Islamabad: The eighth extension in the Federal Board of Revenue (FBR)’s deadline for filing income tax returns for Tax Year (TY) 2019 is set to expire tomorrow (February 28), a news source reported. To this effect, the taxation agency has asked citizens who earn PKR 400,000 or more on an annual basis to file their returns.
According to FBR, these returns can be filed through the authority’s
Tax Asaan App, or through online/mobile banking, digital currency and Automated
Teller Machines (ATMs).
Who is required
to submit income tax returns?
As per the going eligibility criteria communicated by the
federal institution, the following individuals are required to file their
income tax returns:
All registered taxpayers having National Tax Numbers (NTN)
Any individual asked to pay tax in the last two years
Salaried persons, businessmen or other with an annual income amounting to PKR 400,000 or more
All companies whose tax period ranges between July 1 and December 31
Landowners with properties covering 500 sq yds or more; or those with flats covering 2,000 sq ft or above (in the urban area)
Landowners with properties covering 500 sq yds or more; or those with flats (located within municipal limits, cantonment or ICT)
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.
