Islamabad: The Federal Board of Revenue (FBR) has made available the income tax returns form for the fiscal year (FY 2020-21) and announced the deadline of September 30 for filing the returns, news sources reported.
Read:FBR surpass revised tax collection targets in FY 2020-21 As per the details, the tax authorities have created three distinct tax forms for salaried employees, business owners, and individuals’ associates that can be filed by visiting the FBR’s official website or by utilising the Tax Asaan app. The authority has also stated that media campaigns to bring more individuals into the tax net will be launched soon. Moreover, the board, in another development, has broadened the definition of a Pakistani resident and declared that any individual must be in Pakistan for a total of 183 days or more in a tax year, to be called a resident.
Read: Extension in amnesty scheme for construction sector unlikely: FBR The definition differs from the former policy, which defined a person as a citizen responsible for paying taxes if he/she had lived in the country for at least 120 days, or 365 days in the preceding four years cumulatively. However, the new definition adopted in the Finance Act 2021 has omitted the cumulative 365-day criterion, and the current tax year condition of a 183-day stay is now applied.
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