FBR demonstrates property, business capital features in tax return system to Karachi tax bar

Profit reported that the FBR's domain team gave the Karachi Tax Bar Association a live walkthrough of its income tax return platform. Features shown included recording investments in immovable property, entering several business capital holdings, filing tax declarations under relevant provisions and registering inherited property. The session took place online with KTBA leadership and members, as part of the board's continuing consultation with tax practitioners. According to the FBR, the system runs without technical bugs or major flaws, and most participant questions were resolved through demonstrations.

KTBA President Mehmood Bikiya welcomed the board's response to the association's concerns, while Vice President Saud ul Hasan praised direct engagement with the business community. The association put forward suggestions for future return versions, such as Excel uploads to ease data entry, dropping the need to report financial data in the next year's return, and a system-generated PDF on residence status rules. Vehicle chassis numbers were confirmed as optional fields.

KTBA also flagged refund application timing, deemed assessment orders and return revisions. The FBR team said these issues already fall within existing policy, such as the 15-day deemed assessment rule, and referred them to the Policy Wing. The board plans to keep consulting tax practitioners and business representatives to make filing simpler and more transparent.