Seminar On “Taxation And E-Filling Of The Income Tax” Held At HCSTSI Secretariat

HYDERABAD, (UrduPoint / Pakistan Point News - 12th May, 2024) Advocate Zain Ul Abdin Sahito has urged the entrepreneurs to embrace the vital skill of tax compliance and streamlined e-filing methods because in today’s ever-evolving world, it is crucial for business owners to grasp the importance of giving back to society through their hard-earned income.

This not only familiarizes them with the nuances of tax regulations but also empower them to confidently handle any queries from the Federal board of Revenue (FBR).

In a gathering teeming with distinguished businessmen here Sunday, Advocate Zain ul Abdin Sahito illuminated the crucial theme of "Taxation and E-Filing of Income Tax," a collaborative effort with the Hyderabad Chamber of Small Traders and Small Industry (HCSTSI), alongside SMEDA Hyderabad. With warmth and earnestness, he emphasized the essence of grasping the fundamentals of these procedures before embarking on the path of income tax registration and filing.

Fostering a spirit of self-reliance, he unveiled the accessible portal www.iris.fbr.gov.pk, empowering individuals with personalized tools to navigate the maze of income tax filing with ease and confidence.

During the seminar, he shared essential insights on income tax, addressing topics such as updating personal information, filing procedures, various tax forms, refunds & returns policies, and the importance of maintaining accurate records and confidentiality. He also delved into the intricacies of valuing movable property and other pertinent subjects.

Dr. Muhammad Ismail Farouk Nami, Senior Vice President of the Hyderabad Chamber of Small Traders & Small Industry, expressed appreciation for the collaborative efforts of the SMEDA Hyderabad team in organizing seminars aimed at empowering Hyderabad's business community.

He pointed out the essential role of taxes as the lifeblood of any state, providing the necessary financial resources to sustain governmental operations on a daily basis.

He advocated for simplifying the tax payment process and conducting seminars to enlighten traders about the benefits of tax compliance, aiming to alleviate their apprehensions towards taxation.

He commended the dedicated efforts of Doulat Ram Lohana, Former President and Convener of the SMEDA sub-committee of HCSTSI, alongside Ehsan Ali Abro, the Regional Business Coordinator of SMEDA, for their pivotal roles in organizing the seminar.

Subsequently, Former Presidents Doulat Ram Lohana and Muhammad Akram Ansari, along with executive committee members such as Sikandar Ali Rajput, Waseem Ahmed Qureshi, Kishor Kumar Bhatia and Shaikh Shaukat Ali, actively engaged with Advocate Zain ul Abdin Sahito in a thought-provoking discussion on taxation matters.

The seminar was further enriched by the presence and participation of sub-committee conveners, as well as members of the general body from the HCSTSI.