The Federal board of revenue has released an advertisement that clearly states the conditions that make you eligible to pay the income tax return. The last date of submitting the tax is 21st November and all should read the guidelines issued by the FBR so that you are not in doubt about your eligibility about paying your income tax.
According to the advert, people who ate NTN holders will have to pay taxes. People with an annual income more than Rs 400,000 will have to pay the tax. Companies closing their Books of Accounts on or before 31st December 2013 are liable to pay taxes. Individuals charged to tax in tax years 2012 or 2013. Individuals with immovable properties of 250 sq yards or any sized flat in Cantt or Municipal or ICT limits will have to pay taxes. Individuals with immovable property of 500 sq yards or more outside Cantt or municipal or ICT limits are eligible to pay taxes. Individuals with flats of 2000 sq feet covered area are eligible to pay taxes.
Commercial or industrial electricity connection holders with an annual bill more than Rs 500,000 are required to pay taxes. Owners with a vehicle that is more than 1000 cc are supposed to pay taxes. Welfare and non profit organizations are also called upon to pay taxes. For further details please visit fbr.gov.pk.