AGL 5.51 Increased By ▲ 0.11 (2.04%)
ANL 8.49 Decreased By ▼ -0.30 (-3.41%)
AVN 75.73 Decreased By ▼ -0.43 (-0.56%)
BOP 5.21 Increased By ▲ 0.04 (0.77%)
CNERGY 4.42 Decreased By ▼ -0.06 (-1.34%)
EFERT 81.53 Increased By ▲ 0.43 (0.53%)
EPCL 49.54 Increased By ▲ 0.54 (1.1%)
FCCL 12.68 Decreased By ▼ -0.02 (-0.16%)
FFL 5.52 Decreased By ▼ -0.07 (-1.25%)
FLYNG 6.74 Decreased By ▼ -0.24 (-3.44%)
FNEL 4.64 Increased By ▲ 0.01 (0.22%)
GGGL 8.45 Decreased By ▼ -0.14 (-1.63%)
GGL 13.85 Decreased By ▼ -0.21 (-1.49%)
HUMNL 6.03 Increased By ▲ 0.53 (9.64%)
KEL 2.56 Decreased By ▼ -0.04 (-1.54%)
LOTCHEM 27.62 Decreased By ▼ -0.09 (-0.32%)
MLCF 23.75 Increased By ▲ 0.07 (0.3%)
OGDC 71.22 Decreased By ▼ -0.23 (-0.32%)
PAEL 15.16 Decreased By ▼ -0.04 (-0.26%)
PIBTL 4.87 Decreased By ▼ -0.04 (-0.81%)
PRL 15.86 Increased By ▲ 0.06 (0.38%)
SILK 1.09 Increased By ▲ 0.04 (3.81%)
TELE 8.84 Decreased By ▼ -0.15 (-1.67%)
TPL 7.08 Decreased By ▼ -0.08 (-1.12%)
TPLP 19.20 Decreased By ▼ -0.02 (-0.1%)
TREET 20.87 Decreased By ▼ -0.27 (-1.28%)
TRG 136.73 Decreased By ▼ -0.02 (-0.01%)
UNITY 16.54 Decreased By ▼ -0.26 (-1.55%)
WAVES 9.16 Increased By ▲ 0.06 (0.66%)
WTL 1.34 Decreased By ▼ -0.03 (-2.19%)
BR100 4,158 Decreased By -27.7 (-0.66%)
BR30 15,339 Decreased By -127.2 (-0.82%)
KSE100 41,652 Decreased By -167.7 (-0.4%)
KSE30 15,380 Decreased By -68.1 (-0.44%)
Follow us

The Federal Board of Revenue (FBR) on Tuesday enabled a refund adjustment tab in the income tax return forms to ensure smooth filing of returns and improve ease of doing business and decrease the cost of compliance for taxpayers.

‘Past refund adjustment claims are being rejected’: FBR removes a tab from new IT return form under IRIS

In a press release, the FBR said it had received a number of representations from various tax bars, businesses, and other stakeholders on the issue of the non-availability of the refund adjustment tab in the return forms available in IRIS, an online portal of FBR for return filing, after which the adjustment tab was enabled.

"This facility will allow taxpayers to adjust their pending refund claims against admitted liability of TY 2022 at the time of filing tax returns who had filed applications to claim their outstanding refunds of previous years," the press release added.

It added that the refund applications filed up to 27.09.2022 are eligible for adjustment of refunds. "This facility is available to all taxpayers who have not claimed excess adjustment against previous years’ refunds."

Earlier, the FBR had removed refund adjustment tab from Tax Year 2022 under the IRIS, denying taxpayers to adjust their tax liabilities against past years' refunds.

The issue forced the Federal Tax Ombudsman’s office to conduct its own motion investigation against the FBR as to why the tab has been removed from the return through the IRIS system.

Comments

Comments are closed.

Saleem Sep 29, 2022 12:07am
Those who have already submitted tax return 2022, how they adjust the refund amount. Thanks
thumb_up Recommended (0)

FBR enables 'refund adjustment tab' in tax return forms

Forex reserves fall to $6.7bn on repayments

CARs: ADB lists barriers to trade flows

FX reserves may rise in H2FY23: All debt repayments on track, says SBP governor

Saudi Arabia, China sign strategic deals

‘Country of Particular Concern’: Pakistan conveys its concerns to US

765kV DC transmission lines: FD asks PD to take action on award of contract

Cabinet approves restoration of 11 revoked POL exploration licences

Amendments to power plants’ documents,transition from USD Libor benchmark to SOFR: MoF urges PD to nominate body as focal point

Consignments of imported soybean feed: FTO may issue release order today

Pharma supplies: KTBA urges FBR to revisit clarification about ‘further tax’