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Tag Archives: wealth statement

PTBA asks FBR to extend tax filing date

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KARACHI: The Pakistan Tax Bar Association (PTBA) has urged the Federal Board of Revenue (FBR) to extend the date of filing income tax returns by two months beyond the end date September 30. The PTBA, in a letter to FBR Chairman Tariq Bajwa, said that only 14 days time was given to file the tax return and wealth statement, which ... Read More »

FBR sets up 200 centres to facilitate taxpayers

FBR

ISLAMABAD: The Federal Board of Revenue has established 200 tax facilitation kiosks to facilitate the business community in filing of income tax returns. The centres have been established at important business centres, shopping malls, offices of traders’ associations and chambers of commerce and industry, national and provincial assemblies buildings, federal secretariat, civil secretariats in all the provincial capitals, press clubs ... Read More »

Karachi Tax Bar seeks removal of flaws in IT return form

KTBA

KARACHI: The Karachi Tax Bar Association (KTBA) has written to the Federal Board of Revenue (FBR), asking it to remove flaws in new income tax return form for tax year 2014. In its letter, the KTBA pointed out that the board has uploaded the income tax returns along with allied annexure and wealth statement on its web portal without the ... Read More »

Rs770m tax evasion: Qadri’s plea for time extension turned down

Tahirul Qadri

ISLAMABAD: The Federal Board of Revenue (FBR) has rejected Pakistan Awami Tehrik (PAT) Chairman Dr Tahirul Qadri’s request for a one month extension to respond to the board’s notices and submit wealth statements. The FBR has informed Mr Qadri that he must respond within seven days otherwise he would have face penalty proceedings under section 182 of the Income Tax ... Read More »

Returns filing: Wealth statement likely to be mandatory from FY15

wealth statement for web

ISLAMABAD: The Federal Board of Revenue is likely to make mandatory submission of wealth statement for all taxpayers, irrespective of the existing limit of income exceeding Rs1 million, from next budget for 2014-15. According to details, through Finance Act 2013, it was made mandatory for all taxpayers to submit wealth statement irrespective of amount of their income declared in tax ... Read More »