LAHORE: The Federal Board of Revenue (FBR) has started issuing notices to all those who had failed to file their income tax returns before December 5, 2014.
Talking to Customs Today, an official of the FBR Regional Tax office (RTO) Lahore said that the FBR had given sufficient time by repeatedly extending the deadline and it was extended up to December 5. He added that department had started to serve the notices after the deadline passed.
It is important to mention that according to a notification issued by the FBR, after 5th December, 2014, non filers will be issued notices for levy of penalty. It may be noted that the minimum amount of penalty is Rs 20,000. Default surcharge for late payment of tax will also be charged under section 205 of Income Tax Ordinance, 2001. It may also be noted that if the return has not filed by a taxpayer even by 5th December, 2014, penalty and default surcharge will be levied.