FBR Password Change Policy – What You Need to Do?
The Federal Board of Revenue (FBR) has implemented a 60-day password expiry policy for its IRIS online portal to enhance the security of taxpayers’ accounts. While this policy may appear […]
Your Complete Guide to FBR’s Audit Notice u/s 177
A notice under Section 177 of the Income Tax Ordinance, 2001, is issued by the FBR (Federal Board of Revenue) in Pakistan for conducting an audit of your income tax […]
The Role of Circulars in Tax Law Interpretation
In essence, an FBR circular is an official document issued by the Federal Board of Revenue (FBR) in Pakistan that provides guidance on the interpretation and application of tax laws. […]
Tax Returns to Declare Family Members and Source of Funds Information
In a significant shift in taxation policies, a new law imposes stricter conditions on non-filers and filers alike. Under this law, non-filers will no longer be able to sell or […]
How to Verify If the Notice or Order is Sent by FBR or Not?
In today’s digital age, it’s crucial to be vigilant against potential scams. This includes being cautious of fake FBR notices or orders demanding payments or threatening legal action. Here are […]
Understanding the Concept of Associates for Tax Purpose
The Income Tax Ordinance provides a detailed framework for identifying and classifying “associates,” a term critical for ensuring transparency and accuracy in financial and tax reporting. General Definition of Associates […]
What is Sufficient Source of Income?
The recently proposed law under discussion introduces significant restrictions and requirements for purchasing assets, aiming to increase accountability and compliance with tax regulations. This law stipulates that an individual or […]
Rental Income and Capital Gains form UK UAE Exempt from Pakistani Tax
The Appellate Tribunal Inland Revenue (ATIR), Islamabad, has ruled that under Pakistan’s tax treaties with the United Arab Emirates (UAE) and the United Kingdom (UK), rental income and capital gains […]
Get Ready for Mandatory Sales Tax Registration
The FBR aims to enhance tax collection and curb tax evasion through these changes. By bringing more businesses into the formal tax system, the government aims to increase tax revenue […]
Division of Expenditures & Deductions for Multiple Sources of Income
Apportioning expenditures, deductions, and allowances under Rule 13 of the Income Tax Rules is a systematic process that ensures fair distribution of costs across various income classes. This guide elaborates […]