Federal Board of Revenue (FBR) has uploaded the Income Tax Returns Forms for Tax Year-2020. FBR has further simplified the Income Tax Returns for salaried class and small retailers. The small retailers having turn over up to 10 million will now file simplified one pager Income Tax Returns for Tax Year-2020. The Income Tax Returns can be filed through web portal and Tax Aasaan application.
This was announced in a press conference by Spokesperson FBR Syed Nadeem Hussain Rizvi, Member IR Policy Ch. Muhammad Tarique and Member IT Asim Ahmed here at FBR HQ. It was also informed that wealth statement form had also been further simplified and any ambiguity or confusion being faced by the filers had been removed in the Tax Returns Forms for Tax Year-2020. Moreover, the taxpayers are provided guidance on filling all the required particulars. “It is like a guided tour,” said Member IR Policy Ch. Muhammad Tarique.