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Contact information, map and directions, contact form, opening hours, services, ratings, photos, videos and announcements from Xact Legal, Tax preparation service, Plot No. 384-E, Johar Town, Lahore.

Xact Legal delivers audit, taxation, M&A, advisory, legal, and affiliated services to ensure compliance, reduce risk, support growth, and enable better financial control and faster decision-making for businesses.

27/10/2026

🔔Update: FBR Tax Return Penalties for Banks and Companies in Pakistan – Tax Year 2027

Under Pakistan’s Income Tax Ordinance, 2001, taxpayers must provide complete, accurate, and relevant information in their prescribed income tax returns and supporting documents.

Read article: https://xactlegal.com/blogs/fbr-tax-return-penalties-for-banks-and-companies-in-pakistan-tax-year-2027/

27/10/2026

🔔Update: FBR Tax Compliance Penalties for Tax Year 2027 in Pakistan

These provisions highlight the importance of timely tax return filing, accurate reporting, and compliance with FBR notices and other statutory requirements.

Read article: https://xactlegal.com/blogs/fbr-tax-compliance-penalties-for-tax-year-2027-in-pakistan/

27/10/2026

🔔Update: FBR Active Taxpayers List (ATL) 2026: Rules and Surcharges in Pakistan

For Tax Year 2026, the income tax return filing deadline has been extended to October 31, 2026. Taxpayers who miss the applicable deadline may face an additional surcharge to obtain ATL status.

Read article: https://xactlegal.com/blogs/fbr-active-taxpayers-list-atl-2026-rules-and-surcharges-in-pakistan/

27/10/2026

🔔Update: FBR Withholding Tax Penalties for Tax Year 2027 in Pakistan

Tax Year 2027 runs from July 1, 2026, to June 30, 2027. Understanding the applicable rules can help employers, companies, and withholding agents maintain compliance and avoid unnecessary costs.

Read article: https://xactlegal.com/blogs/fbr-withholding-tax-penalties-for-tax-year-2027-in-pakistan/

26/10/2026

For Tax Year 2027, understanding FBR’s late-filing penalties, wealth statement requirements, and available penalty reductions can help you stay compliant and avoid unnecessary costs.

✅ File your tax return on time
✅ Keep your financial records accurate
✅ Understand your tax obligations
✅ Seek professional guidance when needed

Need help with tax return filing in Pakistan? Xact Legal provides professional tax and advisory support to help individuals and businesses navigate their tax obligations.

📩 Contact Xact Legal for assistance with tax compliance. Read more and consult now at https://xactlegal.com/

26/10/2026

⚖️ Late Form 5 Filing Does Not Automatically Mean a Penalty!

The Lahore High Court (Multan Bench) has set aside SECP penalties imposed on directors of Reliance Weaving Mills Limited for delayed Form 5 filings.
Why did the Court intervene?

✔️ Forms were filed voluntarily before any show-cause notice.
✔️ No concealment or misrepresentation was recorded.
✔️ There was no change in shareholding, control, or position.
✔️ The Court applied the Doctrine of Substantial Compliance and found the penalties disproportionate.

📌 Key takeaway for listed companies: The 7-day Form 5 filing requirement remains in place. File on time, maintain accurate disclosures, and address any delay promptly.

Xact Legal - Audit | Tax | Advisory

📞 +92 300 8433 880
🌐 www.xactlegal.com

22/10/2026

🔔Update: Withholding Tax Certificate in Pakistan for Tax Year 2027: FBR Rules, Requirements and Filing Guide

Withholding tax certificates are important documents for individuals and businesses in Pakistan that have tax deducted or collected from their payments. These certificates provide evidence of tax paid to FBR and help taxpayers maintain accurate records when preparing their income tax returns.

Read article: https://xactlegal.com/blogs/withholding-tax-certificate-in-pakistan-for-tax-year-2027-fbr-rules-requirements-and-filing-guide/

22/10/2026

🔔Update: FBR Section 162: Recovery of Tax for Tax Year 2027 in Pakistan

FBR can recover tax directly from a taxpayer or payment recipient when the required tax was not collected or deducted at source. This authority is provided under Section 162 of Pakistan’s Income Tax Ordinance, 2001.

Read article: https://xactlegal.com/blogs/fbr-section-162-recovery-of-tax-for-tax-year-2027-in-pakistan/

22/10/2026

🔔Update: FBR Section 161: Tax Recovery Rules for Tax Year 2027 in Pakistan

For Tax Year 2027, understanding Section 161 is important for businesses and other persons responsible for withholding tax. Non-compliance can lead to recovery proceedings and additional financial liabilities, even where the original transaction was completed.

Read article: https://xactlegal.com/blogs/fbr-section-161-tax-recovery-rules-for-tax-year-2027-in-pakistan/

22/10/2026

🔔Update: FBR Section 168 Tax Credit Rules for Tax Year 2027 in Pakistan

FBR has outlined the rules governing tax credits for amounts collected or deducted at source under Section 168 of the Income Tax Ordinance, 2001. These provisions help taxpayers determine how eligible withholding tax and advance tax collections can be adjusted against their income tax liability for Tax Year 2027.

Read article: https://xactlegal.com/blogs/fbr-section-168-tax-credit-rules-for-tax-year-2027-in-pakistan/

Address

Plot No. 384-E, Johar Town
Lahore
54786

Website

http://www.xactlegal.com/, https://www.linkedin.com/company/xact-legal, https://www.instagram.com/xactlegal/, https://ww

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