Important news for income tax return filers
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Islamabad: The Federal Board of Revenue (FBR) has decided to audit retailers and real estate tax filers who submit income tax returns.
According to details, the FBR has announced a new strategy to combat tax evasion, and it includes auditing the tax returns of retailers and real estate tax filers.
The FBR has issued a warning that retailers should avoid errors in income tax and sales tax, and audits of the tax returns of retailers and real estate tax filers will be conducted.
Sources from the FBR stated that the decision regarding the audit of income tax and sales tax for retailers will be made at the regional tax offices (RTOs).
They also mentioned that practical measures have been taken to combat tax evasion in real estate, and audits of real estate tax filers will be carried out, along with audits of their tax returns by the relevant RTOs.
According to the FBR sources, a lottery system will not be used for tax audits. Instead, the relevant RTOs will exercise discretion under their delegated powers for the selection of audits.
