FBR has extended the deadline to file return for year 2020 till end of this year due to covid-19 situation. Now you can add your name in Active tax payers list by paying 1000 Rs surcharge fee and avail the benefits as tax payer.
TAX PERIOD FOR INCOME TAX RETURN
Income Tax Return relates to a specific tax year. A tax year is a period of twelve months ending on 30th day of June i.e. the financial year and is denoted by the calendar year in which the said date falls. For example tax year 2017, covers a period from 1st July 2016 to 30th June 2017.
Tax year includes special tax year, which means any period of twelve months and is denoted by the calendar year relevant to the normal tax year in which closing date of the special tax year falls. For example, tax year for the period of twelve months from January 01, 2016 to December 31, 2016 shall be denoted by calendar year 2017 and the period of twelve months from October 01, 2016 to September 30, 2017 shall be denoted by calendar year 2018.
GET INCLUSION IN ATL
A person’s name will be part of the current ATL, if the Tax Return filed pertains to the Tax year of the relevant ATL. For example, to be part of the ATL published on 1st March 2019, a person must have filed a Tax return for the Tax year 2018. Similarly, to be a part of the ATL published on 1st March 2020, a person must have filed a Tax Return for the Tax year 2019.
As a Reputed Tax consultation Firm, we can help you add your name in ATL by nominal fee of 2000 Rs as salary individual. For organizations and companies you can contact us for free consultation.