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0.1m submit tax returns online so far

FE REPORT | November 24, 2022 00:00:00

Some 0.1 million (1.0 Lakh) individual taxpayers submitted their tax returns online until Wednesday in a much-sought-after transition as they found digitised system taxpayer-friendly and simple, officials said.

Also, the National Board of Revenue (NBR) received 0.3 million tax returns from new taxpayers, most of whom submitted tax returns using the online platform.

A senior official said tax-return submission by individual taxpayers would hit a new record this year, until the deadline for return submission (November 30), because of a new fiscal measure.

In the current fiscal year, 2022-23, people are required to submit the proof of submission of tax return (PSR) for obtaining 38 types of services - both from private and public entities.

The NBR introduced the e-Return or online tax-return system in October last year to facilitate marginal taxpayers.

An innovation team of the NBR developed the e-Return system on their own initiative.

According to the Income Tax Ordinance 1984, all TIN-holders, excepting a few, must submit tax returns every year.

People of the marginal-income group, including senior citizens and homemakers, are compelled to submit tax returns under the provision.

Officials said the online tax-return system is getting momentum ahead of the deadline.

The system ensures no harassment, no bribe or no delay in issuing acknowledgement certificate of tax submission.

Auto tax-calculation method, including expenditures and other legal aspects, has been inserted in the application.

Even regular taxpayers, who need extra time after the deadline, can submit application in the system.

In case of missing the cut-off time, the taxpayers would have to count 2.0 per cent monthly penal tax with their payable tax for submitting returns.

There is scope to prepare offline return, too, for the taxpayers who have to attach files to claim tax refund.

Last year, some 2.4 million taxpayers - of the 6.0 million TIN-holders - submitted tax returns.

The number of TIN-holders crossed 8.0 million across the country.

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