Tuesday, September 6, 2016

How to submit/efile income tax return online for 2014, 2015 & 2016 as business individual/AOP

Introduction

Easy guide for submitting income tax return and wealth statement for tax years 2014, 2015 and 2016 with FBR. Who is required to file income tax return and how to fill in the return is explained here.





How to file Income Tax Return for Tax years 2014 and 2015

Business individuals having net income of less than Rs.500,000 can file returns mannually, while all other individuals, Association of persons (AOPs) and companies are required to e-file their income tax returns and manual returns are no more acceptable. All individuals registered with Sales Tax are also required to e-file their returns. Tax returns for tax year 2016 can be filed by using the internet portal of FBR of iris . For the individuals having income less than Rs.500,000 can download return form from FBR website and after filling in the date submit the same in the local office of FBR.
For business/salaried individuals and AOPs the deadline for submission of return is 30th September 2016 which will be extended as is done all the years before.

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