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FBR Issues Single Page Return form for Shopkeepers, Traders

FBR

Federal Board of Revenue (FBR) on Thursday issued final draft of single-page income tax return for shopkeepers /small traders having annual turnover less than Rs10 million.

The FBR issued SRO 885(I)/2020 to notify the final draft. Previously, the FBR on September 08, 2020 issued draft return form for shopkeepers/traders through SRO 821(I)/2020 to invite comments.

In the single return form, the traders are required to provide following details:

The traders will also require to submit simple wealth statement form. In this form the traders shall provide following details:

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