No Extra-Time in Recording date of Income Tax returns: FBR

ISLAMABAD: The Federal Board of Revenue (FBR) on Tuesday clarified that it isn’t considering about an extension in the date for recording yearly personal assessment forms.

As per a statement by the FBR spokesperson, citizens ought to submit yearly expense forms before September 30.

Responding to news with respect to an alleged extension in the date, the categorically completely denied this was the situation, expressing that no proposition in such manner has been considered at the FBR headquarters.

In an informal conversation with columnists, FBR representative Asad Tahir said: “So far, 0.8 million people have filed their returns.”

He added that no strict move will be made against merchants however said that following 15 days, show-cause notification will be given to brokers who are not associated with Point of Sales (POS).

“Failure to install POS will result in a fine worth Rs500,000 after 15 days,” the representative said, adding that if brokers apply POS in 15 days, the fine will be deferred off.

Tahir further added that inability to introduce POS following a month will bring about a fine worth Rs3 million. “In the interim, shutting down organizations will be the final hotel,” he added.

Earlier, the FBR prompted all citizens needed to document assessment forms by September 30, 2021, to satisfy their legitimate commitment without trusting that the last date will keep away from framework defers which happen when countless citizens sign in for accommodation of profits close to the cutoff time.

FBR had clarified at the time that there will be no augmentation in the due date for documenting annual government forms.

Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No The Money Fly journalist was involved in the writing and production of this article.

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