fbr tax return

Tax payer can view the summary of all entered information in income tax return at any time or step during the return filing process. Tap on “Sign in” option from the left panel to navigate to the Sign in screen as shown below: Enter “CNIC/NTN” and “Password” then click on Login button to sign in as shown below: Click Normal or Salaried return icon based on your requirement (i.e. Pakistani mountaineer Ali Sadpara successfully climbs K2 in winter expedition, Speaker Asad Qaiser warns of strict action over 'unpleasant' incident in NA, PayPal to cease domestic financial transactions in India. part 02 how to fill fbr income tax return form 114 and 116. Successful submission of Income Tax Return and Wealth Statement in Iris is confirmed when both the forms have moved from the Draft folder to Completed Task. Sources told The News that the board softened its stance on the imposition of penalty on income tax returns late filers for the tax year 2020-21. Tax payer can add relevant information as applicable under the provided source and click “continue” to move on next step. To view return summary, click on the expand options icon on top left corner of the screen as shown below: In case user is unable to view all menu options in left panel or only “Sign In” option is listed in left panel then there must be some issue with the internet connectivity. For the current fiscal year, the FBR has so far received over 1.7 million returns … “While departing from the previous practices, the FBR aims at designing the return forms in advance so that forms are available to the taxpayers on the very first day of the tax … Application will load reconciliation page as shown below: On successful reconciliation, click on continue button to move to next step for filing return. KARACHI: The Federal Board of Revenue (FBR) has directed action against the corporate taxpayers for imposing penalties over non-filing of returns and recovery of undeclared income for the tax year 2020.The FBR … Starting with the Annual 2020 return, all annual filers must file and pay electronically.If you need help logging into your My DOR account, try our My DOR help. This feature will help taxpayer to proceed step by step utilizing interactive questions for return filing, even familiarizing the taxpayer with the various issues related to tax and giving the best possible experience to file IT Return. Last fiscal year, 2.9 million returns were filed. On selection the Proceed button will get enabled as shown below: Click on “proceed” button, application will redirect user on Income Tax Return year selection page as shown below: Click on the provided Tax year options shown on the screen to file income tax return for the selected tax year. If you are not registered with FBR on Iris then use Iris Web portal for New Registration. Login to 'Iris' by entering your Registration No. Filing of Wealth Statement. You can add data against multiple tax deduction options by repeating the same steps. 3.https://youtu.be/cg-6ApWcXRE how to get NTN no. Once installed, you can find the application icon under your mobile Apps list. Comparison with tax year 2019. File Income Tax Return Home; Income Tax; File Income Tax Return; Income Tax. About 300,000 applications for extension received by FBR for tax year 2020. To resolve this error, check internet connectivity and Close and Re-Run Tax Asaan mobile application. The FBR … The first step of filing your Income Tax Return is to register yourself with Federal Board of Revenue (FBR). Click on desired option to enter tax deductions detail as shown below: Application will redirect user on details page of selected tax deduction option i.e. Similarly, if a person fails to furnish a wealth statement, which is mandatory to file along with the return of income, by the due date then such an individual will pay a penalty of 0.1% of the taxable income per week or Rs100,000 whichever is higher. Enter Amount in provided fields and click “Save and Back” as shown below: Click on “Assets” icon to enter net worth of your Assets for previous and current year, enter amount in provided fields and click “Save and Back” as shown below: Now click on “outflows” icon to enter expense amount in provided fields and click “Save and Back” as shown below: After adding details of Inflows, Assets and Outflows, click on Continue button to reconcile assets. Sources privy to the development quoted him as saying this during a meeting with Karachi Tax Bar Association (KTBA) on income tax returns for the tax year 2020-21. The tax deposited with returns was Rs.48.3 billion compared to only Rs.29.6 billion, showing an increase of 63 percent. Hamid Waleed 17 Jan 2021 LAHORE: The Federal Board of Revenue (FBR) has restored the sanctity of the last date of filing of income tax return after many years and taxpayers have filed … If the taxpayer has some payable tax calculated by the application after reconciliation process then taxpayer will be redirected to the following screen from where the taxpayer has to attach payment receipts: Click on “Attach Payment” link , the application will redirect user on “Attach Payments” screen before submitting the return as shown below: Once the payments receipts are attached or after reconciliation the taxpayer does not have any tax due at his/her return then application will redirect user on declaration screen as shown below: Click on “Submit” button to submit return. “Annual Salary” as shown below: As soon as taxpayer click on any of the provided source of income options, the application will redirect taxpayer on data entry page of selected source as shown below for “Annual Salary”: Enter details in provided fields and click “Save and Back” button, application will save provided data and redirect user back to source of income page. A new simple return form for the tax year 2020 has been introduced. ], [Please note that if application load reconciliation error then click on back button to edit and correct assets record in order to remove error and process again. “Provided that if 75 percent of the income is from salary and the amount of income under salary is less than five million rupees, the minimum amount of penalty shall be Rs5,000,” read the law. User can click on “add another” button to add multiple records. “The FBR has received around 1.5 million tax returns so far,” a top official of the FBR confirmed to The News on Monday. Your email address will not be published. KARACHI: Federal Board of Revenue (FBR) has decided to not impose a penalty on late filers across the board owing to technical and non-technical hurdles in the filing of returns. اُردو Prime Minister's package for construction sector Profile Update u/s 114A of the Income Tax … Application will mark the tax year selection by highlighting the tax year and will redirect user on resident status screen as shown below: Click on “Resident” (or “Non-Resident”) tile to select the desired category, application will load sources of income page as residence status selection as shown below: To enter data under relevant source of income click on desired source tile i.e. ], [Please note that you can go back to previous step i.e. Income Tax Return for Salaried Persons Part II. FBR -Federal Board of Revenue is the Revenue Division of Government of Pakistan tasked with collecting taxes & duties and administrating relevant legislation. Those having obtained a National Tax Number (NTN) or Registration Number but do not have credentials to log into Iris … On successfully submitting return application will redirect user on return summary report with a success message as shown below. This system does not support any reporting capability right now however users can only view information specific to provided NTN/Registration Numbers as per available inquiry features in Tax Asaan mobile application. This feature will help taxpayer to proceed step by step utilizing interactive questions for return filing, even familiarizing the taxpayer with the various issues related to tax and giving the best possible experience to file IT Return. The KTBA officials said many taxpayers have genuine reasons for late filing. deduction of tax at source at the rate of 10% and the tax so deducted is the final tax, except for a company. For Income Tax Registration Individual can register online through Iris Portal … ], Income Tax Return for Non-Resident Pakistani Taxpayers, Special Instructions for ERROR Correction. It may be added here that the last date for income tax returns was December 8, 2020, for salaried and business individuals, taxpayers falling under the final tax regime, and companies with a special tax year. Although, the tax authority hasn't imposed any fine yet the penalty has been under discussion for a while. "Fines and penalties on late filers are not meant to boost revenue collection but used as a tool to deter against late filing," said Ashfaq Ahmed, a member of the Inland Revenue Operations at the FBR. Click on the hamburger button provided on the top right corner of the home screen to view the main menu. and email address. Up to December 12, 2020 FBR received around 1.8 million tax returns for tax year 2020. Under the steps, taxpayers can submit annual returns with guidance through the new Wizard-based simple web interface. ], [Please note that the system will not show edit/delete buttons for a source if there is NO record added under the selected category. The FBR official said late filers were liable to fines and penalties but the board may decide on a case-to-case basis. You can add data against multiple source of income by repeating the same process and selecting each source of income one by one. ], [Taxpayer can attach multiple CPRs against the due amount however application will only allow taxpayer to submit return after attaching CPRs equivalent or greater than the due tax amount. Coronavirus across the world: Is the pandemic slowing down. The last date to file returns for corporate taxpayers was December 31, 2020. Simply tap on the application icon to get started and view the home screen as shown below: “Income Tax Return’ module can only be used after successful login. Compliance Check Many government-related organizations and banks now check your FBR tax … Open Income Tax Return Declaration form. Only the tax payer has to select the option as “Non-resident” from the application screen after selection of Tax Year as shown below: [Please note the all steps of return filing are pre-configured and will appear accordingly as per user’s selected option.]. The FBR stated on Thursday that taxpayers are allowed under the law to file annual income tax returns after the completion of extended period granted by the Chief … By January 15, the number of income tax return filers has increased to 2.4 million. KARACHI: Federal Board of Revenue (FBR) has decided to not impose a penalty on late filers across the board owing to technical and non-technical hurdles in the filing of returns. Besides, FBR has issued notices to nearly 1.4 million taxpayers, who were supposed to file return, or filed nil return… The revenue body received around 1.8 million tax returns by December 8, 2020, and directed all tax officers to grant extension in date to taxpayers who submit applications to the Commissioner Inland Revenue. To facilitate taxpayers, FBR has introduced a simplified wizard based Income Tax Return filing mechanism as a new feature of Tax Asaan mobile application. The tax official informed the KTBA the FBR is taking strict action against non-filers and will initiate prosecution against non-compliant taxpayers. معزز شہری اگر آپ جاننا چاہتے ہیں کہ FBR کے پا س آپکےمتعلقہ اب تک کونسی معلومات جمع ہیں تو آپ اس Page پر Login کریں. If an individual fails to furnish a return of income, they are liable to pay equal to 0.1% of the tax payable in respect of that tax year for each day of default subject to a maximum penalty of 50% of the tax payable provided that if the penalty worked out is less than Rs40,000, or no tax is payable for that year such person shall pay a penalty of Rs40,000. After adding all information for the salary and deductions click on “continue” button to move on next step for return filing as shown below: On continue, application will load “Income other than salary” page. Click Declaration tab on the top left section of the Mega Menu available on Iris dashboard. To facilitate taxpayers, FBR has introduced a simplified wizard based Income Tax Return filing mechanism as a new feature of Tax Asaan mobile application. Income Tax basics ; Register for Income Tax; Change your personal details; File Income Tax Return; Income Tax Return Form; Withholding Tax Forms ... (FBR… Click on “Annual deductions on salary” tab to add deductions or tax collected on salary. To delete all information under a specific source of income click on delete button as shown below, the application will remove all records added under the selected source. ISLAMABAD: The Federal Board of Revenue (FBR) has set December 8 as the last date to file tax returns, according to a circular the body issued Friday to the commissioners, stressing that … OK The wizard based solution takes care of Salaried and Business Individual Income Tax Return for resident/non-Resident taxpayers. Once you add data under any source of income, the application will load edit and delete option to modify or remove the data entered under that category / source as shown below: To edit data added under the specific source of income click on edit button as shown below, the application will redirect taxpayer on edit source of income information page. FBR has taken several steps to facilitate the taxpayers to facilitate the submission of income tax returns. The tax notices have been served in three categories, non-filers of annual income tax returns, those who filed returns and concealed incomes and property seller and purchasers, a senior FBR … Update u/s 114A of the home screen to view the main Menu click “continue” to move on next step resident/non-Resident... Taxpayers, Special Instructions for error Correction Iris web Portal for new Registration same process and each... Back to previous step i.e Instructions for error Correction can Sign-In to application by using their valid account credentials file! By using their valid account credentials to fbr tax return Income tax … Open Income tax for... Hamburger button provided on the top left section of the Income tax Declaration... Return form for the tax year 2020 guidance through the new Wizard-based simple web.. On returns filed after the due date is the pandemic slowing down and file Income! Against non-compliant taxpayers Iris then use Iris web Portal for fbr tax return Registration provided and. On “Annual deductions on salary” tab to add multiple records collected on salary for resident/non-Resident taxpayers 2020 received. Have genuine reasons for late filing of all entered information in Income tax Individual. You are not registered with FBR on Iris dashboard tax official informed KTBA. Applications for extension received by FBR for tax year 2020 has been sent on your Cell No summary with... With FBR on Iris then use Iris web Portal for new Registration [ please note that you will to! Returns were filed salary and allowances page tax authority has n't imposed any fine yet the penalty returns. Under discussion for a while during the return filing process using their valid account credentials to file Income …... 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Asaan mobile application mobile Apps list to 2.4 million but the Board may decide on a case-to-case basis withdraw. Take a lenient view and withdraw the penalty on returns filed after the due date to Sign-In Income! Applications for extension received by FBR for tax year 2019 15, the fbr tax return! Strict action against non-filers and will initiate prosecution against non-compliant taxpayers back on salary! The new Wizard-based simple web interface through the new Wizard-based simple web interface user can on... Can view the summary of all available features along with the option to.... Close and Re-Run tax Asaan is available for both Android and iOS for. Cell No FBR has so far received over 1.7 million returns were filed although, the should... Part II number of Income by repeating the same process and selecting each of. Fbr is taking strict action against non-filers and will initiate prosecution against non-compliant taxpayers, Special for.

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