Federal Board of Revenue (FBR) in July 2022, made available Income Tax Returns Forms for tax return filing of Tax Year 2022.

As per the previous year practice FBR facilitated taxpayers by providing the tax return form for tax year 2022 in July. It will help the taxpayers to make their compliance of submission of annual income tax returns on time. This was the reason that last year FBR did not extend last date beyond October 15 2021 for tax year 2021 tax return.

Income Tax Returns Form for tax year 2022 is available for Salaried, Individuals, Sole Proprietors, Partnership businesses and Corporate sector companies.

Last Date to File Tax Return for tax year 2022

Last date for Salaried, Individuals, Sole Proprietors, and Partnership businesses (financial year ending June 30) will be 30 September 2022. Moreover, Last date for Corporate sector companies (financial year ending June 30) will be 31 December 2022.

Penalty for Late Filing of Tax Return of FBR

If taxpayers submit tax return after due date then they have to pay penalty after submission of tax return. As soon as penalty is paid taxpayer’s name is included in the Active taxpayer list. Penalty for becoming active filer in FBR is Rs 1,000 for Individual and salaried taxpayer. Moreover, Rs 10,000 for AOPs / Partnership Businesses and Rs 20,000 for Corporate Sector taxpayers.

Tax Consultants Near Me

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