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FBR Releases Active Taxpayers List for Tax Year 2020
The Federal Board of Revenue (FBR) Monday released the Active Taxpayers’ List of over 2.1 million income tax return filers for Tax Year 2020 as of March 1, 2021.
The income tax returns for the tax year 2020 now stood at 2.62 million compared to 2.43 million last year, showing an increase of 8%.However, the updated ATL contains data of over 2.1 million taxpayers as the rest have not paid the late filing surcharge needed to be on the latest ATL.
The Active Taxpayers List of Azad Jammu and Kashmir is to be considered at par with the ATL (Income Tax) after amendment in the Income Tax Ordinance 2001 through Finance Act 2018.
This Year s Active Taxpayers List to be Published on 1 March propakistani.pk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from propakistani.pk Daily Mail and Mail on Sunday newspapers.
FBR softens stance on penalising late filers
Business
January 17, 2021
KARACHI: Taking cognizance of technical and non-technical hurdles in returns filing, the Federal Board of Revenue (FBR) has decided to act realistically and refrain from imposing penalty on late filers across the board, people familiar with the matter said on Saturday.
Sources said the FBR softened its stance regarding the imposition of penalty on late filers of income tax returns for tax year 2020. Though the apex tax authority has so far not imposed any fine and penalties on filing after due date, the action has been under discussion in the recent past.