Taxpayers to Get Profile Update Format at IRIS Portal

FBR issued SRO 1341(I)/2020 dated December 16, 2020 to issue draft amendment to Income Tax Rules, 2002. A new rule 34B has been proposed for taxpayer’s profile. FBR stated that this rule shall apply for the purpose of section 114A of the Income Tax Ordinance, 2001, which provides updation of a taxpayers profile.

A taxpayer’s profile shall be filed electronically on the prescribed format and manner as provided on IRIS web portal. The taxpayers profile shall be verified in the manner specified on IRIS web portal. Through Finance Act, 2020 a new section 114A was inserted to Income Tax Ordinance, 2001 for making it mandatory for taxpayers to update their profile.