Bukhari Consultant

06/10/2026

📢 *FBR Draft Amendments in Income Tax Rules, 2002*
_Notified 06 Oct 2026 | S.R.O. 1689-1692(I)/2026_
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🚢 *S.R.O. 1689 – Rule 37 (Sec. 143)*
*Non-resident ship owners / charterers*
https://www.fbr.gov.pk/Downloads/?id=17748&Type=SROs
> • Return to be filed electronically on IRIS, auto-generated per VIR
> • PSW will send vessel data to IRIS
> • Payment via PSID → CPR; return can't be submitted until all payments are linked
> • Extension application must be filed before departure, with security (bank guarantee / pay order / PDC, max 30 days from departure)
> • Recovery to be initiated against the *authorised shipping agent*

📋 *S.R.O. 1690 – New Rule 38B (Sec. 120(2A))*
*Automated scrutiny*
https://www.fbr.gov.pk/Downloads/?id=17751&Type=SROs
> • System (incl. CRM) to flag discrepancies in returns via IRIS advance intimation
> • Taxpayer gets *at least 7 days* to respond, plus a reminder of at least 7 days
> • Record goes to the jurisdictional IRO, who acts on the response
> • Intended to give a chance to rectify *before* any legal or penal action

📋 *S.R.O. 1691 – Rule 81B (Sec. 182A(3))*
*Active Taxpayers' List for late filers*
https://www.fbr.gov.pk/Downloads/?id=17749&Type=SROs
> • Individuals filing late can be included in the ATL *without surcharge*
> • Condition: undertaking in new *Form ATL-U* via IRIS
> • Undertaking: no purchase or acquisition of any property for *6 months* from the IRIS acknowledgement date
> • FBR may verify from third-party data; breach means hearing opportunity, then benefit withdrawn from the date of breach

💻 *S.R.O. 1692 – New Rule 33U (Sec. 64D)*
*Tax credit for integration with FBR system*
https://www.fbr.gov.pk/Downloads/?id=17750&Type=SROs
> • Applies to persons required to integrate under ITO, STA or FEA
> • Resource must be installed and integrated *during the tax year* and used exclusively for integration
> • Needs an FBR activation or integration record plus invoice and payment proof
> • Excludes maintenance, internet, salaries, training and refundable taxes; no double claim

⏳ *Objections / suggestions deadline*
• S.R.O. 1689, 1691, 1692: *7 days* from Gazette publication
• S.R.O. 1690: *3 days* from Gazette publication

💡 *Takeaway:* Late-filer ATL relief now comes with a 6-month property freeze, and automated notices will soon need a timely response.

06/10/2026

SECP asks companies to hold AGMs by October 28, 2026
The SECP advises companies whose financial year ended on June 30, 2026, to hold their Annual General Meeting (AGM) by October 28, 2026 and complete their Annual Return and Ultimate Beneficial Ownership (UBO) filings.

05/10/2026

04/10/2026

FBR INTRODUCES FACELESS AUDIT AND ASSESSMENT
​Through S.R.O. 1665(I)/2026 dated 29 September 2026, the FBR has introduced Chapter XX of the Income Tax Rules, 2002, establishing a framework for Faceless Audit and Assessment through the National Faceless Center.
​Key Highlights
​The Center will comprise Audit, Assessment, Quality Control and Field Operations Wings.
​The framework applies only to cases specifically assigned by the FBR under Section 122E; it does not automatically cover every taxpayer.
​It may cover audit, assessment, amendment of assessment, best judgment assessment and provisional assessment.
​Audit, assessment and quality control functions will be separately allocated, and the same officer cannot perform more than one function for the same case and tax year.
​Notices, orders and submissions will generally be handled electronically through IRIS, with communications carrying a Digital Identification Number (DIN).
​The Audit Unit may seek further information, obtain third-party information, use technical or forensic assistance, and conduct E-Hearings, including recording statements on oath where required.
​Physical verification remains possible through the Field Operations Wing where necessary.
​A separate Quality Control Unit will review audit reports, notices and orders for legal and factual compliance.
​Cases may be transferred to the concerned Commissioner where faceless proceedings are impractical, including matters involving extensive physical records, repeated verification, search and seizure or prosecution.
​In essence, the framework moves specified tax proceedings towards a more digital and functionally separated process, while retaining physical verification and case-transfer mechanisms where necessary.
​For taxpayers, monitoring IRIS communications and compliance deadlines will be particularly important where a case is assigned to the National Faceless Center.
​

04/10/2026

🇵🇰 The Government of Pakistan Finance Division has officially notified the General Provident Fund (GP Fund) mark-up rates.
The interest rate for the Fiscal Year 2025-26 is set at 12.05%, down from 12.46% in the previous year.
Official notification of August 2026.

04/10/2026

Dont miss your annual filling company

04/10/2026

Section 7E ke tehat pay kiya hua tax return ab revise kr refund kr sakty hain

04/10/2026

کبھی بھی ان 3 افراد سے اپنا انکم ٹیکس ریٹرن فائل نہ کروائیں اور نہ ہی فائلر بنیں:
​بینک مینیجر: جو خود اپنا ریٹرن جمع کروانے کے لیے کسی پروفیشنل کنسلٹنٹ کی خدمات لیتا ہے، وہ آپ کو ٹیکس فائلر بنانے یا صحیح ریٹرن فائل کرنے کا اہل نہیں ہو سکتا۔
​پراپرٹی ڈیلر: جو صرف اپنا کمیشن بنانے اور وقتی ٹیکس بچانے کے لیے آپ کے آن گراؤنڈ اثاثوں (Assets) اور آمدن (Income) کو سمجھے بغیر کچھ بھی فائل کر دیتا ہے۔
​پٹواری یا تحصیلدار: جو پراپرٹی کی ٹرانزیکشن کے وقت وقتی بچت کا لالچ دے کر صرف CNIC کی کاپی لیتا ہے اور آپ کو فائلر بنا دیتا ہے۔ اسے نہ تو آپ کی سالانہ آمدن کا علم ہوتا ہے اور نہ ہی مستقبل کی ٹیکس پلاننگ کا۔
​یاد رکھیں!
ٹیکس ریٹرن صرف ایک "ڈیٹا اینٹری" کا فارم نہیں ہے۔ غیر متعلقہ بندے سے ریٹرن فائل کروانا آگے چل کر ایف بی آر (FBR) کے نوٹسز اور بھاری جرمانے کا باعث بن سکتا ہے۔
​ہمیشہ ایسے پروفیشنل ٹیکس کنسلٹنٹ کی خدمات حاصل کریں
ITP Ameen Shah Bukhari
7 Years of Experience in Tax Consultancy
Whats app no 03168846823

04/10/2026

نیا AI نظام ہر ٹیکس ریٹرن کو پہلے خودکار طور پر چیک کرے گا اور پھر مشکوک یا غیر معمولی کیسز کی مزید جانچ کرے گا۔ یہ ریٹرن کو ٹیکس قوانین، دیگر ملتے جلتے ٹیکس دہندگان اور پراپرٹی، گاڑی، سفری اور بینکنگ ڈیٹا سے ملائے گا۔
اگر نمایاں تضاد سامنے آئے تو کیس خودکار طور پر FBR کے Compliance Risk Management (CRM) نظام اور National Faceless Centre کو بھیج دیا جائے گا۔لہٰذا اپنی ٹیکس ریٹرن اور ٹیکس ریکارڈز کی پیشہ ورانہ جانچ اور درستگی کا عمل فوری طور پر مکمل کریں۔
Contact us for Tax Consultancy at wa.me/923168846823

03/10/2026

📢 *FTO REVIEW ORDER—SECTION 221 APPLICATION*
⚖️ *Federal Tax Ombudsman (FTO)*, in Review Petition *Complaint No. 07345/LHR/IT/2026*, dated *16.09.2026*, decided on 30.09.2026 has directed timely disposal of a pending application filed *u/s 221 of the Income Tax Ordinance, 2001*.

🔹 The taxpayer had filed a *Section 221 rectification application on 17.02.2026*, which remained pending.
🔹 FTO observed that the statutory period *u/s 221(3)* does not mean that the competent authority can necessarily wait until the expiry of that period to perform its statutory function.
🔹 FTO held that *timely disposal of a pending application u/s 221* can be recommended without examining its merits or directing any particular outcome.

📌 *Recommendation:* FBR has been directed to instruct the concerned Commissioner to dispose of the application *within 20 days* of receipt of the FTO order and report compliance.

⚠️ The FTO clarified that the order expresses no opinion on the merits or outcome of the Section 221 application.
*PDF Link of FTO Order:*👇
https://fto.gov.pk/assets/decisions/review_07345_2026.pdf