ISLAMABAD: 2.45 million has been collected by the Federal Board of Revenue as income tax returns during the tax year 2019 till the evening of 28 February 2020, which is the closing day if you want to file tax returns.
An announcement issued on Friday, the Federal Board of Revenue stated that the closing day for filing income tax returns would not be increased additional. The latest active taxpayer's list (ATL) for the tax return year 2019 will be renewed by midnight on February 29, 2020. The Federal Board of Revenue announced that those people who were on the active taxpayer's list-2018 still not filed tax returns for the tax year 2019 would not make it their names on the new active taxpayer's list.
The Federal Board of Revenue stated that it had gained 2.45 million income tax returns for the tax year 2019, which was 45 percent higher when you compare with 1.68 million on the exact day in the last year. The Federal Board of Revenue said that approximately 2.34 million people including salaried persons as well as business filed their tax returnss for the tax year 2019. Association of Persons (AOPs) filed 62,403 returns also companies filed 40,988 returns. Have you filed your returns for the tax year? If not, then you still have the chance, but this time you’ll have to pay the penalties. Being a filer has many advantages, if you are not the one, you’re missing out on a lot of benefits.
The income tax filers are required to pay half of the withholding tasks, which the non-filers have to pay. Regular income tax filers can also purchase any property, a non-filer can not. There are many more advantages of filing income tax returns.