Taxpayers alert! Time limit for filing ITR has passed.
Taxpayers alert! Time limit for filing ITR has passed. All taxpayers are informed that the last date of filing Income Tax Return (ITR) has expired. Now, if taxpayers want to file their 2022 tax return without penalty, they have to file an extension by December 15, 2022.
The last date for submission of tax returns for salaried, individuals and AOPs was 30 September 2022. Then it was extended 3 more times from September 30, 2022 to November 30, 2022. Thereafter December 15, 2022 was the last date for filing. tax return, and then no further extension by the Federal Board of Revenue (FBR).
Now, if one files his tax return for the tax year 2022 after the due date of December 15, 2022, he has to pay the penalty/surcharge for ATL after March 1, 2023. Because FBR releases list of active taxpayers every March. year and all those who have not submitted their tax returns within the due date will become inactive. Additionally, for updating the active taxpayer status, late filers will also have to pay a penalty.
After payment of penalty/surcharge ATLhis name will be included in it. List of active taxpayers (ATL) immediately.
List of Penalties/Surcharges for ATL
If a person files a tax return after the due date, taxpayers will also pay a penalty as ATL surcharge. He can pay this penalty from March 1, 2023. Because late filers will become inactive in FBR in March 2023. Following is the list of penalties/surcharges for ATL based on the type of taxpayer:
- Salaried, Individual, Rs.1,000
- AOPs, / Partnership Businesses, Rs.10,000
- Private/Public Limited Companies, Rs.20,000
It is further clarified here that the last date for filing of tax returns for private/public limited companies is 31st December 2022.
Once, the late filers will pay the penalty in March 2023, their status will be activated with FBR, otherwise, their status with FBR will remain with FBR even after submission of 2022 tax returns after the due date. The status will remain inactive.
How to become an active tax filer before March 1, 2023
The last date for filing tax returns for the tax year 2022 has just ended on 15th December 2022, now till the end of February 2023 if one wants to be an active filer with FBR then he has to file the tax return. Penalty/surcharge for ATL for this year with tax year 2021. Moreover, if he also files tax return for tax year 2022 after the last date, he will also pay penalty for 2022 in March 2023.
How to become an active tax filer after March 1, 2023
After March 1, 2023, if one wants to become an active tax filer he has to file tax return for tax year 2022 instead of tax year 2021 and also collect penalty/surcharge for ATL for that year. Because FBR will release the latest list of tax filers on 1st March 2023. Therefore, after 1st March 2023 any individual will become an active filer in FBR after payment of penalty/surcharge based on submission of tax return for tax year 2022. For ATL
