Last date for return filing will not be extended: FBR

Last date for return filing will not be extended: FBR

ISLAMABAD: Federal Board of Revenue (FBR) on Monday said it will not extend the last date for filing income tax returns beyond September 30, 2022.

The FBR sent SMS to taxpayers advising them to file their return of income for the tax year 2022 at the earliest. “The last date to file return is September 30, 2022, which will not be extended,” it added.

READ MORE: Last date for filing tax return is September 30, FBR reminds

The revenue body recently launched a campaign to motivate people for filing income tax returns. The FBR said: “Like every year before, the FBR launched a comprehensive awareness campaign to maximize its outreach through electronic and print media, urging taxpayers both existing and new, to file Income Tax Returns on time. The last date to file returns is September 30, 2022.”

The FBR issued an alert about the last date stating that last date to file income tax returns will not be extended. “Last date to file income tax returns for individuals and association of persons (AOPs) is September 30, 2022,” the FBR added.

READ MORE: Disclosure of beneficial ownership made mandatory for companies

The revenue body said that income tax returns can be filed through: Tax Asaan APP and FBR website.

It further stated that tax payment is possible through: internet and mobile banking; credit card and ATMs; cash and bank account.

The FBR further urged the taxpayers to file tax returns and avail exemption from 100 per cent increased withholding tax rates.

The tax body highlighted mandatory income tax return filing for persons and corporate entities.

The FBR said that all resident persons registered with professional bodies, i.e. chamber of commerce, Pakistan Bar Council or Market Committee etc. are required to file income tax returns.

READ MORE: KTBA highlights pharmaceutical industry’s reporting issues

Association of persons and Individuals having more than Rs400,000 annual business income are also required to file their return of income on annual basis.

“The income tax return filing is must for salaried persons if annual income exceeds Rs600,000,” the FBR added.

The revenue body said that the income tax return filing for tax year 2022 is also mandatory for persons who were charged to income tax in tax years 2020 and Tax Tear 2021.

Furthermore following persons are required to file income tax return:

— Persons having National Tax Number (NTN)

— Persons who own a motor vehicle having engine capacity more than 1,000CC

— Persons who own 500 sq. yards or more property / flat in urban areas.

READ MORE: FBR directs speedy clearance of flood relief goods

— Owners of flat with 2,000 sq. feed covered area of 500 sq. yards or more land in FBR rating area.

— All Non for Profit Organizations (NPOs) or welfare organizations that fall under Income Tax Ordinance, 2001.

— Commercial and Industrial consumers paying more than Rs500,000 electricity bill annually.

— Resident persons required to file foreign income and assets statement.

Leave a Reply

You have to agree to the comment policy.