FBR receives 2.63 million income tax returns for tax year 2020

FBR receives 2.63 million income tax returns for tax year 2020

ISLAMABAD: Federal Board of Revenue (FBR) has received 2.63 million income tax returns for tax year 2020 by February 28, 2021, just one day ahead of issuing new Active Taxpayers List (ATL).

According to a statement issued on Sunday the FBR said that it had received 2.63 million income tax returns for tax year 2020 by February 28, 2021, which is 8 percent higher when compared with 2.43 million returns for tax year 2019 on the same date a year ago.

The FBR said that the tax return with return, however, increased by 60 percent to Rs49.6 billion up to February 28, 2021 as compared with Rs31 billion by the same date of the last year.

The FBR said that the income tax return for tax year 2020 had been increased despite the last date was not extended beyond December 08, 2020. Meanwhile the last date for filing income tax returns for tax year 2019 was extended up to February 25, 2020.

The FBR is scheduled to announce Active Taxpayers List (ATL) for tax year 2020 on March 01, 2021 which will carry the name of those taxpayers who filed their returns by due date or extended by commissioner inland revenue.

However, those late return filer will get also their names on the list who paid surcharge.

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