KARACHI: Federal Board of Revenue (FBR) on Thursday urged individuals/companies to file their annual returns by due date in order to get their names into Active Taxpayers List (ATL).
According to recent changes to Income Tax Ordinance, 2001 only return filers by due date are eligible to get their names into the ATL. The last date for filing income tax returns for tax year 2019 is September 30, 2019 for all taxpayers, other than companies having financial year between July to June.
The FBR said that the following are liable to submit income tax return:
— All registered taxpayers having National Tax Number (NTN).
— Anyone charged to tax in the last two years.
— Persons (salaried, businessmen and others) with annual income of Rs400,000 or more.
— All companies (whose tax period ends between July 1 to December 31).
— Owners of Land (500 square yards or more) or flat within municipal limits, cantonment or Islamabad Capital Territory.
— Owners of Land (500 square yard or more) or flat (with covered area of 2000 square feet or more) in urban area.
— Commercial or industrial electricity connection holders with annual bill over Rs0.5 million.
— Owners of vehicles (1,000CC and above)
— Welfare institutions or Non-Profit Organizations (NPOs) defined in Section 2(36) of Income Tax Ordinance, 2001.
— Members of Chambers of Commerce and Industry or any trade or business association of any market committee or any professional body.
–Resident individuals with foreign income of US $ 10,000 or more/having foreign assets of US$100,000 ore more.
The FBR said that in order to facilitate salaried persons it had already launched a mobile phone application. The salaried persons can file their returns through mobile application in few easy steps.