ISLAMABAD
Federal Board of Revenue (FBR) has decided to audit millions of income tax returns.
According to FBR, short filers, tax payers paying less tax and those concealing real income will be traced through desk audit.
Physical audit will be conducted in respect of those tax payers who are identified in desk audit.
Action will be taken against those who file wrong tax return. In the first phase desk audit will be conducted in respect of 7 lac or 10 lac tax returns. Income Tax returns of salaried class and corporate tax payers are included therein.
FBR will identify wrong information or the concealed income in tax returns. Tax returns of CEOs and officers will also be subjected to this process.
Desk audit or analysis of the income tax returns will be conducted through modern data analysis system. Heavy fines will be imposed and legal proceedings will be initiated if the income tax returns are proved wrong. FBR has given approval to audit plan of the year 2025. The number of income tax returns can surpass 70 lac till November 30.
