FBR reiterates not to extend date for filing income tax returns

FBR reiterates not to extend date for filing income tax returns

ISLAMABAD: Federal Board of Revenue (FBR) on Tuesday reiterated that it will not further extend the date for filing income tax return beyond December 08, 2020.

The last date for filing of income tax return for tax year 2020 was September 30, 2020. The FBR through a circular extended the date up to December 08, 2020. The FBR also made it clear through the circular the date would not further extend beyond December 08, 2020.

A spokesman of the FBR explained that all those individuals having 500 square yards or above or own vehicle with engine capacity of 1000 CC or above are required to file their annual income tax return under Section 114 of Income Tax Ordinance, 2001.

The spokesman further said that those individuals who have commercial or industrial electricity connection and their annual electricity bill is above Rs500,000 are required to file return of income.

Further, those persons having annual business income above Rs300,000 are also required to file their income tax return.

For salaried persons having Rs600,000 annual income are required to file income tax returns.

FBR warned of taking penal action against persons on non-compliance.

Leave a Reply

You have to agree to the comment policy.