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KARACHI: Federal Board of Revenue (FBR) has been authorized to serve electronic notice and decision as legal document to sales tax registered persons. In this regard an amendment has been made to Section 56 of Sales Tax Act, 1990 through Finance Act, 2020. Prior to amendment the FBR was empowered to send electronically through email or to the e-folder maintained for the purpose of e-filing of sales tax-cum-Federal Excise returns by the limited companies, both public and private. However, through the amendment the FBR has been empowered to send electronic notice or decision to all registered persons. The serving of electronic notices by the FBR was legalized through Finance Act, 2017. The section 56 after the amendment shall be: “Section 56: Service of orders; decisions etc. – (1) subject to this Act , any notice, order or requisition required to be served on a resident individual, other than in a representative capacity for the purposes of this Act shall be treated as p...

ISLAMABAD: Persons falling under final tax regime are now required to file annual income tax returns. In this regard amendment has been made through Finance Act, 2020. Officials at the Federal Board of Revenue (FBR) said that a new clause (ae) to sub-section (1) of Section 114 of Income Tax Ordinance, 2001 has been introduced through Finance Act, 2020. “(ae) every person whose income for the year is subject to final taxation under any provision of this Ordinance.” Prior to the amendment the following list of persons were required to file annual income tax return. Section 114. Return of income.  — (1) Subject to this Ordinance, the following persons are required to furnish a return of income for a tax year, namely:– (a) every company; (ab) every person (other than a company) whose taxable income for the year exceeds the maximum amount that is not chargeable to tax under this Ordinance for the year;or (ac) any non-profit organization as defined in clause (36) of sectio...