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1.7 million income tax returns received by FBR
ISLAMABAD: Without extending the deadline for filing of income tax returns, the Federal Board of Revenue (FBR) has so far received over 1.7 million income tax returns along with Rs19.5 billion tax till December 8, 2020 night.
It indicates that less than one percent population has so far filed their income tax returns out of the total 206 million population of the country. The second wave of COVID-19 pandemic also created difficulties in filing of income tax returns.
Out of the total 6.4 million National Tax Number (NTN) holders, only 1.7 million so far filed returns, so the remaining 4.7 million did not bother to come into the tax net. Now the FBR plans to take strict action against those who possessed NTN but did not bother to file their returns for the last three consecutive years.
However, the FBR has decided to grant an extension to those individuals who will seek extension through online or manual applications. “We have received 112,000 online requests for granting extensions along with reasons and the concerned chief commissioners will generously allow required extension keeping in view Covid-19 pandemic,” said the top official. The FBR has issued instructions to all the chief commissioners to grant extension if someone had filed online or manual applications.
The FBR spokesman made it clear that there would be no further extension for filing of income tax returns. The FBR termed a letter circulated on social media as fake that was related to granting extension till January 31, 2021. The FBR stated that it was a fake letter and the Board did not grant any extension. The FBR had received a total 2.7 million income tax returns in the last fiscal year ended on June 30, 2020. For the current fiscal year, the FBR has so far received over 1.7 million returns and it was expecting over one million returns would be filed through individual requests.
www.thenews.com.pk
ISLAMABAD: Without extending the deadline for filing of income tax returns, the Federal Board of Revenue (FBR) has so far received over 1.7 million income tax returns along with Rs19.5 billion tax till December 8, 2020 night.
It indicates that less than one percent population has so far filed their income tax returns out of the total 206 million population of the country. The second wave of COVID-19 pandemic also created difficulties in filing of income tax returns.
Out of the total 6.4 million National Tax Number (NTN) holders, only 1.7 million so far filed returns, so the remaining 4.7 million did not bother to come into the tax net. Now the FBR plans to take strict action against those who possessed NTN but did not bother to file their returns for the last three consecutive years.
However, the FBR has decided to grant an extension to those individuals who will seek extension through online or manual applications. “We have received 112,000 online requests for granting extensions along with reasons and the concerned chief commissioners will generously allow required extension keeping in view Covid-19 pandemic,” said the top official. The FBR has issued instructions to all the chief commissioners to grant extension if someone had filed online or manual applications.
The FBR spokesman made it clear that there would be no further extension for filing of income tax returns. The FBR termed a letter circulated on social media as fake that was related to granting extension till January 31, 2021. The FBR stated that it was a fake letter and the Board did not grant any extension. The FBR had received a total 2.7 million income tax returns in the last fiscal year ended on June 30, 2020. For the current fiscal year, the FBR has so far received over 1.7 million returns and it was expecting over one million returns would be filed through individual requests.
1.7 million IT returns received by FBR
ISLAMABAD: Without extending the deadline for filing of income tax returns, the Federal Board of Revenue has so far received over 1.7 million income tax returns along with Rs19.5 billion tax till...
www.thenews.com.pk
