Category: Iris

Liberated Model – Taxpayer Authentication

Taxpayer Authentication Process While registering with third party solution, taxpayer will be required to verify his/her identity from FBR registration data. With the help of this authentication process, taxpayer and third parties shall be bounded to bear any security breaches at their end before sending data to the PRAL. OTP (One Time Password) Authentication via SMS Third-party solution is required to display following declaration and submit the same to FBR system after successful SMS verification […]

Iris – Application to File Condonation Request against Reference Order

Iris web application provides a platform to the Taxpayer to file condonation application against the time barred appeals. Taxpayer can only apply for appeal against the issued order within 30 days from the date of issuance. After the passage of 30 days, Taxpayer needs to submit condonation application. Once the CIR Appeal admits the condonation application, the taxpayer shall be able to file an appeal against the relevant reference order.

Iris – Application to File Appeal against Reference Order

Iris web application facilitates Taxpayers for submitting application online to file appeal against reference orders. Taxpayer is allowed to file appeal against Reference Orders such as Assessment Orders, Penalty Orders, Default Surcharge Orders and Other/Miscellaneous Orders. Please note that the Taxpayer can only apply for appeal against the issued order within 30 days from the date of issuance. After the passage of 30 days, Taxpayer needs to submit condonation application first to get permission for filing appeal against such reference orders.

Iris – Registration as Purchaser

This module is available under Iris web application for Registration as Purchaser u/s 100D(4). Taxpayer can add details of purchased Building/Unit against already registered projects. To find details about adding project, please view help for “Declaration of Builder / Developer”. Similarly taxpayer can provide details about purchase of plot by selecting registered sellers only.

Iris for FBR Officials – Physical Verification Survey by Tax Officers

The purpose of “iris for FBR Officials – Mobile Workforce Management” application is to conduct Physical Verification Survey for taxpayers who have just applied for Sales Tax Registration. This application is developed for Android Tablets supported by specialized Biometric devices. After Filing of Sales Tax Registration, applicant is required to get its Biometric verification done through any NADRA e-Sahulat center. As soon as NADRA Biometric Verification is successfully done, a Physical Verification visits of the premises of the applicant will be scheduled and assigned to Tax office team as per jurisdiction. Verification team will will visit the taxpayer premises on the scheduled date and will conduct the survey in accordance with all the required officials SOPs. All the data will be recorded using this application.

Definition of Non- Banking Finance Company

*Non-banking finance company means an NBFC as defined in the Non-Banking Finance Companies (Establishment and Regulation) Rules, 2003. A non-banking finance company is defined as a company that is licensed by the Commission to engage in one or more forms of business in terms of rule 5 provided that its memorandum and articles of association permits it to do so, and includes asset management company, discount house, housing finance company, investment adviser, investment finance company, […]

Definition of Profit on Debt

Profit on a debt *[whether payable or receivable, means]  any profit, yield, interest, discount, premium or other amount **[,] owing under a debt, other than a return of capital; or any service fee or other charge in respect of a debt, including any fee or charge incurred in respect of a credit facility which has not been utilized Profit on debt shall be Pakistan-source income if it is a.  paid by a resident person, except […]

Definition of Leasing Company

*Leasing company means a leasing company as defined in the Non-Banking Finance Companies and Notified Entities Regulation, 2007. “Leasing Company” means a Non Banking finance Company licensed by the Commission to provide leasing.     *The above clause substituted by the Finance Act, 2008. The substituted clause read as follows: “leasing company “means a company licensed under the Leasing Companies (Establishment and Regulation) Rules, 2000”.

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