In Islamabad, sources warned that taxpayers could face severe consequences for errors in income tax returns, as tomorrow is the final deadline for submission. The Federal Board of Revenue (FBR) will take strict action against any misleading information in returns, the sources said.
Taxpayers caught concealing assets or tampering with financial records face heavy fines. FBR sources confirmed that the bureau has gathered comprehensive data on citizens’ properties and assets across the country.
FBR to cross-check returns using automated and AI tools
The FBR will verify all submitted returns through an automated system, alongside wide use of artificial intelligence to compare data accuracy. Sources advised taxpayers to seek guidance from professional consultants to avoid costly mistakes, and to correct any errors before the October 31 deadline.
Under Section 182 of the Income Tax Ordinance and its relevant subsections, the FBR holds full authority to impose administrative penalties.
Penalties for false declarations and late payments
Issuing a stern warning to salaried individuals, sources said penalties of up to 75 percent of the tax owed could be levied for submitting false declarations. A late fine of Rs 1,000 per day will also apply if outstanding penalties are not paid on time.
Chairman questions advance tax notices for salaried workers
FBR Chairman Rashid Mahmood Langrial has taken notice of advance income tax notices issued to salaried individuals. According to sources, he believes imposing advance tax on people who rely solely on their salaries is unjustified.
Individuals earning income from other sources may, however, be liable to pay adjustable advance tax, sources added. Salaried taxpayers had reportedly been receiving notices requiring quarterly advance payments. Under the proposed measure, those whose only income is salary will no longer receive such notices, and any additional advance tax already collected will be adjusted immediately.
The move is aimed at easing the financial burden on salaried people, amid growing concern over the tax burden on this group and calls for a fairer distribution of taxes across income groups.
