KARACHI: Federal Board of Revenue (FBR) has allowed withholding agents to revise their monthly statements within 60 days of filing the original statement.
Through Finance Bill 2017, a new sub-section has been inserted to Section 165 of Income Tax Ordinance, 2001 under which withholding agent who after filing of such statement discovers any omission or wrong statement shall be able to file revised statement within 60 days of filing of the original statement.
At present the law does not allow a taxpayer / withholding agent to revise monthly withholding tax statement even if an omission or wrong statement is identified. The FBR web-portal also does not cater to the option for revision of monthly withholding tax statement.
