ISLAMABAD: The Federal Board of Revenue (FBR) has once again reminded all tax payers to file their income tax returns by December 8, 2020, which is the final date and will not be extended further.
The FBR, in an official statement on Twitter, said that under Section 114 of Income Tax Ordinance 2001, it is obligatory on all those people who have their houses built on more than 500 square yards, or own vehicles of 1,000 CC or more, to file their tax returns.
Those people who have subscribed to a commercial connection for electricity and whose annual bill is more than Rs500,000 or those people whose business income exceeds Rs300,000 per year are also liable to file tax returns.
Filing tax returns is also mandatory for salaried persons, receiving income of more than Rs600,000.
The FBR has warned that legal action will be taken against people not filing their returns on time.