PESHAWAR: Chief Commissioner Inland Revenue Regional Tax Office (RTO) Peshawar, Khurshid Ahmad Khan Marwat Monday urged trading community and salaried class to submit their income tax-returns before the deadline to perform their national obligation. In a press release issued here from Tax House Peshawar, he said that September 30 is last date for filing income tax returns that will not extended. The Chief Commissioner Inland Revenue said that the filing of income tax returns is mandatory on all those individuals and Associations of Persons (AoPs), whose income business income is over Rs 0.3 million and salaried persons whose annual income is more than Rs.0.6 million. Similarly, he said that the owners of 500 square meter or 2000 square feet covered area flat within the jurisdiction of municipality and Cantonment Board, the owners of 1000 CC vehicles and those commercial and industrial consumers paying annual electricity bill over Rs.0.5 million are also bound to file income tax returns. The chief commissioner said that the timely payment of taxes help the wheel of economy to move and move the country towards economic stability. He said that now time has arrived that we should join hands for economic strength of the country. He further said that trading community and salaried class should compulsorily file their income tax returns before the end of the current month. Otherwise, those failed in timely filing of income tax returns could face a penalty of Rs1000 per day and two years imprisonment.
