Malik Law Chamber

14/06/2024

File your Tax Returns and become Active Tax Payer!!

For details contact: 0332 8500620

13/05/2024

For more details.. kindly contact at 0332 8500620

10/05/2024

Appeal fee and timeline to file an appeal !!

• ATIR
•High Court

For more details.. Kindly contact at 03328500620

01/05/2024

Providing unmatched Tax and Law Consultancy Services since 2011. Experienced and Competent team of Consultants cater all the requirements of our worthy clients. If you need any assistance, feel free to contact us.

30/04/2024

File your Tax Returns and become Active Tax Payer!!

For details contact: 0332 8500620

05/04/2024

For more details kindly contact: 03328500620

01/04/2024

24/03/2024

FBR'S NEW TAJIR DOST SCHEME-2024:

The scheme’s eligibility criteria specify that it will not apply to companies or units of national or international chain stores operating across multiple cities, as outlined by the FBR. Furthermore, specific individuals or classes of persons excluded by the FBR are also not covered under this scheme.

Scheduled to be implemented from 01.07.2024, the ‘Tajir Dost Scheme’ mandates that all traders and shopkeepers apply for registration under Section 181 of the Income Tax Ordinance, 2001, or through designated online platforms such as the Tax Asaan app or the FBR portal, or through FBR’s Tax Facilitation Centers by 30.04.2024.

In cases where eligible individuals fail to apply for registration, the Commissioner Inland Revenue is empowered to register them accordingly, with provisions of Section 182 of the Ordinance being applicable to non-compliant traders or shopkeepers.

Under the scheme, traders and shopkeepers are required to pay monthly advance tax, serving as a minimum tax on income derived from businesses covered under this initiative. The computation of monthly advance tax for a tax year will be prescribed by the FBR.

For those whose computed advance tax is zero, a minimum annual advance tax of Rs 1,200 is mandated, excluding income exempted under any provision of the Ordinance.

Moreover, the scheme provides a 25% reduction in advance tax payable if the entire remaining advance tax for the relevant tax year is paid in a lump sum before the due date or if income tax returns for the tax year 2023 are filed before the due date for the first monthly installment.

Monthly advance tax payments, effective from 01.07.2024, are due on the 15th of every month, with payments to be made through a separate computerized payment receipt against the Payment Slip ID (PSID) generated by the ‘Tajir Dost’ module or through FBR’s portal.

Initially, the scheme is rolled out for 6-major cities, including Karachi, Lahore, Islamabad, Rawalpindi, Quetta, and Peshawar, with the potential for expansion in the future.

The ‘Tajir Dost Scheme’ reflects the FBR’s commitment to supporting small traders and shopkeepers, offering them a simplified tax regime to foster compliance and contribute to the country’s economic growth.

09/03/2024

ایس آر او 350 مورخہ سات مارچ 2024
سیلز ٹیکس رولز میں درج زیل تبدیلیاں کی گئ ہیں
کسی بھی فرد اے او پی یا سنگل ممبر کمپنی ۔۔مینوفیکچرر کے علاؤہ
ان سب کے لیے لازم قرار دیا گیا ہے کہ
اپنی بیلینس شیٹ لازمی جمع کرواییں ورنہ انکا سیلز ٹیکس کا گوشوارہ جمع نہیں ہوسکے گا کمشنر کی منظوری کے بغیر

اگر بیلنس شیٹ جمع نہیں ہوگی تو IRIS میں رجسٹر بھی نہیں ہوسکے گا
رجسٹرڈ بندے کو ہر سال جولائی میں نادرا آی سہولت سے بایو میٹرک کروانی ہوگی
ظاہر کردہ سرمایہ سے پانچ گنا زیادہ سیلز ظاہر کرنے کی صورت میں کمشنر سے منظوری لینا ہوگی
اب اگر خریدار اپنے گوشوارہ میں خریداری کی انوایسز اسی ماہ میں ظاہر نہیں کرے گا تو فروحت کنندہ کی ریٹرن provisional سمجھی جایے گی جب تک کہ خریدار اپنی ریٹرن فایل نہیں کرتا