FBR Starts Audit Of 319,123 Salaried People Who Were Late in Filing Their Returns
The online system of the Federal Board of Revenue (FBR) has automatically decided on 319,123 audit cases of salaried individuals for submitting income tax returns after the due date.
The audit may be carried out on the financial information relating to the span of the last 3 years. Notably, the online system has decided on 1.02 million audit cases automatically under Section 214D of the Income Tax Ordinance, 2001.
Nevertheless, an authentic Taxpayers’ Audit FBR stated in a presentation that late filers whose earnings come under FTR / PTR can avail a suggestion to pay the penalty and get the audit lawsuits closed to them under the newly inserted Section 214E.
The different alternative for those taxpayers is to go through the audit and gift statistics, reconciled financial statements, and different required files.
The pending cases under Section 214D are:
- Tax Year 2015: 300,240
- Tax Year 2016: 475,901
- Tax Year 2017: 246,288
The board also stated that around 402,176 cases are of salaried individuals and Final Tax Regime (FTR) cases. The details of these cases are:
- Salary Income: 319,123
- FTR Cases: 44,940
- Property Income: 12,275
- Capital Gain: 202
- Profit on Debt: 44
- Dividend: 20
- Miscellaneous 23,572