Ai Tax Consultant

04/08/2021

Last Date to File Income Tax Return for The Year 2021 is 30th September 2021.

Kindly Submit Your Return Before Due Date & Avoid From Penalties Under 182 Section.

Thank You
For Further Proceedings/Details Contact:

Mobile: 0308-2731512

06/07/2021

FBR has opened portal to file Income Tax Return 2021.

Last Date is Due on 30-September 2021. Kindly file your return within Due Date and avoid penalties. Be an active taxpayer (ATL)

Thank you.
(A.i Tax Consultant)

05/06/2021

https://propakistani.pk/2021/06/04/fbr-will-not-be-allowed-to-issue-notices-to-most-taxpayers-from-july/?fbclid=IwAR0f06XwmJI1J2sEmGNIlDRmic8HmTDz4JEwLkeMFxmUhAzLHwMBOvTRwvI

The Federal Board of Revenue (FBR) has been barred from issuing notices to the taxpayers who are able to perform

27/05/2021

FBR Directs Officials to avoid initiating audit on assumptions.

26/05/2021

13/05/2021

25/03/2021

(Reminder for NTN holders)

Statutory deadline for furnishing/updating of taxpayers' profile under section 114A of the Income Tax Ordinance, 2001 is 31stMarch 2021. Please update your profile before the deadline in order to avoid penal consequences under the law.

Note:
Name of the taxpayer shall not be included in Active taxpayer list.

Rs. 2,500/- per day penalty shall also be charged.

30/11/2020

Last Date to File Income Tax Return is due on 8-Dec-2020.

Please file your return before due date and avoid late filling penalty u/s 182.

A.i Tax Consultant Providing Tax Services in very low and nominal charges.

DM for more details

04/10/2020

FBR clears up confusions about sales tax levy on used vehicles business
Web Desk On Oct 3, 2020
ISLAMABAD: The Federal Board of Revenue clarified on Saturday the ‘misunderstanding’ that emerged following the amendment in its Sales Tax Rules 2006 for the sale and purchase of used vehicles and said that instead of levying more taxes the board has ‘extended concessions’, ARY News reported.

It said in a statement that before the amendment the sales tax of 17 per cent was levied on the total value of the selling amount.

The revenue body noted that earlier, according to law, the tax amount was much higher.

In a notification, the board said that after the consultations with Chambers of Commerce, it wrought out a clause in the Finance Act 2020 which deals with the taxation formula on sales and purchase of used vehicles.

The board claimed that the addition of the new clause was to encourage the business of sales and purchase of used vehicles as it now limits the levy of 17% tax on just the differential amount and not on the whole amount of sale.

READ: FBR felicitates historic quarterly tax collection exceeding Rs1tr mark

Earlier, it noted, the tax levy was calculated on the actual amount of sale/purchase.

However, the tax watchdog said that this concession was only extended to registered people while the unregistered sellers will not be able to demand sales tax from the buyers.

The act has been finalized after and has been enforced after the amendment was materialized, the FBR notification read.

04/10/2020

ایف بی آر کی جانب سے استعمال شدہ کاروں کی خرید و فروخت پر سیلز ٹیکس عائد کرنے کا فیصلہ

فیڈرل بورڈ آف ریونیو (ایف بی آر) کی جانب سے استعمال شدہ کاروں کی فروخت اور خریداری سے سیلز ٹیکس وصول کرنے کے فیصلے کا اعلان کیا گیا ھے۔

ایف بی آر نے قانونی گاڑیوں کے کاروبار کو باقاعدہ بنانے اور قانونی گاڑیوں کے کاروبار سے سیلز ٹیکس وصول کرنے کے لئے قوانین جاری کیے ہیں۔ یہ ایک قانونی ضابطے کے آرڈر (ایس آر او 931 (I) / 2020) کے ذریعے ہے۔ ایک ٹیکس عہدیدار کے مطابق ، ایف بی آر کو اس طرح کے لین دین پر 17٪ سیلز ٹیکس ملے گا اور اگر استعمال شدہ کار کی فروخت غیر رجسٹرڈ شخص (نان فائلر) کو کی جاتی ہے تو مزید 3٪ ٹیکس عائد کیا جائے گا۔

ریجنل ٹیکس آفس ، کراچی کے عہدیدار نے بتایا کہ اگر استعمال شدہ کار پہلی فروخت کی قیمت سے زیادہ قیمت پر فروخت کی جاتی ہے۔ فروخت اور خریداری کے درمیان فرق کی رقم میں اضافہ ہوگا اور فارمولہ اس کی تشخیص کے عمل کو برقرار رکھے گا۔

ایف بی آر کا کہنا ہے کہ کار ڈیلروں کی ایک بڑی تعداد استعمال شدہ گاڑیوں کی خرید / خریداری کے کاروبار میں مصروف ہے لیکن وہ نہ تو ٹیکس اتھارٹی کے ساتھ رجسٹرڈ ہیں اور نہ ہی لین دین پر سیلز ٹیکس کی ادائیگی کرتے ہیں۔ فنانس ایکٹ 2020 کے تحت ، سیلز ٹیکس ایکٹ 1990 میں ایک ترمیم کی گئی تھی۔

عہدیدار کا مزید کہنا تھا کہ استعمال شدہ گاڑیوں سے متعلق قواعد کو متعارف کرانے کا مقصد کار ڈیلرز کو ٹیکس حکام کے ساتھ اندراج کروانے پر مجبور کرنا ہے۔ عہدیدار نے مزید بتایا کہ بیچنے والے / خریدار کی شناخت کے لئے بینکنگ چینلز کے ذریعہ فروخت / خریداری کی ادائیگی بھی لازمی کردی گئی ہے۔

02/10/2020

Some of our clients asked us about the benefits of NTN Registration and Filing of Income Tax Return, so there are some advantages for Filers and Disadvantages for Non-Filers:

1. On cash withdrawal of more than Rs 50,000, Filers required to pay only 0.3 percent tax while non-filer pays 0.6 percent tax.

2. On bank’s profit, and saving scheme filer pays 10 percent tax against the 15 percent tax paid by non-filers.

3. For the prize money of prize bonds, active taxpayers pay a 15% tax while non-filers pay 25% tax.

4. Tax filing contractors are required to pay a 7.5% tax on the amount of contracts while non-filers pay a 15% tax.

5. For vehicle registrations tax filer pays Rs 15000 to Rs 250,000 as withholding tax whereas non-filer pays Rs 25000 to Rs 400,000.

6. There is no restriction for the tax filer to purchase any property worth more than Rs 50 million by the government as compared to non-filers.

7. A total of 20% tax is liable on the dividends (company’s profit) of non-filers against the 15% tax rate set for tax filers.

8. If a filer is an importer of raw materials, he will have to pay only a 5.5% tax on the import of raw materials whereas the non-filer has to pay 8% tax.

9. For commercial exports, filer exporters are required to pay only 6% duty on export of goods whereas non-filer exporters pay 9% duty.

10. On the supply of goods to the government and companies, taxpayers are required to pay 4.5% duty whereas non-filers pay 9% tax duty.

Moral:
Tax filer is required to pay only half taxes as compared to the non-filer.

From,
(Ai Tax Consultant)