FBR slaps fines on late filers of income tax returns

The Federal Board of Revenue (FBR) has slapped heavy fines on taxpayers for filing their income tax returns after the due date, reported 24NewsHD TV channel on Tuesday, quoting sources.

As many as 367,000 taxpayers were fined who filed their returns after March 31.

According to the sources, the companies while filed their returns after the due date were asked to pay Rs20,000 extra as a fine for late filing, associations of persons Rs10,000 and individuals were asked to pay Rs1,000 fine.

The taxpayers who had paid the fine were enlisted in the active taxpayers list.

The number of taxpayers has now crossed the 25,45,000 figure and by March 31, 21,78000 taxpayers have filed their returns.

Reporter Waqas Azeem