The Federal Board of Revenue was established on January 7, 1920. Its head office is in Islamabad, Pakistan. Earlier, it was called “Central Board of Revenue”. FBR has published FBR Penalty Rates for late filers with reduced penalties as per available resources. The details of FBR Penalty Rates for Late Filers and Non-Filers are given right on this page. Note the reduction in the FBR penalty rate mentioned above for those who fail to file their income tax returns on time.
FBR Penalty Rates for Late Filers and Non-Filers
According to reports cited on Thursday, FBR reduces penalties for non-filing of income tax returns. Late filers who fail to file income tax returns within three months of the due date of FBR authority are introduced to lower rates (Federal Board of Revenue). Penalties For Failure To File Return Tax Currant Year can be checked at the end of the page.
If the income tax returns are not filed within 4 months of the due date, non-filers will be charged a maximum penalty. Additionally, it is known that those who file income tax returns within one month of the deadline will be charged a penalty of 25% of the total amount. About FBR Penalty Rates for Late and Non-filers File Income Tax here. The FBR Penalty Rates for Late Filers and Non-Filers are the same.
Penalties For Failure To File Return Tax Current Year
Section 182 of the Income Tax Act specifies the rate of penalty to FBR for filing income tax returns either late or not at all (Income Tax Ordinance 2001). Penalty for late payment and failure to file income tax returns must be read and apportioned. You can get the latest detail right this page.
FBR Penalty Rates for Non-Filers and Late Filers
The Federal Board of Revenue has announced a reduction in penalty rates for non-filing. A penalty or default surcharge will be imposed on an individual or business that does not pay income tax by the due date. FBR Non-Tax Filing will result in punishment or jail time for failing to pay your tax debts. Check the FBR Penalty Rates 2023 by clicking on the link below.
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|FBR Penalty Rates for Late Filers and Non-Filers|