In order to ensure transparency and least human interaction of FBR’s employees with the taxpayers, it has been decided to stop the practice of issuance of refund cheques forthwith and directly credit the amount cheques of income tax refunds into the bank accounts of the taxpayers.
Preliminary the refund amount was paid through a cheque from the RTO office, due to involvement of the employees of FBR ,corruption was frequently reported,to cap the corruption related issues, Federal board of Revenue launched the direct deposit system.
For this purpose, IBAN bank Accounts of the taxpayers are needed to be updated in their IRIS profiles. FBR has enabled the IRIS profile for all taxpayers and therefore, you are requested to update IRIS profile with your IBAN Bank Account Number details.
For your convenience, Bank Account updation has been made available on Iris main dashboard. Following are steps:
Step-1
Login to IRIS
Step-2
From Iris main dashboard click on "My Profile", System will display profile interface and will also load your data automatically for individual taxpayers. For intermediaries, provide respective taxpayer's registration no in search box and click search icon. System will load taxpayer registration information.
Step-3
Click on "Bank Accounts" tab where system will display taxpayer's existing accounts information (if any). Click on "+" icon to add new or "Edit" icon to modify your existing information.
Step-4
In case of multiple bank accounts, make sure to select primary Bank Account. In case of multiple accounts linked with your profile, preference will be given to primary account.
After submitting bank IBAN details ,board will deposit the amount directly into your bank account, filers dont need to visit the RTO office's
Please comment about this great initiative of Federal board of Revenue
