Islamabad: The Federal Board of Revenue (FBR) has issued a reminder for all taxpayers to file their income tax returns by December 8; further stating that the communicated deadline will not be extended, according to a news report published on November 18.
The official statement released by FBR refers to Section 114 of Income Tax Ordinance 2001 – under which all people with houses built on over 500 square yards of land or with vehicles of 1,000CC or above are liable to file their income tax returns.
Moreover, commercial electricity connection owners whose annual bill exceeds PKR 500,000 or people whose annual income exceeds PKR 300,000 are also obligated to file their income tax returns. For salaried people with income over PKR 600,000, filing tax returns is mandatory.
Furthermore, the board has warned of strict legal action against people who fail to file their taxes on time.
Hazafa reveres the art of writing and has been turned into a property enthusiast by profession. Her daily survival kit includes; tea, coffee, keyboard and paperbacks.
