FBR issues list of persons liable to file annual income tax return

ISLAMABAD: Federal Board of Revenue (FBR) has issued list of persons/companies required to file their annual tax returns.

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In an attention to taxpayers regarding filing of income tax returns for tax year 2017, the FBR has said that the following categories of taxpayers are required to file their returns by September 30:

1. Business income is more than Rs300,000
2. Income (other than business) is in excess of Rs40,000
3. A person has immovable property of 250 square yards or more or any sized flat in Cantonment/Municipal/Islamabad Capital Territory Limit
4. Companies with financial closing before December 31, 2016
5. A person is charged to tax in tax years 2015 and 2016
6. If a person has land over 500 square yards (outside cantonment/municipal/Islamabad Capital Territory Limits)
7. A person has a flat of 2000 square feet area
8. A person is owner of vehicle over 1000CC
9. In case of welfare institution or Non-Profit Organization