Salaries Persons be Relax, Penalty on Late Filing Waived Off this Time

Yes, the government has decided to waive off the penalty of late filing of income tax return along with the audit. This was tweeted by Hammad Azhar Minister of State for Revenue in his announcement today. Please take a look on the tweet below.

In last week a notice was sent by Federal Board of Revenue (FBR) to all late fillers, who file their income tax return after the due dates for the year 2016 and 2017. The following notice was received from FBR in the inbox of IRIS portal.

AUDIT UNDER SECTION 214D READ WITH 177 OF THE INCOME TAX ORDINANCE, 2001
Whereas, for the tax year mentioned above, in your case, Return is not filed within the date it is required to be filed as specified in section 118, or, as the case may be, not filed within the time extended by the Board under section 214A or further extended for a period not exceeding thirty days by the Commissioner under section 119; or the tax payable under sub-section (1) of section 137 has not been paid.
AND WHEREAS, you also do not fulfill the conditions laid down in sub section (3) of Section 214D;
NOW THEREFORE, the said return stands automatically selected for audit under section 214D of the Income Tax Ordinance, 2001. You are required to produce record / books of account / documents, on or before the due date mentioned above, before the Officer of Inland Revenue holding jurisdiction over the case, who will conduct audit for your income tax affairs as per procedure given in Section 177 of the Income Tax Ordinance, 2001.

The penality to close this audit was Rs. 20,000 for one finicial year and the deadline was November 30, 2018.

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