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In the United States, an income tax audit is the examination of a business or individual tax return by the Internal Revenue Service (IRS) or state tax authority. The IRS and various state revenue departments use the terms audit, examination, review, and notice to describe various aspects of enforcement and administration of the tax laws. [1]
The period from July 1 to June 30 is considered as a normal tax year for Pakistan tax law purposes. Income Tax: This tax is levied on the income of individuals, associations of persons (AOPs), and corporations. For instance, individuals earning less than PKR 600,000 annually are exempt from income tax, while those with annual earnings exceeding ...
The Federal Board of Revenue (FBR) (Urdu: وفاقی بورڈ محصولات), formerly known as Central Board of Revenue (CBR), is a federal law enforcement agency of Pakistan that investigates tax crimes, suspicious accumulation of wealth, money-laundering make regulation of collection of tax. FBR operates through Inspectors-IR that keep tax ...
The IRS will usually send a letter stating the mistake and the amount you owe or if it’s a return, a refund check. This is something that its computer system can figure out on its own.
An Introduction to Pakistan Studies, (a popular text-book which is compulsory reading for first and second year college students studying for an Fine Arts (FA) degree in history), claims that Pakistan is an Islamic State, governed by Allah & is not a mere geographical entity but more of an ideology reflecting a unique civilization and or ...
Not long after, the bureau was renamed the Internal Revenue Service. [23] In 1954 the filing deadline was moved from March 15 to April 15. The Tax Reform Act of 1969 created the Alternative Minimum Tax. In 1969, Richard Nixon directed the IRS to audit his political opponents, as well as opponents of US involvement in the Vietnam War. The IRS's ...
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The language of instruction depends on the nature of the institution itself, whether it is an English-medium school or an Urdu-medium school. The City School in Karachi. As of 2009, Pakistan faces a net primary school attendance rate for both sexes of 66%, a figure below estimated world average of 90 per cent. [16]