ISLAMABAD: Federal Board of Revenue (FBR) on Monday extended the date for filing income tax return and wealth statement for tax year 2018 up to August 2, 2019 for taxpayers, who own immovable properties and motor vehicles.
The FBR issued Income Tax Circular No. 06 dated July 01, 2019 for extension in date of filing of income tax returns/ statements for tax year 2018.
The FBR said that following persons are required to furnish a return of income for tax year in terms of Section 114(1)(b)(iii) to (vi) of the Income Tax Ordinance, 2001:
(iii) Owns immovable properties with land area of two hundred and fifty square yards or more or owns any flat located in areas falling within the municipal limits existing immediately before the commencement of Local Government in the provinces; or areas in a Cantonment; or the Islamabad Capital Territory.
(iv) Owns immovable property with a land area of five hundred square yards or more located in a rating area;
(v) Owns a flat having covered area of two thousand square feet or more located in a rating area;
(vi) Owns a motor vehicle having engine capacity above 1000CC;
The FBR said that it is observed that some taxpayers falling under above conditions have not filed their income tax return/statement for the tax year 2018. “In order to facilitate the taxpayers falling under the above categories , they are hereby given an opportunity to file their income tax return/ statements.”
The FBR further said that in order to facilitate it has been decided to extend the date of filing of income tax return/statements for the tax year 2018 up to August 02, 2019 for taxpayers of above mentioned categories.