The Federal Board of Revenue has extended the deadline for people to file their income tax returns for Tax Year 2019, according to a circular it issued Friday.
People can now file their tax returns by December 16. The deadline was to expire tomorrow (November 30).
Why file your tax returns
Filing tax returns may seem like a long, difficult and unnecessary process but the pros outweigh the cons. By filing your tax returns you are entitled to:
- Lower taxes on bank transactions
- Lower taxes when buying property or cars
- Tax refunds
How to do it
The process to file your returns is pretty easy and can be done online.
The FBR has an online income return system called IRIS, which can be accessed at www.iris.fbr.gov.pk. You register for it with your 13-digit identity card number or using your seven digit national tax number.
There is a section called ‘Return of Income’ through which users can click on the ‘Declaration’ tab and scroll through the options. For people whose tax is deducted at source, meaning your income tax is already cut before you get your salary, all you have to do is declare it under the ‘Adjustable Tax Regime’ section with the relevant code.
The FBR website also has a FAQ section to guide you through filing your returns.