The Federal Board of Revenue (FBR) has written letters to big organizations, corporate entities, and financial institutions, including banks, to ensure the filing of income tax returns by their employees by December 8, 2020.

Sources familiar with the matter told ProPakistani that the Chief Commissioner, Large Taxpayer Office (LTO) Karachi, has written letters to 22 banks falling within the jurisdiction of the said LTO to ensure filing of income tax returns by their employees.

The FBR’s awareness exercise is not limited to the banks but also organizations with large numbers of employees. FBR instructed the organizations to direct their employees to file their tax returns, which are due by December 8, 2020, for Tax Year 2020.

As per the letter, a large number of employees are not filing their annual income tax returns. They are under the impression that since there is at source deduction of income tax on their salaries, therefore filing of income tax return is not required. This is a misconception, which is against the provisions of the law.

Large Taxpayers Office (LTO) Karachi informed that an NGO – the Karsaz Education and Welfare Organisation – has partnered with it to help people file income tax returns free of charge. The letter of the Chief Commissioner LTO Karachi included the contact details of the organization, moreover informing that volunteers at KEWO would help employees file their tax returns for the 2019-2020 financial year without any charges.

 

Source: Propakistani

By Asim