The Federal Board of Revenue (FBR) has received record income tax returns, ie, 1,082,868 for Tax Year 2016 as compared to 927,569 tax returns for Tax Year 2015, reflecting a handsome increase of 155,299 returns. It is learnt that the latest data of income tax returns filing has shown a positive trend during the TY16 when compared with the TY15. Over and above 20 per cent increase has been witnessed in filing of income tax returns for tax year 2016 when compared with tax year 2015.
According to sources, the number of return filers is increasing day by day and only in March 2017, a total of 60,000 more returns have been filed for the tax period under review. Within the category of individuals, the FBR has received a total of 1,008,947 returns for the Tax Year 2016 as compared to 861,069 returns filed during the Tax Year 2015, reflecting an increase of 147,878 returns.
A total of 45,505 Association of Persons (AoPs) have filed income tax returns for the Tax Year 2016 as compared to 41,274 returns during the Tax Year 2015, reflecting an increase of 4,231 returns. Within the category of companies, the FBR has received a total of 28,416 returns for the Tax Year 2016 as compared to 25,226 returns during the Tax Year 2015, reflecting an increase of 3,190 returns. The manual returns entered in the FBR system stood at 183,191 for the Tax Year 2016 as compared to 225,782 returns manually filed for the Tax Year 2015.
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