FBR issues draft return forms for tax year 2022

FBR issues draft return forms for tax year 2022

ISLAMABAD: The Federal Board of Revenue (FBR) on Tuesday issued draft income tax return forms for tax year 2022.

The FBR issued SRO 820(I)/2022 to notify the draft income tax return forms. The forms included: electronic return for salaried individuals; electronic return for Association of Person (AOPs); electronic return for business individuals; and electronic return form for companies.

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The revenue body advised stakeholders to provide objections or suggestions to the draft return forms within seven days of publication of the draft form. “Objection or suggestions which may be received from any person in respect of the said draft, before the expiry of the aforesaid period, shall be taken into consideration by the FBR,” it added.

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The FBR may issue the finalized income tax return forms after the expiry of the stipulated time for draft return forms. The formal income tax return filing for tax year 2022 may be started from July 01, 2022.

The last date for filing income tax return tax year 2022 is September 30, 2022. All the taxpayers including salaried persons, business individuals, AOPs and companies having special tax year are required to file their annual income tax returns by September 30, 2022.

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However, corporate entities having their accounting year July to June will be required to file annual returns for income by December 30, 2022.