Fbr tax return last date 2018

Breaking News. 5 million income tax returns, sources said. According to an amendment made in the Protection of Economic Reforms Act 1992, a person, who is a non-filer of tax return, is prohibited from depositing any cash in any foreign currency account. and email address. On the return form, the taxpayer declares for a particular tax period and respective input tax and output tax, at prescribed rate of Sale Tax. The Fund seeks capital appreciation. When any person gets the FBR NTN, he/she become the assesses and have to file the annual Income Tax Return before the last date prescribed by FBR. ppt / . July 31 is the last date to file income tax return If your income exceeds the taxable limit, you are required to file ITR Quoting of Aadhaar has been made mandatory for filing of ITR Last date for filing of Income Tax return (electronically/manually) for Tax Year 2014 is 21-11-2014 November 20, 2014 Filing of Income Tax Return date further extended to 21st November, 2014 November 12, 2014 KARACHI: Pakistan Tax Bar Association (PTBA) has insisted the Federal Board of Revenue (FBR) to extend the date for filing income tax returns and wealth statements for tax year 2018. page tax return for the FBR jobs 2018 NTS test application form candidates list & interview date online can be found over this page. 02. FBR allows 15-day extension in tax return filing on commissioner’s approval Reported by: `Customs Today Report November 18, 2014 After due date non filers will be issued notices for levy of penalty. You must lodge a tax return before the tax deadline if you earned ANY income during the last financial year (between 1 July 2016 – 30 June 2017). He further added that template / draft for filing tax returns for the year 2017-2018 might be different from the previous years, so there is no use in saving the current draft and it may be discarded. The due date, which was today, has been extended in wake of "unprecedented surge" in number of I-T returns being filed electronically. The I-T department has said there would not be any extension as to the last date for filing the income tax return. 6 million income tax returns. 15 percent from 2006 until 2018, reaching an all time high of 17 percent in 2014 and a record low of 15 percent in 2007. Expanded reconciliation: IRS expects new form to be used for 2004 He was indicted in August 2000 by a grand jury that charged him with 14 counts of preparing false income tax returns for the tax years 1994 through 1997. New Delhi, Dated the 17 th of August, 2018 Order under section 119 of the Income-tax Act, 1961 was amended vide notification no. for persons with income above Rs. Focusing on standard rules and procedure while preparing the product, simply, efforts has done to ensure quality. Furthermore, the PTBA drew FBR’s attention to the matter of corporate tax returns for the tax year 2018 as well. Income tax return forms for most categories of tax return filers have changed - some more some less. Also Read: FBR to Collect Withholding Taxes from Mobile Phone Operators on Real-time Basis Share It is because this income would fall in the tax year 2018 and Income tax return for the tax year 2018 is not due by the commencement date of the Act or the last date of applicability of the scheme. Oct - 24 2017 In a circular issued on Sunday, the FBR announced that the date for filing of return of total income/statement of final taxation which were due on August 31 and extended up to September 30, 2018 is hereby further extended to November 30, 2018. To a question, the spokesman said last date of the scheme was June 30 and he did not have any authority to extend last date of the scheme. Considering the issues facing tax defaulters, the FBR decided to extended date by 30 days for filing of tax returns. 03/2018 Dated: 20-8-2018 Subject : Conduct of assessment proceedings through ‘E-Proceeding’ facility during 2018-19-regd. Facebook suspends multiple accounts for ‘coordinated’ suspicious activity on eve of election; Easing tensions, US, China The guy said that FBR has not started tax returns filing for the year 2017-2018. Mohammad Iqbal member FATE and Spokesman of FBR told APP here today. The new deadline applies on final tax regime, business individuals, association of persons, salaried The last date of income tax filing is extended to Sept 30, 2018. A. FBR asked to extend tax return filing date - Newspaper Dawn. A simple, equally-weighted average return of all Zacks Rank stocks is calculated to determine the monthly return. 6 years and resulted in a 40% roll-up in rent and a leasing capital commitment of only $0. The date of filing of returns of total income /statement of final taxation of companies whose returns were due on 30th September, 2016 (already extended up to November 30, 2016) is hereby further extended till December 15, 2016, FBR added. (Last Updated On: 18/04/2017) e-Filing 0r e-Enrollment is a facility provided to the taxpayers by the Federal Board of Revenue (FBR) to file income tax returns/statements through the internet. The last date of filing tax is fast approaching by this week’s end. Instruction No. Tax experts said the FBR needs to extend the last date as finalisation of wealth statement form would leave not much time for the taxpayers to file their returns within the present due date. Shareholders of Master Limited Partnerships may be treated as partners for tax purposes. O1360(I)/2018 - Insertion of Chapter XIV-AA in the Sales Tax Rules, 2006 Taxpayers offered easy ways to close audit proceedings for late filing The 2018 eFiling Tax Season for 2017 Income Tax Returns has ended as of October 15, 2018. EN. Previous net debt in U. Last Date for Filing Income Tax Return FY 2017-18 is extended up-till 30th November 2018. in 2010 only 1. The government’s tax revenues and the number of income tax return filers have plunged in first quarter of the current fiscal year amid a delay in enforcement of new tax measures and finalisation of a fresh action plan to deal with tax evaders and plug loopholes. The association has prominent Advocates, Chartered Accountants and Income Tax Practitioners as its members. Income Tax Return for an S Corporation) may incorporate Schedule M-3 in the future. However, his wife had not yet filed the income tax return forcing the FBR to issue a notice to her. The recommended tool for Estate agencies, Property Dealers, Brokers, Investors, Income tax fillers, Builders, Stamp Vendors, Wasiqa Nawees and Local Commissioners. At the end it is beneficial bcz in coming years FBR onna tight the rules more and more. Even if you didn’t work during this period, you still need to tell the ATO. The Act also mandates a maximum six-month extension of the filing deadline. Honored to be back again on the platform, after doing the record-breaking inaugural program on #CPEC with #ACCA, the largest global accountancy body. “The government will not further extend the last date of filing the return which has been fixed March 15 and after the expiry of the date the FBR will start charging 0. According to the new rule, the CbC report for tax year 2017 must be submitted not later than 15 months after the last day of the reporting fiscal year. Under the Budget 2018-19, FBR rates were to be abolished, sellers would no longer have to pay Advance Tax and rates would change for buyers as well. Education. and Password which has been sent on your Cell No. Income Tax Return e-filer Pakistan, Karachi, Pakistan. The last date for filing the returns for 2016-17 was earlier announced to be September 30, 2018, as the Pakistan Tax Bar Association (PTBA), in a letter to the FBR chairperson, had sought an extension in the deadline to file returns for 2018. 6 percent withholding tax from non-filers besides sending them notices,” Dr. txt) or view presentation slides online. fbr. The Federal Board of Revenue (FBR) has announced extension in deadline for filing income tax returns till November 30, 2018. klapakistan. e. Federal Board of Revenue has extended the date of filing of Income Tax Returns/ Statements for the Tax Year 2018 upto 30th November, 2018 for Companies, Individuals and Associations of Persons. Last date of filing of Withholding Tax Statement has been extended upto 15 September 2015. The FBR has extended the filing of income tax return to October 31 for individuals and salaried persons. a registered tax agent lodges your return electronically and meets our lodgment on-time requirements. It is because this income would fall in tax year 2018 and Income tax return for the tax year 2018 is not due by the commencement date of the Act or the last date of applicability of the scheme. Although the last date to file for individuals is In the fiscal year 2017, the FBR had collected 1. COPYRIGHT 2018 Asianet-Pakistan No portion of this article can be reproduced without the express written permission from the copyright holder. Income tax return forms can be obtained from official website of FBR Pakistan www. KARACHI: Tax practitioners on Wednesday urged the Federal Board of Revenue (FBR) to extend the last date for return filing as income tax returns form is yet to be finalised. accountant-1238598_1280. Federal Board of Revenue extends date of filing of Returns and Statements, due on 31st Aug, 2017, to 30th Sep, 2017 Date of filing of Income Tax Return for Electronic Filing of Income Tax and Sales Returns, Online Electronic Filing of Income Tax , Sales Tax Returns and Statements Put Search Criteria Minimum 5 Characters are required for search Pakistan Tax Bar Association (PTBA) had already urged the FBR to extend the date for filing income tax returns and wealth statements for tax year 2018. (FBR) engages in the production, sale, and export of short fiber pulp. The The FBR received around 46% of returns for tax year 2017 after due date, but they are part of ATL. However, due to its inefficiency, the FBR extends the last date till the time the total number of return filers comes close to the last year's level. Registration. In any other case, on or before the thirtieth day of September next following the end of the tax year to which the return relates. Partnerships issue a Schedule K-1 (Form 1065) rather than a Form 1099 form for tax purposes. Amnesty beneficiaries to file returns for declared assets for tax year 2018 in TY18 and Income tax return for TY18 is not due the last date of FBR has brought The government has already extended the last date for filing of tax returns for salaried and non-salaried individuals and association of persons until January 31, 2016. Last Date to file Income Tax Return for FY 2013-14 is 31st March 2016. tv ISLAMABAD (Dunya News) - The Federal Board of Revenue (FBR) has extended the deadline for filing income tax returns till November 30, 2018, Dunya News reported. It has more than 4,000 members. The PTBA said that reasonable time was not granted as provided under the law i. FBR’s Income Tax Slabs for Tax Year 2017-2018. In a letter addressed to chairman FBR Dr Muhammad Jahanzeb Khan, the PTBA President Abdul Qadir Memon argued that multiple amendments have been made to the income tax return and wealth statement If you want to know what income tax slab applies to you, please see the below table for the FBR’s income tax slabs for the tax year 2017-2018 Income Tax Slabs In the light of the Income Tax Ordinance 2001 and Income Tax Rules, the following table represents the income tax slabs and their respective income tax rate. LAHORE: The Lahore Tax Bar Association has urged Chairman Federal Board of Revenue (FBR) Tariq Mahmood Pasha for extension in last date of filing of income tax returns up to 31st December, 2017 in order to facilitate the genuine taxpayer of the country, who are regularly contributing in the national Global tax laws were being changed and soon it would become difficult for Pakistanis to hide their assets overseas: FBR Chairman. R. Last date for filing of Income Tax return (electronically/manually) for Tax Year 2014 is 21-11-2014 November 20, 2014 Filing of Income Tax Return date further extended to 21st November, 2014 November 12, 2014 Extension of date of filing Income Tax Return in case of assessees in Kerala State No. . Wealth Statement (Video Help) Income Tax Return. FBR TAX Return preparer. As per FBR's notification last date for of returns for July-2011 and August-2011 has been extended up to 26th September 2011. In case input tax exceeds output tax, the amount of refund claimed or excess input tax is also declared in the return. The Income Tax Department appeals to taxpayers NOT to respond to such e-mails and NOT to share information relating to their credit card, bank and other financial accounts. Mostly foreign companies and subsidiaries of foreign companies follow different accounting period for the company whose accounting year ends between July and December , last date of filing of company tax return will be 30th day of on next year. Income tax return filing for tax year just ended i. The Income Tax Department NEVER asks for your PIN numbers, passwords or similar access information for credit cards, banks or other financial accounts through e-mail. NEW DELHI: The last date for filing income-tax returns has been extended to August 5. Lahore Tax Bar Association is the largest tax bar Association of Asia. 2018, return / statement for Tax Year 2016 and from 01. He said the FBR was also taking special measures to simplify the taxation system to facilitate the taxpayers. The last date for filing of returns by individuals is July 31. g. Representative (as defined in section 172 of the Income Tax Ordinance, 2001) of the Taxpayer named above, do solemnly declare that to the best of my knowledge & belief the information given in this Return / Statement u/s 115(4) is correct & complete in accordance with the provisions of the Income Tax Ordinance, 2001 & Income Tax Rules, 2002. News FBR extends date for filing tax returns. The Federal Board Of Revenue is the responsible for auditing, enforcing and collecting revenues for the government of Pakistan. FBR extends last date for filing income tax returns, wealth statement up to November 30 Discussion in ' Pakistan Economy ' started by frost7 , Sep 30, 2018 . The last date for filing tax returns is now fixed at October 31. It also provided information about all electronic system of FBR, for example e-filing, Taxpayer Registration, NTN Sales Tax Verification Last Updated with S. KARACHI: The Federal Board of Revenue (FBR) has taken an unprecedented facilitation step for taxpayers who filed their returns of income for Tax Years 2015, 2016 and 2017 after closing dates, Member FBR Taxpayers’ Audit, Nausheen Javaid Amjad said addressing a seminar on the scope of Section 214E of Income Tax Ordinance, 2001. Last date for filing of income tax return for the Tax Year 2017 is 30th September, 2017. Last and most important of all, income tax has the major role to be played in the social development of the nation too. On 9 February 2018, the Federal Board of Revenue issued SRO 144(I)/2018 to amend Chapter VIA of the Income Tax Rules 2002 governing the CbC reporting. The last date for filing the returns for 2016-17 was earlier announced to be September 30, 2018 as The Pakistan Tax Bar Association (PTBA), in a letter to the FBR chairperson, had sought an extension in the deadline to file returns for 2018. to file income tax return for tax year 2018 by due date, he will not be included in the ATL, which will be issued on 1st Mar’19. Speak with your tax advisor to determine how this may affect you. Mr Anthony Cyril Williams (CEO) is a Tax Consultant based in Lahore, Pakistan. The FBR issues new ATL every year on March 01, however the ATL for tax year 2018, scheduled to be issued on March 01, 2018, will be the final list for the year as law prohibits further inclusion of return filers for the year. If you are paying taxes to FBR in Pakistan than submit your tax returns of current year and several earlier years, but make sure the income you mention in your forms should match the income you have shown in your tax returns. Stay up to date with lastest Earnings Announcements for Fibria Celulose S. Last Updated On 01 October,2018 08:13 am Only 0. If no black money is involved in your income then there is no reason to not file tax return. 09/09/2017 . GSR July, 2018 with effect from 20 Circular No. 2 times. It is because this income would fall in the tax year 2018 and Income tax return for the tax year 2018 is not due by the commencement date of the Act or the last date of applicability of the scheme'. pptx), PDF File (. Taxation e-filing of IT returns KTBA asks FBR to extend last date till October 31. Below is another session on “Taxation” with “Think Ahead with ACCA”. 741 b Sales Tax refunds to export-oriented sectors S. O 17(1)/2018 dated 10th January 2018 circulated by Govt. Posted on 27th September 2018 by Research No extension in date for filing tax returns ISLAMABAD : No decision has been taken so far to extend the date for filing income tax returns therefore taxpayers must not delay filing their income tax returns, an FBR official said Wednesday. JUN 23, 2018 (BE2C2 Report): Tax Amnesty Scheme was receiving encouraging results and its success would help resolving the current account deficit and balance of payment issues. The last date for filing the returns for 2016-17 was earlier announced to be September 30, 2018 as The Pakistan Tax Bar Association (PTBA), in a letter to the FBR chairperson, had sought an KARACHI: Pakistan Tax Bar Association (PTBA) has urged the Federal Board of Revenue (FBR) to extend the date for filing of tax returns up to Nov 30. Citizens are given relaxation as the last date to file a tax return and assets statements is extended till September 30th. The data of tax return filers presented by the Federal Bureau of Revenue (FBR) to Senate Standing Committee on Finance reveals that the number of tax return filers has dropped significantly over the past five years. https://www. - 1) The date of filing of Income Tax returns required to be filed through e-portal in last date of income tax return 2018 pakistan fbr tax return last date 2018 how to earn money on whatsapp in pakistan whatsapp earning in pakistan ISLAMABAD: Finance Minister Ishaq Dar has announced to extend the last date for filing annual income tax returns by one month after the Federal Board of Revenue (FBR) received a little over just It is duty of FBR to bring online the Income tax Return, on 1st JUly 2018. According to the tax official, the last date is expected to be extended further to Feb 29, 2016. He said this was the last chance for people to take benefit from the scheme as last date of the scheme was June 30 and no extension in the scheme would be made. English. dollars fell to the end last date of e-filing of income tax returns. But in view of the day-long strike at public sector banks, the deadline has been extended to August 5. It will start somewhere in the month of August, 2018. Last 5 Yrs Annualized Growth Last 3 Yrs Annual Declared Date Ex-Dividend Date but the return potential of common stocks? If so, preferred stocks are was introduced whereby a person filing tax return for tax year 2018 and onwards shall not be considered as ‘active taxpayer’ if that person files the return after the due date for filing tax return. Get up last date for efiling is 30 September!! To be included in ATL and be a filer, a person has to file return u/s 114 or statement u/s 115 (e. 00 for each copy provided. Tax returns for 2015-16 (assessment year 2016-17) were originally to be filed by July 31. favadkhan (favadkhan) 2018-05-24 14:29:35 +0500 #16 “The date of filing of Income Tax returns required to be filed through e-portal in cases of salaried individuals which were due on 30th September is hereby extended up to November 30, 2018,” said an FBR notification issued here. - Earnings Announcements. In addition to penalties imposed by FBR for late filing of return, a person filing his /her return for tax year 2018 would not be included in ACTIVE FILERS’ list as published by FBR. Income Tax Return (Video Help) Withholding Tax Statement Template “November 30, 2018 is the last date for filing returns and those who missed the opportunity would remain non-filers until next year”. Also as per new budget(for FY 2016-17), they are planning to reduce timeline to file the return, so For FY 2016-17, Last date to File Income Tax Return will be 31st March 2018. Withholding Tax. New Income Tax Slab Rates for FY 2017-18 (AY 2018-19) - Budget 2017 In what could be the best possible news of the year for taxpayers, as per the Budget for the fiscal year 2017-18 announced by Finance Minister Arun Jaitley new income tax slabs have been announced. The last date to file tax returns will be extended in different phases. Since the first active taxpayers list is to be issued on 1 st March 2019 and the list is issued weekly on each Monday so that makes 23 rd June 2018 the last Monday falling in Tax year 2018 for tax return filing on tax year 2017. The Income tax department has already notified the income tax return forms to be used for filing returns for FY 2016-17 or assessment year 2017-18. FBR: Fibria Celulose S. • W-2 forms or Self-Employment tax return for last year Earliest possible payment date is the first of the (combined FBR and SSP) in SSI benefits in 2018 To a question, the spokesman said last date of the scheme was June 30 and he did not have any authority to extend last date of the scheme. For tax year 2016, starting from July 2015, Withholding Tax Statement is to be filed on Iris. 30 June 2018 has greater significance as compared to previous years. The last date for filing income-tax returns has been extended to August 5. If the due date falls on a weekend or public holiday, you can lodge and make any associated payment on the next business day. section 118(2) of the Ordinance for filing/e-filing of the tax returns and statement under section 115(4) of the A copy of a tax return: Send completed Form 4506 to the address provided in the form’s instructions to receive copies of your tax returns as originally filed. FBR mades special Income tax return form Form 2018 Last Date. Web Desk On Sep 5, 2018. Fringe Benefits Tax is itself normally tax deductible on an accrued basis, provided there is the necessary connection with the earning of assessable income (thus excluding not-for-profit organisations) (Ruling TR95/24) The govt will extend the last date to file income tax returns, a top government source told ET. FBR has made it mandatory for all salaried employees (government and private) having taxable income to file their income tax returns from Tax year 2015. But on the other hand, the process of these tax filing returns and the procedure of these NTN verification process is started. So before going to the due date for filing of income tax return ,first we describing here who is required to file Income Tax return. FBR has made it mandatory for all salaried employees (government and private) having taxable income to file their income tax returns from the tax year 2015. Karachi -- Karachi Chamber of Commerce and Industry (KCCI) has urged the finance ministry and chairman of Federal Board of Revenue (FBR) to extend the last date for filing income tax returns by one month up to October 31, 2018. Knowledge of tax stamp use in the tobacco industry and its tax matters Eligible Age: The applicants applying for FBR Jobs 2018 must not be less than 20 years of age and not more than 28 years of age. ITRP is an independent Group of Tax Associates, with experience of serving private It is because this income would fall in the tax year 2018 and Income tax return for the tax year 2018 is not due by the commencement date of the Act or the last date of applicability of the scheme”. Our 2018 year-to-date results were also positively impacted by the lower tax rate resulting from the 2017 Tax Cuts and Jobs Act. FBR extends date for filing tax returns till November 30 Dunyanews. so have the Income Tax Return Salaried Person Pakistan Form Download All salaried persons have to complete this e-registration process which is available at the site of FBR. gov. Login to 'Iris' by entering your Registration No. The FBR has envisaged a target to increase the number of return filers by 20 percent during the current fiscal year. 5 lac, it is mandatory to submit tax return online at www. Thus, the last date to submit all income tax returns is now 30th November 2016. Karachi Tax Bar Association (KTBA) has requested the Federal Board of Revenue (FBR) to extend the date of e-filing of income tax returns and statement of final taxation till October 31, 2018. Sep 30, 2018 #1 Effects of Tax Amnesty Package 2018 Real Estate Pakistan. ISLAMABAD (Dunya News) - The Federal Board of Revenue (FBR) has extended the deadline for filing income tax returns till November 30, 2018, Dunya News reported. For 2018 tax return filing, the partnership return due date is March 15, 2019. March 15 is also the due date for Individual partners to receive Schedule K-1 showing their individual share of the partnership income or loss, to be filed in April on their personal tax returns . It is to inform that Tax Return Date Pakistan 2017 has not announced yet. OK You are not a registered taxpayer. com Recipient Email * 1 KARACHI: Pakistan Tax Bar Association (PTBA) has urged the Federal Board of Revenue (FBR) to extend the date for filing income tax returns and wealth statements for tax year 2018. FBR Income Tax Deposit Last Date 30 September 2012 Tax September 23, 2012 at 4:19 pm 1 comment Federal Board of Revenue announces the last date of deposit the income tax challans before 30-September-2012. pk. The Fund invests primarily in securities of companies traded in domestic markets. President RITBA Syed Tauqeer Bukhari said that more countries were introducing voluntary disclosure programmes, which are going down well as hiding money is getting riskier. Website Description: Information about Income Tax, Sales Tax, Federal Excise and Customs. Through the money collected by income tax, it would be used on larger volume for developmental projects and construction of new hospitals. The FBR in this regard has also written a letter to the State Bank of Pakistan requesting to make special arrangements by extending the bank hours of SBP and National Bank of Pakistan for collection of duties and taxes during last two or three days of the month of June due to heavy load of tax payments. be available when submitting the income tax return, and the Master file and Local file should be available to the FBR within 30 days from the date of the request, provided that 45-day extension may generally be obtained from the FBR. It primarily provides bleached eucalyptus kraft pulp for use in manufacturing toilet paper, uncoated, and coated paper. In this regard, he said the FBR would also introduce single page tax return for the To a question, the spokesman said last date of the scheme was June 30 and he did not have any authority to extend last date of the scheme. Today, we reported net sales of $107 million for the third quarter of Fiscal 2018 compared to $98. Individual Income Tax Return, within three years from the date you filed your original return or within two years from the date you paid the tax, whichever At the last click on the “process and submit “button then the return will be submitted. Section 139 also provide that ,who is required to file Income tax return and under which conditions. A senior FBR official also said that if an individual fails to give income tax for the tax year 2018 by due deadline, he/she will not be added to the ATL, issued on March 1, 2019. The monthly returns are then compounded to arrive at the annual return. last day of March after the calendar year to which the information return applies , or no later than 90 days after the end of the estate’s or trust’s tax year. before 31 st ISLAMABAD: In a move to determine non-filers’ investments in the real estate, the Federal Board of Revenue (FBR) has identified more than 16,000 tax evaders who paid zero taxes despite investing billions in the sector during last two years. The letter highlighted that the last date for filing corporate tax returns has been set in September 2018 but the revenue body has still not provided any details to filers. png 430 1077 KLAPakistan https://www. New Delhi: The government on Wednesday extended the last date for filing of income tax returns by five days to August 5. Iqbal said keeping in view the benefits of tax amnesty scheme, the caretaker set up was also fully committed to ensure success of the scheme. is the FBR issue rates for 2018 -19 after enhancement of The Tax Amnesty Scheme 2018 was announced by the former Prime Minister Shahid Khaqan Abbasi on 5 th April 2018. Minister for Federal Education and Professional Training Baligh Ur Rehman Wednesday apprised the Senate that Federal Board of Revenue (FBR) collected Rs 3,362 billion tax during last fiscal year 2016-17 while a target of Rs 4,013 billion had been fixed for the current financial year 2017-18. 2 Months Extension Given to All Pakistani Tax Payers for Filing Their Annual Income Tax Return from September 30th, 2018 to November 30th, 2018. pk Date of last background check: (FBR’s CACFP Program Dates for 2018-2019 are Sept 4th, 2018 to May 24th, 2019) federal tax exempt status and provide a copy You must file a Form 1040X, Amended U. The board is anticipating to increase this figure to 2 million this year. E-Service is simply a way to serve your documents using internet and taxes online system. if look at the stats it can be easily seen that number on return filer is shrinking every year gradually. See more of E Filing Of FBR Income Tax Returns on Facebook. Hamid Atiq Sarwar said that the last date for filing returns is September 30 and those who need more time to file returns should pay some tax to get an extension. before 28. IRS charges a fee of $50. ISLAMABAD: The Federal Board of Revenue (FBR) has extended the last date for filing of income tax returns till October 31 to facilitate the taxpayers. The Federal Board of Revenue has responsibility for formulation and administration of fiscal policies. “After the cut of date, the FBR will issue notices to non-filer with minimum penalty of Rs50,000,” he said and added that on further noncompliance the penalty amount would increase. Federal Tax Deposit Coupons (Electronic Federal Tax Payment System) Beginning January 1, 2011 the IRS stopped accepting hard copy tax deposit coupons and instituted the Electronic Federal Tax Payment System (EFTPS). The Federal Board of Revenue (FBR) has extended the deadline to file annual income tax returns and wealth statements till November 30, 2018. According to senior officers, over 2 crore returns have been filed electronically. The amnesty scheme and the following budget are comprehensive efforts by the state and former government to formalise the economy and, more urgently, shore up Pakistan’s foreign currency reserves. Arif Habib Limited (AHL) uses three rating categories, depending upon return form current market price, with Target period as December 2018 for Target Price. Fibria Celulose S. The statutory due date for lodgment and payment is 21 May. 2 million in the third period last year. The Commissioner having jurisdiction over a case, where necessitated by the facts of the case, may also register a taxpayer in the prescribed manner. The last date for filing of tax return and statement has been extended till Sept 30. I have a lot of clients who, when asked, to complete their filing of income tax return, tell me that they have completed all their timely advance tax payments for the previous year in March. 2018 SITE APPLICATION The due date for return of this federal tax exempt status and provide a copy of the IRS tax-exempt letter to FBR and notify FBR of any FBR Focus Fund is an open-end fund incorporated in the USA. com will select the legally correct and Least Expensive Tax Return Form for You. Efiling a 2018 Income Tax Return starting in January 2019 will be a new experience as a result of last year's Federal Government Tax Reform. FBR Final. . The last date for filing the returns for 2016-17 was earlier announced to be November 30. com. Tax Filing Deadlines Calendar – February 2017 Notice: If the due date shown falls on a weekend, federal or state holiday, the payment is due the next business day. This year, the FBR is expecting over 1. This is due to the defects in newly launched return which is to be e-filed by all registered persons. Wealth Statement. People who have so far declared their domestic assets numbered 59,000 while 6,000 people have declared KARACHI: The Federal Board of Revenue (FBR) has taken an unprecedented facilitation step for taxpayers who filed their returns of income for Tax Years 2015, 2016 and 2017 after closing dates, Member FBR Taxpayers’ Audit, Nausheen Javaid Amjad said addressing a seminar on the scope of Section 214E of Income Tax Ordinance, 2001. If due to any reason, the taxpayer is not able to file his income tax return, he can still submit a belated return before the end of the assessment year i. The Federal Board of Revenue (FBR) has received 482,275 income tax returns till October 10 for the tax year 2018, which are 170,208 more than 312,067 income tax returns received for tax year 2017 by the same date, registering an impressive increase of 55%. However, to ensure that the declared values of properties are fair, the government has to form the Directorate of Immovable Property. FBR has until October 10, 2018 received 482,275 Income Tax returns for the Tax Year 2018, which are 170,208 more than the 312,067 Income Tax returns received for Tax Year 2017 by the same date, registering an impressive increase of 55 percent. Taxpayer's Registration Every taxpayer shall apply in the prescribed form and in the prescribed manner for registration which is described below. The interest coverage ratio measured by the EBITDA in the last 12 months over the net interest expenses in the last 12 months reached 11. Scribd is the world's largest social reading and publishing site. However, everybody is not as comfortable filing IT return online all by themselves Calculate your annual tax deduction ay 2018-19 for tax planning and investment for LIC, Public Provident Fund, Mediclaim, Insurance, Mutual Funds & More on Moneycontrol. FBR issues Rs 8. has been prepared by the Information Technology Wing of the FBR. A senior FBR official said if an individual fails to file income tax return for tax year 2018 by the due date, he/she will not be included in the ATL, which will be issued on March 1. In Pakistan, the sales tax rate is a tax charged to consumers based on the purchase price of certain goods and services. You may still prepare a 2013 tax return online to file by mail. Important periods of sales Tax Submission Remember that Annexure – C is submitted first and the last date of submission of Annexure- C is 10 th of every month. “The FBR is pleased to extend the date of filing income tax returns/statements for the tax year 2018 as the date of filing income tax returns required to be filed through e-portal in cases of salaries individuals, which were due on August 31 is hereby extended up to 30 September,” according to a notification issued by the FBR. Talking to a delegation of Rawalpindi Islamabad Tax Bar Association (RITBA) led by its president Syed Tauqeer Bukhari which called on him here on Thursday, Dr. Federal Govt of Pakistan recently announced a tax reform package and amnesty which is expected to overhaul and change the entire taxation system in Pakistan. Online Return Filing which is now mandatory is a steps toward good working of fbr. September 30 was the last date for filing the returns Specifically, section 2006(b)(11) of the Act changes the FBAR due date to April 15 to coincide with the federal income tax filing season. which is your CNIC No. Text received from FBR regarding Filling Awareness regarding E-filing of Returns Dear Taxpayer, Last date for filing of income tax return for the Tax Year 2017 is 30th September, 2017. Kindly ensure that you file your return as early as possible to avoid facing any difficulty due to excessive burden on system during the last days of September. This move has been taken in order to The Income Tax department has notified July 31 as the last date to file Income Tax Return (ITR) for individuals. In order to become a tax filer in Pakistan, a person need to register with Federal Board of Revenue (FBR) in his/her/their city/area. According to a new notification by FBR, the deadline for Income Tax Returns has been extended by a span of 15 days. September 28, 2018 - Taxation. 03. com/wp-content/uploads/2016/09/5. Softax provides real time updated knowledge bank on Income Tax, Sales Tax, Federal Excise and Corporate Laws to accountants, tax executives, senior management, consultants and other users to handle tax and corporate affairs in the light of latest regulatory requirements. KARACHI: Pakistan Tax Bar Association (PTBA) has urged the Federal Board of Revenue (FBR) to extend the date for filing income tax returns and wealth statements for tax year 2018. FBR likely to miss three-month target by PKR 30bn. 2018 and future fringe benefits tax (FBT) returns can only be lodged through the practitioner lodgment service (PLS). FAQs. Salary Tax Calculator on Hamariweb tells annual income and total payable tax amount on your salary. 864 likes. Providing professional consultancy services, with extensive work experience related Financial matters,Tax related planning, polices, litigation, Filing returns etc. 2013 tax returns cannot currently be E-Filed. 1,594 likes · 51 talking about this. Therefore there is no question of this income being undeclared or undisclosed. In addition, return excludes all type of taxes. KARACHI (Dunya News) – Karachi Chamber of Commerce & Industry (KCCI) President Muffasar Atta Malik has requested Federal Minister for Finance, Economic Affairs & Revenue Asad Umer and Chairman Federal Board of Revenue (FBR) Muhammad Jahanzeb Khan to extend the last date for filing IT returns by one month up to October 31, 2018. year 2018, which are 170,208 more than 312,067 income tax returns received for tax year 2017 by the same date, registering an impressive increase of 55%. 35 million people have filed income tax returns till September 30. We are also assuming a 21% tax rate for 2018, which includes Now, the date and time of filing income tax is coming. Tuesday, November 6 2018. Tax Preparation Service The FBR’s senior member emphasised that ambiguities had been removed from tax laws pertaining to foreign assets under the Finance Act 2018. S. The income tax return due date for the financial year 2017-18 is 31 st July 2018/ 30 th September 2018 (for the Financial year 2017-18, the Assessment year would be 2018-19). If he NTN holder is businessman, his business become more favorable and he/she can get many business benefits and fbr NTN give strength to the business. However, official sources in the FBR said that the tax machinery has received over 711,000 returns in the last financial year. from Zacks Investment Research a recap of their last earnings Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. 35 per square foot per lease year. Earlier, the last date was September 30. It includes both Lahore DC rate 2017 issued by District Collector, Lahore and FBR rate 2016 issued by the Federal Board of Revenue, Pakistan. Need to catch up on last year's taxes? File your 2013 Taxes Now! Start Your 2013 Tax Return. (Last Updated On: 02/05/2018) The Federal Government employees along with Defense Employees in the recent Budget 2018-19 have got a lot of benefits in which one of the most prominent was relief in tax on salary. FBR deduct s Rs66m tax from LDA bank account Income Tax Updates - Notifications Electronic Return for Companies for Tax Year 2018: Download. If the tax year ends between 1 st January and 30 June then the last date of Income Tax Return filing, in case of a company, will be on or before of 31 st December. Sales Tax Rate in Pakistan averaged 16. Federal Board of Revenue (FBR) has launched an offline application enabling taxpayers to prepare their Income Tax Return and Wealth Statement, without using the Internet, to resolve connectivity issues often faced by the taxpayers. of Pakistan, Revenue Division, Federal Board of Revenue. Pay your Federal Tax Deposit Coupons (EFTPS) through Aatrix eFiling. 2018 onward, return / statement for Tax Year 2017 needs to be filed). Tax experts said that the FBR should be very careful in extending the last date for filing income tax returns for tax year 2018, as it was due on September 30 for salaried class, which was already extended from August 31. It lists the partner's share of income, deductions, credits, etc. 7 million people file the tax. This move has been taken in order to FBR has made it mandatory for all salaried employees (government and private) having taxable income to file their income tax returns from the tax year 2015. Sources further told that about 10 percent of the registered tax payers have filed their income tax returns. The FBR had issued a list of all parliamentarians, which are included into tax net on April 10, that displayed that Imran Khan paid Rs218,237 income tax during previous year 2014. FBT return. 5/2018 : Clarification on the immunity provided u/s 270AA of the Income-tax Act, 1961 16 August 2018 The FBR in this regard has also written a letter to the State Bank of Pakistan requesting to make special arrangements by extending the bank hours of SBP and National Bank of Pakistan for collection of duties and taxes during last two or three days of the month of June due to heavy load of tax payments. Tax Year 2017 Tax Year 2018 27B to be filed on or before due date of filing of return) During orientation session arranged by FBR on February 8, 2018 for the Every Person is required to file income tax return within due date as prescribed under section 139 of the Income Tax act. it is strange that irrespect of the fact that the authorities have full one year to prepare the return. By Commerce Reporter KARACHI: The Federal Board of Revenue (FBR) has extended the deadline to file annual income tax returns and wealth statements to December 15. pptx - Free download as Powerpoint Presentation (. Alam Law Associates. Tax Ordinance, 2001, the Federal Board of Revenue is pleased to extend the date of filing of Income Tax Returns/Statements for the Tax Year 2018 as under. Thereafter we will discuss due dates for If the 1040-EZ Form is right for You, then your Federal Tax Return and Any Number of State Tax Returns Are Free! Start Your Free Return Now If you have a More Complicated return and require Form 1040-A or 1040, efile. This reflects an increase of 9% year over year. The lease renewal extended the lease expiration date to 7. Income tax return for tax year 2018; late filers would be treated as non-filers for the whole year Is it real that 23rd June 2018 last date to become Income Tax filer? That’s Incorrect Read ME In order to become a tax filer in Pakistan, a person need to register with Federal Board of Revenue (FBR) in his/her/their city/area. This move has been taken in order to KARACHI: Pakistan Tax Bar Association (PTBA) has insisted the Federal Board of Revenue (FBR) to extend the date for filing income tax returns and wealth statements for tax year 2018. pdf), Text File (. The relevant module has been launched. com/wp-content/uploads/2018/04/Logo-of-Tax-Consultants-in The last date for filing the returns for 2016-17 was earlier announced to be September 30, 2018 as The Pakistan Tax Bar Association (PTBA), in a letter to the FBR chairperson, had sought an The last date for declaring hidden assets under the tax amnesty scheme is July 31 (today)

RSS feed