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You can now file your tax returns by October 31

September 30, 2019
 
You can now file your tax returns by October 31

The government has extended the deadline for people to file their income tax returns.

People can file their tax returns by Thursday, October 31. The deadline was initially expiring today (September 30).

According to circular issued by the FBR on Monday, the people who, as of September 30, “failed to file their income tax returns/statements are hereby allowed to file their returns/statements by 31st October, 2019”.

Similarly, it added that companies that, as of September 30, “failed to file their income tax returns/statements, though have paid ninety five per cent of the admitted tax liability, are hereby allowed to file their returns/statements by 31st October 2019.”

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:

  1. Lower taxes on bank transactions
  2. Lower taxes when buying property or cars
  3. 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.

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