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Non filers given no relief on purchase of vehicle, non-moveable property

our correspondent
ISLAMABAD
Federal Board of Revenue (FBR) has clarified that no relief has been given to non-filers in connection with purchase of vehicle and non-moveable property in new finance bill. The clarification issued by FBR said in fact the legal status of non filers has been abolished in new finance bill. According to FBR all people have to file taxable income as per Income Tax Ordinance and in the event of non filing taxable income on big financial transaction, a complete methodology has been evolved under 10th schedule. Such persons will have not only to pay 100 percent more tax on withholding stage but can also be liable to fine and punishment on hidden income.



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