Heading: How to Claim Income Tax Refund in Pakistan? - 2024-04-07
Claiming income tax refunds in Pakistan has become a streamlined process, ensuring ease and efficiency for taxpayers. The Federal Board of Revenue (FBR), Pakistan’s premier tax authority, has delineated the steps necessary for obtaining income tax refunds. Refunds are only applicable to individuals who have filed their Income Tax Returns electronically through Iris. Manual returns do not qualify for refunds, emphasizing the importance of electronic filing. To claim a refund, the amount must be explicitly stated in the Income Tax Return submitted via Iris. Following the submission, a separate application must be filed through Iris to claim the refund. Taxpayers can monitor the status of their application by visiting their respective Regional Tax Office (RTO). It’s essential to note that refunds can also be claimed retrospectively within two years from the date of filing the return (date of assessment) or from the date the tax was paid, whichever is later. However, individuals filing tax returns after the specified due date will not be entitled to refunds during the period they are not included in the Active Taxpayers List (ATL). Income Tax authorities will not be liable for compensating delayed refunds during this period, and it will not be considered for computing additional payments for delayed refunds. A centralized system for online payment…