ISLAMABAD: Federal Board of Revenue (FBR) on Wednesday categorically stated that there would be no further extension in filing of Income Tax returns beyond due date of November 30.
In a statement issued here by the FBR said that Federal Minister for Finance, Revenues, Statistics and Economic Affairs, Senator Mohammad Ishaq Dar on Tuesday, November 15, 2016, extended the due date for filing of Income Tax Returns/Statements by Salaried persons, Individual, AOP, and Companies till November 30, 2016.The FBR statement said that the Minister extended the date in view of the spirit of taxpayers’ facilitation.
“FBR wants to inform the taxpayers that the portal for filing electronic returns is working smoothly as is obvious from the fact that by November 15, 2016, 467,778 returns have been filed electronically whereas the number of returns filed electronically by 15 November, 2015 was 341, 810”. This represented an increase of 37 percent in the number of returns received electronically, the FBR said.
In view of the position explained above, FBR wanted to inform the taxpayers and the tax advisers that no further extension beyond November 30,2016 would be granted in the date for filing of tax returns/statements and they may file their Income Tax Returns at the earliest to avoid the consequences of late/non-filing of returns which include charging of higher rates of withholding taxes, imposition of penalty and compulsory selection for audit under the relevant provisions of the Income Tax Ordinance.
