FBR Clarifies Cash Deposits as 1st Valid Payments Under Tax Law
FBR Clarifies Cash Deposits The Federal Board of Revenue (FBR) has officially clarified that cash deposits made directly by buyers into a seller’s bank account will be considered valid payments under the Income Tax Ordinance, 2001.1 This clarification refers to a newly added clause (s) in Section 21 of the Ordinance, which previously raised concerns…