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: