Taxpayers can enjoy a unique facility of obtaining exemption certificates or paying tax on the transfer of immovable properties under section 7E of the Income Tax Ordinance, 2001 through an online system launched on Friday.

The new online system under “IRIS” has been launched by the Federal Board of Revenue (FBR) from September 1, 2023.

Taxpayers can now conduct transactions of section 7E without going to the Commissioners Inland Revenue.

The special dedicated payment challan for non-filers has also been launched under the new automated system.

The FBR has introduced an online facility for all citizens in the “IRIS” updated system to grant exemption or pay one percent tax under section 7E on immovable properties without going to Commissioner Inland Revenue (FBR).

Source: ProPakistani