Category: Income Tax

FAQs for Tax Amensty Scheme

  How can I get copy of the Tax Amnesty Schemes? You can access and download copy of the Tax Amnesty Schemes from FBR website at http://www.fbr.gov.pk/TaxAmnesty2018.html. How to file declaration for availing Tax Amnesty? You will file declaration online at FBR site. For this purpose, FBR has prepared a detailed “User Guide” which, among…

How to Register & File Declaration and repatriation of assets and income held outside Pakistan under Ordinance , 2018

How to Register for Tax Amnesty ? (If you are already registered taxpayer, use your exiting Iris Login credentials to file Amnesty Tax Declarations) Click here to view procedure to Register for Tax Amnesty.   How to open Foreign Assets Declaration Form ? Open the FBR Iris portal URL: https://iris.fbr.gov.pk/infosys,  following screen will be displayed: Enter your…

How to Register & File Voluntary declaration of domestic assets under under Ordinance , 2018

How to Register for Tax Amnesty ? (If you are already registered taxpayer, use your exiting Iris Login credentials to file Amnesty Tax Declarations) Click here to view procedure to Register for Tax Amnesty.   How to open Domestic Assets Declaration Form ?   Open the FBR Iris portal URL: https://iris.fbr.gov.pk/infosys,  following screen will be displayed: Enter…

How to Register for Tax Amnesty

How to Register for Tax Amnesty ?   Open the FBR Iris portal URL: https://iris.fbr.gov.pk/infosys,  following screen will be displayed: If you are already registered taxpayer, use your exiting Iris Login credentials to file Amnesty Tax Declarations. If you are unregistered person, click “Registration for Tax Amnesty (If not already registered)” link shown in above screenshot.…

Salary Arrears

LAW Under Section 12(7) of the Income Tax Ordinance, 2001, if an employee (a) is paid salary in arrears, and (b) as a result of this arrear payment, he is chargeable to tax at higher rates of tax than would have been applicable if the amount had been paid in the tax year in which…

Employment Termination Benefits

LAW Under Section 12(2)(e)(iii) of the Income Tax Ordinance, 2001, Salary includes any amount received on termination of employment including any compensation for redundancy or loss of employment and golden handshake payments Under Section 12(6) of the Income Tax Ordinance, 2001, an employee who has received such payment can elect for the amount to be…

Tax Reduction for Disabled Taxpayer

LAW Under Clause 1B of Part I of the First Schedule to the Income Tax Ordinance, 2001, an individual taxpayer is entitled to 50% reduction in tax liability if he fulfills the following conditions He / she holds a NADRA CNIC for disabled persons The taxable income in the tax year (excluding income on which deduction…

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