FBR’s income tax returns filing deadline to expire tomorrow

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.

Read: FBR to amend Income Tax Rules 2002 to recover unpaid taxes

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)

Read: FBR prepares to get 137,000 unregistered Lahoris into tax circle

• Residents with foreign income amounting to USD 10,000 or over; or people in possession of foreign assets of USD 100,000 or more
• Commercial/ industrial power connection holders whose annual bill exceeds PKR 0.5 million
• Individuals who own vehicles with an engine capacity of 1,000 cc or above
• Welfare institutions/NPOs that fall under Section 2(36) of Income Tax Ordinance, 2002
• Members of the Chambers of Commerce & Industry or any trade/business association of any market/ professional committee

Read: FBR to grant more powers to officials dealing with tax defaulters

Moreover, the FBR’s Tax Asaan app allows salaried citizens to submit their returns in a convenient manner. For this purpose, users will have to:

1. Log into the mobile application
2. Fill in the required information
3. Submit their tax returns