• About
  • Advertise
  • Contact
Sunday, August 14, 2022
  • Login
WRITE FOR US
Economy.pk
  • Economy
  • Politics
  • Technology
  • Education
  • Life & Style
  • Health
  • World
No Result
View All Result
Economy.pk
  • Economy
  • Politics
  • Technology
  • Education
  • Life & Style
  • Health
  • World
Economy.pk
Home Business

FBR removes Taxpayers from ATL; Failing to upgrade profiles

bySidra Butt
March 26, 2021
in Business, Economy, Finance, Main, New
Reading Time: 2 mins read
0
FBR to remove taxpayers from ATL
57
SHARES
778
VIEWS
Share on FacebookShare on Twitter

While taking a step that may contract the tax base, the Federal Board of Revenue (FBR) has decided to remove the names of thousands of taxpayers from the Active Taxpayers List (ATL) for their failure to either submit or update their taxpayer profiles by 31 March 2021 under Section 114 A of the Income Tax Ordinance, 2001.

Officials from the FBR told Propakistani that it may remove the names of the taxpayers who have not updated their profiles, and will ask them to submit the prescribed penalty, and that that it had extended the deadline for the submission of the Taxpayer’s Profile to 31 March.

RelatedPosts

Independence Day: PIA Offers 14% Discount on Domestic Fares

Weekly inflation decreases slightly to 37.69pc

Pak-China corporation in Agriculture food security

The withdrawal of the names of taxpayers from the ATL may affect a large number of taxpayers who will not be able to either file or upgrade their taxpayers’ profiles by 31 March.

The FBR has linked the re-inclusion of taxpayers in the ATL on the condition of their payments of the prescribed penalty in the law. It has already clarified that salaried individuals are not required to update their tax profiles but every person applying for registration under Section 181 of the Income Tax Ordinance, 2001, including salaried individuals, is required to update their tax profile.

It explained that a taxpayer’s profile contains information about their income regarding bank accounts, utility connections, business premises including all manufacturing, storage, or retail outlets operated or leased by the taxpayer, types of businesses, and other such information that it may prescribe.

For now, if a person fails to furnish or update their taxpayer’s profile by either the due date or the extended deadline under Section 214 A, they shall not be included in the ATL for the latest tax year ending prior to the due date or the extended deadline.

The condition for the submission of the taxpayer’s profile covers certain categories of taxpayers like persons applying for registration, persons deriving an income chargeable to tax under the head, an income from a business, or an income subject to final taxation, non-profit organizations, and any trust or welfare institution.

Tags: Active Taxpayers ListIncome Tax Ordinance 2001PakistanTax
Sidra Butt

Sidra Butt

Related Posts

Independence Day: PIA Offers Discount on Domestic Fares

Independence Day: PIA Offers 14% Discount on Domestic Fares

Pakistan International Airlines (PIA) has announced a 14 percent discount on domestic flights for the 75rd Independence Day. In a...

Weekly inflation decreases slightly to 37.69pc

Weekly inflation decreases slightly to 37.69pc

The Sensitive Price Index (SPI), which tracks inflation, showed a 0.08 percent decline in the week ending August 11 compared...

Next Post
Roosevelt Island first hotel opening on this NYC island

Roosevelt Island: The first hotel to open on NYC Island

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

Independence Day: PIA Offers Discount on Domestic Fares

Independence Day: PIA Offers 14% Discount on Domestic Fares

Peshawar BRT: 104mn Passengers Benefited in Two Years

Peshawar BRT: 104mn Passengers Benefited in Two Years

Alibaba.com to Organize Faisalabad Seller Summit

Alibaba.com to Organize Faisalabad Seller Summit

How to Check and Pay PESCO Bill

PESCO Bill Online – How to Check and Pay PESCO Bill

How To Check and Pay MEPCO Bill

MEPCO Bill Online – How To Check and Pay MEPCO Bill

How to Check and Pay IESCO Bill

IESCO Bill Online – How to Check and Pay IESCO Bill

Connect with us

Twitter

Economy.pk

Economy.pk touches diverse topics with a lighter note and is geared toward audiences with various interests and all ages. Come and explore Economy.pk. Ample details and analysis are provided in extraordinarily readable manner making them compelling and interesting at the same time.

Category

  • World
  • Politics
  • Business
  • Technology
  • Education
  • Health
  • Life & Style
  • Opinions

Social Media

  • Facebook
  • Instagram
  • Twitter
  • Linkedin

Sitelinks

  • Sitemap

Download our APP

download on android app download on apple app
  • About
  • Advertise
  • Contact

© 2022 All Rights Reserved Economy.pk | Designed & Developed by Digital Otters

  • LATEST
  • World
    • Europe
    • Americas
    • Asia
    • Oceania
    • Africa
    • Canada
    • Middle East
  • Finance
  • Politics
  • Business
    • Economy
    • Finance
    • Entrepreneurship
    • Real Estate
  • Technology
    • Cyber Security
    • Mobiles
    • Social Media
  • Education
  • Sports
  • Life & Style
    • Personalities
    • Art
    • Culture
    • History
    • Entertainment
    • Fashion
    • Food
    • Health
      • Environment
      • Fitness
  • Sponsored

© 2022 All Rights Reserved Economy.pk | Designed & Developed by Digital Otters

No Result
View All Result

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In