Federal Revenue Board (FBR) warned individuals with taxable income that they could file annual returns for 2019, or that tax authorities will launch a lawsuit.
The FBR has released an appeal to people with taxable income who have not been able to submit annual returns for the 2019 fiscal year.
The FBR says that it is January 31, 2020 that will be the last day to file tax returns. It said that for all people with an annual income of Rs400,000 or more the filing of an income tax return is compulsory
The tax authorities cautioned that the FBR would assess the appropriate tax without notice, should the individual / company fail to file its report by due date.
This pointed out the difficulty of not filing or remitting returns at a late date because these people would not be included in the Active Taxpayers List.
The FBR explain the procedure to file income tax returns. It said that an individual should login to IRIS with username and password; click on declaration tab after login; select tax year; select the form for relevant category; click on verification after entering details such as salary slip, bank statement, utility bill, tax statement, expenditure and assets etc.
