Tax Consultancy, Taxation

What happens when return not filed within due date

Posted on by Muhammad Waheed Ensari

What happens when return not filed within due date

What happens when return not filed within due date: Finance Act has approved that a person who fails to furnish or update taxpayer’s profile within the specified period, shall not be included in the active payers’ list for the latest tax year.

However, such person shall be included in the active taxpayers’ list upon filing the taxpayer’s profile and paying the surcharge amount.

Updating of tax payer profile has approved to be made mandatory.

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Muhammad Waheed Ensari

Founder & CEO, BeSpoke Consulting and Training with 20+ Years of Professional Experience (International and National) in the field of Business Development, Taxation, Accounting, Finance & Auditing with good understanding of financial management system. Strong exposure in the field of general accounting, G/L maintenance, financial reporting and Internal control procedures. Expert in handling people of diverse nationalities, and renowned for being an excellent team player with a positive “can do” attitude. Energetic & self-motivated with a high degree of cultural sensitivity.

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