Sales Tax Return SRO 350
– as per Sales Tax Return SRO 350 Automatic registration is no longer available for individuals, AOPs, and single member companies
– The (LRO) will review and approve registration applications to ensure all required information and documents are submitted.
- Balance Sheet:
(a) Only individuals, associations of persons, and single member companies (excluding manufacturers) shall file a balance sheet.
(b) The balance sheet shall be filed for a specific date, namely:
(i) For persons registered before June 30, 2023, as of June 30, 2023.
(ii) For persons registered after June 30, 2023, as of the date of filing.
(c) No further balance sheet shall be required unless the registration is modified as per Sales Tax Return SRO 350
- Sales Tax Return:
– The Commissioner can reject sales tax returns without a balance sheet.
– The Commissioner may disallow returns with sales exceeding five times business capital if:
– Business capital is not declared.
– Sales don’t arise from bank-financed or credit purchases.
– If you can’t provide information on business capital, loans, and credit purchases, your transactions may be considered suspicious, and the Commissioner may not allow filing
S.R.O.582 2024 Sales Tax
S.R.O.582 2024 Sales Tax
S.R.O.582 2024 Sales Tax In exercise of the powers conferred by section 50 of the Sales Tax Act, 1990, the Federal Board of Revenue is pleased to direct that the following further amendments shall be made in the Sales Tax Rules, 2006,
- for the expression “with corresponding assets in the bank, amounts attributable to partners with percentage, as the case may be, the expression substituted; and
- in the proviso, the expression “within thirty days from the date the said requirement comes into force” shall be omitted
If you need any further help feel free to contact Us.We will guide you.
Please update your registration form to provide balance sheet details
If you find a error duirng the submission of monthly sales tax retrun Please update your registration form to provide balance sheet details u/r 5(2)(f), in order to file sales tax return without approval of commissioner then you shoud file balance sheet in registration form.
- Login IRS acccount
- Click Registration Tab
- Forms
- 14(1) (Sales Tax registration modification to add the balance sheet u/r 5(2)(f)) (Sales Tax)
If you need further help feel free to contact us.
How to submit balance sheet in IRS
How to submit balance sheet in IRS
If you are unable to file march 2024 sales tax retrun and facing error (You have not provided your balance sheet u/r 5(2)(f). Please add the balance sheet or submit a request to your commissioner for approval).Its mean you have not submitted balance sheet as per SRO (350) 2024.How to submit balance sheet in IRS
Please update your registration form to provide balance sheet details u/r 5(2)(f), in order to file sales tax return without approval of commissioner.
How to file balance sheet application 14(1) (Sales Tax registration modification to add the balance sheet u/r 5(2)(f)) Sales Tax?
- Got to registration tab
- forms
- Open 14(1) (Sales Tax registration modification to add the balance sheet u/r 5(2)(f)) (Sales Tax
- Fill all forms
- attach balance sheet
- submit
How to resolve error You have not provided your balance sheet u/r 5(2)(f). Please add the balance sheet or submit a request to your commissioner for approval?
If you are facing error the you should file application 14(1) (Sales Tax registration modification to add the balance sheet u/r 5(2)(f)) Sales Tax.
What are the consequences of not submitting a balance sheet?
- fines
- Suspension of their tax registration.
If you are unabel to know how to submit balance sheet in IRS.Astro Associates will help you to file sales tax retrun and accounts
182(2) (Notice to impose penalty u/s 182 for failure to furnish return u/s 114)
182(2) (Notice to impose penalty u/s 182 for failure to furnish return u/s 114)
You were liable to file Return of Income for the Tax Year 2023 for which Notice U/s 114(4) of the Income Tax
Ordinance, 2001 had already been issued and serviced but you failed to file the return of Income. You are hereby
requested to please show cause for non filing of return of Income by due date. Otherwise First Penalty U/S 182 shall be imposed for the default.
Why i received 182(2) (Notice to impose penalty u/s 182 for failure to furnish return u/s 114)?
After the due date of filing time was given to file tax retrun within notice due date but you failed to file your tax retrun so you got the notice.
What should i do if i got 182(2) (Notice to impose penalty u/s 182 for failure to furnish return u/s 114) ?
Last oppurtunity given you shuld file within show cause notice period.
Tajir Dost Scheme FBR
Tajir Dost Scheme FBR
Every traders and shopkeepers operating through a fixed place of business including a shop, store, warehouse, office or similar physical place (hereinafter referred to business premises) located within the territorial civil limits including cantonments in the cities as specified in the Schedule to this scheme for registration and payment of minimum advance tax will be applicable.
Tajir Dost Scheme FBR is not applicable on following conditions
(i) Company
(ii) Operating as a unit of national or international chain stores in more than one city or;
(iii) Person or a class of persons specifically excluded by the Board.
How to Registration in the National Business Registry Tajir Dost Scheme FBR
Every trader and shopkeeper shall apply for registration under section 181 of the Ordinance or through Tax Asaan app or on FBR’s portal or through FBR’s Tax Facilitation Centers by 30th day of April, 2024.
The provisions of section 182 of the Ordinance shall, mutatis mutandis apply to the trader or shopkeeper who has not applied for registration on companies and chain stores.
What is Minimum monthly advance tax payable by a person in Tajir Dost Scheme FBR?
Every person shall be liable to pay monthly advance tax
What is Mode and manner of payment of advance tax?
From 1 day of July, 2024 for the relevant tax year and the first payment will be due on 15th of
July, 2024 and thereafter on 15th of every month.
Payment be paid through a Separate Computerized Payment Receipt against the Payment Slip ID (PSID)
Generated by Tajir Dost module or through FBR’s portal or through FBR’s Tax Facilitation Centers
FBR Calculations of Tax Tajir Dost Scheme as per following
(a) Annual rental value means ten percent of the fair market value of the business premises;
(b) Business premises include all business places, store, warehouse, or any other Place connected to business or an office or a home operating as a business place;
(c) Indicative income means amount calculated on the basis of the annual rental Value in accordance with the formula as may be prescribed;
(d) Fair market value of business premises in Tajir Dost Scheme FBR means the amount calculated as per the valuation of immoveable properties notified by the Board under section 68 of the Income Tax Ordinance, 2001(XLIX of 2001), or where such valuation has not been notified by the Board, the values fixed by the District Officer (Revenue), or Provincial or any other authority authorized to fix such values for the purposes of stamp duty will be a.
Tax Exemption on International Call Center FBR
Tax Exemption on International Call Center FBR
If you are running a international call center business you only pay fixed final tax.A special regime u/s 154A for export of IT and IT enabled services was introduced through Finance Act, 2021 whereby 1% final tax was collected on realization of export proceeds of these services
Export proceeds of Computer software or IT services or IT Enabled services by persons registered with Pakistan Software Export Board 0.25% of proceeds
Moreover, provisions of Tenth Schedule will not apply on tax collectible under section 154A of the Ordinance. Necessary change has been incorporated in rule 10 of Tenth Schedule in this regard Tax Exemption on International Call Center FBR
Income Tax Exemption SWAT
Income Tax Exemption SWAT & Income Tax Exemption FATA & PATA
If you are a resident of Swat and you are running a business there, no income tax is applicable. However, you are required to obtain an income tax exemption certificate in Swat.
If you need income tax exemption certficate feel free to contact us
Company Registration In Islamabad
Company Registration In Islamabad
If you want to register a company in Islamabad, Astro Associates is the best tax consultants and company registration service provider
What Information & Dcouments Required for Company Registartion?
- CNIC
- E-Mail Id & Mobile
- Office Address
- Company Name
- Nature of Work
- Share Capital
- CEO & Share distribution
How Many Days Required to Reserved the name in SECP?
1 working day required for name reservation confirmation
How Many Days Required for Company Registration?
Minimum 1 and Maximum 3 working days required to compelte the Company registration process.
If we Registar a company thorugh Combine Proces?
If you register a company in SECP through combine process then it will take maximum two working days to register a company.
We are best in Company Registration In Islamabad
How to Register Subsidiary Foreign Company in Pakistan
How to Register Subsidiary Foreign Company in Pakistan?If you want to make branch office or liason office following documents and requirments
Following Document required
- Passport
- Pakistani Visa
- Current address of Directors in Pak
- Permanent Address in China
- Email Id and mobile numbers of each Directors
- company latest documents AOA,AOM,Annual renewal forms (that should be attested from Notary Public & Embassy of Pakistan)
- Board resolution for name reservation
- Authorization from company to present directors in Pakistan
Following Info Required
- Office Address in Pakistan
- Who will be the ceo
- What will be the share percentages & Minimum two directors required
- For company dedicated email Id and mobile in Pak
If you need any help How to Register Subsidiary Foreign Company in Pakistan astro associates is the best consultant to Register Subsidiary Foreign Company in Pakistan