Islamabad: The Federal Board of Revenue (FBR) on Monday extended the deadline pertaining to the submissions of income tax returns and wealth statements for the (fiscal year) FY2018-19 by one month, a news source reported.
According to a notification, the federal institution has urged the taxpayers concerned to file their income tax returns, along with their wealth statements, by August 2, 2019.
Individuals who own immovable property (with a specified land area), or vehicles (with an engine capacity in excess of 1,000cc) will have to file their income tax returns as per the rules communicated under the Income Tax Ordinance, 2001.
As per reports, the federal institution has provided this extension in its bid to facilitate the people who have yet to file their tax returns.
Previously, the government had announced a three-day extension in its Assets Declaration Scheme; an initiative which aims to regulate the economy by allowing individuals to declare their undisclosed assets and accounts.
