Income tax return filing touches new peak at 3.03 million

Income tax return filing touches new peak at 3.03 million

ISLAMABAD: Income tax return filing hit record high at 3.03 million for tax year 2019, according to weekly Active Taxpayers List (ATL) updated on Monday.

The FBR issued the weekly ATL – 2019 updated on the basis of returns filed up to January 10, 2021.

The ATL-2019 will remain applicable till February 28, 2021 as the FBR will issue new ATL for tax year 2020 on March 01, 2021.

The return filers including salaried persons, business individuals, Association of Persons (AOPs) and companies can check their names on the ATL by visiting How to check ATL status?

The filing of income tax return is mandatory for persons driving taxable income or specified under Section 114 of Income Tax Ordinance, 2001.

The appearance of names on the ATL is only possible after filing income tax returns within due date. In case persons are not on the ATL then the rate of withholding tax shall be increased by 100 percent on various transactions.

Persons fail to file their returns by due date but file after the date will also not qualify to enlist their name on the ATL until fine is not paid to the Federal Board of Revenue (FBR).

A taxpayer should check his/her status on the ATL before making transactions in order to avail reduced rate of tax rates.