#LateFilingOfIncomeTaxReturnFBR

2 articles

Penalties will not be imposed on late filers of income tax returns: FBR

Federal Board of Revenue (FBR) has softened its stance on imposing fines on late filers in the tax year 2020-21. Although the tax authority has not imposed any fines, the fines have…

January 18, 2021

Taxation

Penalty for non-filing income tax returns, wealth statement, foreign assets/income statement & active status

Offence: Where any person fails to furnish a return of income as required under section 114 within the due date. Penalties: Such person shall pay a penalty equal to 0.1% of the…

November 22, 2020