Fayzan & Co

Fayzan & Co Fayzan & Co
|Audit & Assurance | Tax Advisory | Corporate Law | Accounting Services. Your trusted partner for financial & legal excellence.

Assalam O Alaykum WRBI would like to inform you that filing of Tax Return of individuals and AOP for the Tax Year 2021 i...
01/07/2021

Assalam O Alaykum WRB

I would like to inform you that filing of Tax Return of individuals and AOP for the Tax Year 2021 is mandatory now.
So kindly arrange the following documents for submission of returns (from 1-7-2020 to 30-6-2021);
1. Income detail(salary, Business income, capital gains, property income, foreign income/remittances, agriculture, Other Income, etc)
2. Tax deduction details Pakistani and foreign tax (in case of foreign income)
3. Utilities Bills (of business premises and residential)
4. All Bank Account Statements ( 1-July 2020 till 30-June 2021)
5. Movable & immovable Assets detail ( inside Pakistan & out side Pakistan)
6. Expenditure detail specially huge expenses like (Medical+children's University /College fee etc) along with Tax withholding certificate
7. Foreign tour detail if any
8. Investment details
9. Profit & Tax on investment
10. Liabilities details (loans, credits, Account payable etc)
11. Gift received or Gift given
12. Agriculture tax payment challan
13. Donation or zakat paid to FBR approved organization only.
Please provide us any other information and supporting documents related to your income tax return and wealth statement from 1st July 2020 till 30 June 2021.
Pls feel free to contact with us

Fayzan & Co
Office # FF-241 First Floor, Deans Trade Center, Peshawar
03327888851
091-5250435

01/07/2021

Income Tax Return 2021 Update

FBR News Alert!
The FBR has opened the IRIS portal for filing annual return of income for tax year 2021 from today (01.07.2021)

The taxpayers can login with their Id & password to the IRIS portal of the FBR and file their income tax return.

The FBR also launched today (01.07.2021) the income tax return forms for salaried persons, association of persons and companies having special tax years.

In the past the FBR was under criticism for delayed issuance of income tax return form which resulted in multiple extensions in date for filing the tax returns.

As the FBR opened the portal for return filing of tax year 2021 therefore the last date is 30.09.2021 in case of salaried persons, AOP's and business individuals.
Pls feel free to contact with us

Fayzan & Co
Office # FF-241 First Floor, Deans Trade Center, Peshawar
03327888851
091-5250435

26/02/2021

ISLAMABAD: Federal Board of Revenue (FBR) on Wednesday said it will issue Active Taxpayers List (ATL) for tax year 2020 on March 01, 2021.

The ATL-2020 will include names of those taxpayers who had filed their income tax returns by due date or those who had filed their income tax returns after the due date with payment of surcharges.

At present ATL-2019 is applicable for deduction of withholding taxes at various transactions.

The FBR said that it released ATL every year on March 01 and it remained valid till last day of February next year.

The revenue body said that persons included in the ATL have various benefits such as exemption from withholding tax at the time of cash withdrawal. Further, other banking transactions and payment of educational fees are also exempted from withholding tax for those persons whose names are on the ATL.

Similarly, those persons appeared on the ATL are entitled to pay reduced rate of withholding tax in making transactions including imports, profits, services, contracts, profit on debt, prizes, purchase of motor vehicles and immovable properties etc.

The FBR said that names of those persons would be included in the ATL-2020 who filed their annual returns within given deadline or filed within extended date given by Commissioner Inland Revenue.

The revenue body said that the ATL is being updated on weekly basis and available on the official website and mobile applications.

Those individuals and companies that failed to make compliance of return filing by due date or extended date given by commissioners Inland Revenue would require to pay surcharges for appearance on the ATL.

The rate of surcharge is Rs20,000 for corporate entities and Rs10,000 for Association of Persons, the FBR added.

30/01/2021

Internee Required for tax & audit firm.

19/01/2021

Male or Female Internee Required for Tax & Audit Firm in Peshawar
Fayzan & Co

05/11/2020

Submit your tax returns on Time, to avoid Penalty!!!!
For for Information contact.

Address

FF-16, 18 First Floor Deans Trade Center. Peshawar
Peshawar

Opening Hours

Monday 22:00 - 19:00
Tuesday 10:00 - 19:00
Wednesday 10:00 - 19:00
Thursday 10:00 - 19:00
Friday 10:00 - 19:00
Saturday 10:00 - 19:00

Telephone

+923327888851

Website

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