Friday, February 28, 2020  | 3 Rajab, 1441
Samaa TV
Facebook Twitter Youtube
HOME > Economy

FBR extends deadline to file income tax returns

SAMAA | - Posted: Jan 31, 2020 | Last Updated: 4 weeks ago
SAMAA |
Posted: Jan 31, 2020 | Last Updated: 4 weeks ago
FBR extends deadline to file income tax returns

Photo: Samaa Digital

The Federal Board of Revenue has extended the deadline to file income tax returns for Tax Year 2018-2019, it said Friday.

People can now file their income tax returns/wealth statements until February 28, 2020.

The extension comes as part of the government’s efforts to bring more and more people into the tax net and document the country’s economy.

The FBR had previously given a deadline of January 31, 2020 to file income tax returns.

Why file your tax returns

Filing tax returns may seem like a long, difficult and unnecessary process but the pros outweigh the cons. By filing your tax returns you are entitled to:

  • Lower taxes on bank transactions
  • Lower taxes when buying property or cars
  • Tax refunds

How to do it

The process to file your returns is pretty easy and can be done online.

The FBR has an online income return system called IRIS, which can be accessed at www.iris.fbr.gov.pk. You register for it with your 13-digit identity card number or using your seven digit national tax number.

There is a section called ‘Return of Income’ through which users can click on the ‘Declaration’ tab and scroll through the options. For people whose tax is deducted at source, meaning your income tax is already cut before you get your salary, all you have to do is declare it under the ‘Adjustable Tax Regime’ section with the relevant code.

The FBR website also has a FAQ section to guide you through filing your returns.

FaceBook WhatsApp
 
HOME  
 
 
RELATED STORIES
 

Tell us what you think:

Your email address will not be published.

FaceBook WhatsApp
 

 
 
 
 
 
FBR, income tax returns, deadline, wealth statement
 
 
 
 
 
 
About Us   |   Anchor Profiles   |   Online Advertising   |   Contact Us   |   Feedback   |   Apps   |   FAQs
Facebook   |   Twitter   |   Instagram   |   YouTube   |   WhatsApp