FBR chief, Karachi Tax Bar take up tax refunds

Members of Karachi Tax Bar Association met with Federal Board of Revenue (FBR) Chairman Rashid Mehmood Langrial in Karachi on Thursday, reported 24NewsHD TV channel. 

The FBR Charmain informed the meeting that a procedure is being prepared for the refund of tax collected through Section 7E.

He said the process of refunding Section 7E tax is being done in the light of the court decision.

Rashid Mahmood Langrial said the FBR is resolving the technical issues of income tax returns and IRIS portal.

He said about 2.2 million income tax returns were submitted from across the country till September 9, which was 1.724 million in the same period last year.

Karachi Tax Bar demanded that the last date for submitting income tax returns should be extended.

Faceless audit and artificial intelligence-based tax audit system was discussed in the meeting.

Tax Bar should file more and more returns through the small traders’ scheme, FBR Chairman said.

Reporter: Baseem Iftikhar