How to Calculate Income Tax Refund? | How to claim Income Tax Refund? | How to Adjust Tax Refund?

Refund can be only claimed if the person has filed their Income Tax Return electronically. A manual Return does not entitle you to a refund.
The refund amount should be clearly reflected in your Income Tax Return in Iris. Refund resulting from the Income Tax Return can be claimed by filing a separate application in Iris. To check the status of your application, please visit your relevant Regional Tax Office (RTO). The refund can also be claimed later on after submitting your Income Tax Return, but within two years from the date of filling of return (date of assessment) or from the date on which the tax was paid, whichever is later.
As a Centralized System for online payment of Income Tax refunds have been devised, so the taxpayers are requested to update their IRIS profile. Taxpayers are advised to do needful ASAP to avail electronic transfer facility.
In the given bank account details area in the sytem, IBAN detail row is added wherein taxpayers are required to add their complete Bank's IBAN number of same bank account whose details are already available in IRIS profile to receive Income Tax refund cheques.
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[@databyte7309]

mera 60 thousand refund ban rha ha property purchase ki thi last year main ne 45 days pehle 170 refund application submit krwai thi. kiya muje easily refund mil gae ga RTO office se ya ismain chai pan lete RTO office wale ?

[@aliusmanhashmi5222]

Very informative ❤

[@atifhussain2438]

Very much informative V log, appreciated ......

[@farhanjabbar1116]

if a person do not have taxable income but purchased vehicle and nil return is filed and claim refund .claim justified ?

[@iftikharahmadnasir5706]

2. Why all tax refunds are still not adjusted in 2022 returns? Sometimes it is completely adjusted, sometimes another amount appears and sometimes it becomes ZERO.

[@taxationistcorporateconsultant]

Ty2022 refund adjusting.. in either case email to FBR.

[@AbidHussain-db4ps]

سر جو فون کا ٹیکس ہوتا ہے یہ کس کھاتے میں آئے گا

[@muhammadejaz2143]

if FBR not cooperating income tax and sales tax refund; FTO also giving order of MAL ADMINISTRATION; WHAT SHOULD DO

[@iftikharahmadnasir5706]

Nice work. So, If someone was a non-filer in 2017 and his tax on services originally was to be deducted at 10% (minimum tax). But his tax was deducted at 17.5%. So if he files a return now, can he claim this over and above 10% as refundable or it will still be the minimum? IRIS however shows both 10% and 17.5% options under different minimum tax tabs.

[@taxationistcorporateconsultant]

Minimum can't be refunded back

[@jawaharlalasnani5347]

Refundable income tax amount can be adjusted against Advance tax to be payble

[@Wbuttar]

Thanks ... Adjustable tax can be carried forward while minimum tax cannot be carried forward... Am I right sir?

[@taxationistcorporateconsultant]

100٪

[@kashifnisar3685]

AOA. Sir apne ye nahi btaya k Final Tax b current year k liye adjustable hota hai ya nahi? Plz must answer.. Thanks

[@taxationistcorporateconsultant]

Yes against the Final Income.

[@kashifnisar3685]

@@taxationistcorporateconsultant Thanks alot.

[@WaseemAhmad-vd7cw]

What is tax rate on rental income?

[@mshahzad6002]

how many years of refund will be valid to claim or adjust i.e. to file 2022 tax return today

[@iqbalsajid3290]

Excellent vlog

[@taxationistcorporateconsultant]

Thanks.

[@NazarFaridRana-ds4rb]

Housewife having no income or less than taxable slab pay tax profit on debt on bank deposit or prize money which is under final tax tab. Why not she claim refund as her income is not taxable.

[@TheUmaiz]

Please guide, If we are under FTR, Why we paid Advance Tax? year end pr refund Q claim krn gae? agr FTR mae annual return file kr rahe hen tou? we are export of services and already paid 0.25% Tax on Remittance. But Supplier (internet services) providers also deduct Advance TAX 15% on invoice 16,500. Is that deduction is valid?

[@taxationistcorporateconsultant]

Actually goverment is charging withholding tax on consumption and its liability on the internet provider to collect from the customers.

[@amanalam7866]

Why you removed your jewelry video,????

[@haroonansari1235]

Bank deducted 30% tax on profit on debt due to exclusion of my name in ATL list or late payment of ATL Surcharge. Is this excess tax refundable. Can I carry this excess tax for tax liability of forwarding years. Kindly advise.

[@khuzaimaiftikhar4708]

For example withholding tax income tax 153 rules per deduct howa but 400000 extra withholding ma hi deduct hogaya to kya ye refund nai hosakta ?

[@qazifahad7744]

Sir I've paid advance tax Rs 50000 on purchase of new vehicle ...and I ve salaried income and my annual salary tax is around 20000 annual...In 2022 bcoz of vehicle adv tax refund has been created..now for 2023 can I go to my employer and ask him to adjust my excess advance tax of last year from tax payable on salary from this year ..plz tell

[@taxationistcorporateconsultant]

Ni apply to FBR, and take Approval order from there than employer shall cooperate

[@muhammadmudassar5553]

Sir property purchased ki hai. Jis per 7 % tax pay kiya ha. Kiya wo tax adjustable/refund ha.

[@waqastariq5941]

refundable tax kitnay year tak adjust ker saktey hain?

[@taxationistcorporateconsultant]

as law direction 3 Years, but as courts judgements no limits.

[@arifakhan8941]

Adjustment of Minimum Tax Paid u/s 113 in earlier Year(s) sir tu ise section ma kon tax adjust hoga agar 1 year ma mari liability 100,000/- banti or mara tax minium ma 150,000 deduct howa hai tu jo section uper lekha hai maney wahey par adjust krey gya na (Adjustment of Minimum Tax Paid u/s 113 in earlier Year(s) is ko be explain kr de Thanks

[@taxationistcorporateconsultant]

Video is already on the Channel..

[@arifakhan8941]

@@taxationistcorporateconsultant link de gay ya lecture ka name bta de kise name hai check kiya hai maney par muje nai mila

[@sherzamankhan366]

Very informative (Y)

[@taxationistcorporateconsultant]

Thanks.

[@amanalam7866]

Why

[@amanalam7866]

Why you removed your jewelry video,????

[@amanalam7866]

Why

[@amanalam7866]

Why you removed your jewelry video,????

[@amanalam7866]

Why you removed your jewelry video,????

[@amanalam7866]

Why you removed your jewelry video,????

[@taxationistcorporateconsultant]

There was few mistakes, hopefully amended video shall be shared in couple of days. Soon. IA.

[@amanalam7866]

Why

[@amanalam7866]

Why