The online system of Federal Board of Revenue (FBR) has automatically selected 319,123 audit cases of salaried individuals for filing income tax returns after the due date.
The audit will be conducted of the financial details pertaining to the period of last three years. Notably, the online system has selected 1.02 million audit cases automatically under the Section 214D of Income Tax Ordinance, 2001.
Nevertheless, an official of Taxpayers’ Audit FBR said in a presentation that the late filers whose income comes under FTR/PTR can avail an offer to pay the penalty and get the audit proceedings closed against them under the newly inserted Section 214E.
The other option for these taxpayers is to undergo the audit and present records, reconciled financial statements, and other required documents.
The pending cases under Section 214D are:
- Tax Year 2015: 300,240
- Tax Year 2016: 475,901
- Tax Year 2017: 246,288
The board also stated that around 402,176 cases are of salaried individuals and Final Tax Regime (FTR) cases. The details of these cases are:
- Salary Income: 319,123
- FTR Cases: 44,940
- Property Income: 12,275
- Capital Gain: 202
- Profit on Debt: 44
- Dividend: 20
- Miscellaneous 23,572