Taxpayers who missed the deadline to file their returns can now restore their filer status and avoid a Rs25,000 penalty by submitting Form ATL-U, according to a procedure issued by the Federal Board of Revenue (FBR).
Individual taxpayers and sole proprietors can submit the form through the IRIS 2.0 portal. A business registered under the Computerised National Identity Card (CNIC) is legally treated as an individual business.
Taxpayers must log in to their personal IRIS 2.0 account and locate Form ATL-U in the Declaration tab or the task bar. They must then select the relevant tax year and submit the form.
Before submission, taxpayers must read the undertaking provided on the portal and sign it digitally. Under the undertaking, the taxpayer will not be able to purchase, acquire or obtain ownership rights to any property for six months.
Once Form ATL-U is submitted successfully, the filer status of the taxpayer is activated automatically. Citizens who meet the prescribed conditions will not be liable for the Rs25,000 penalty.
