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:
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.