ISLAMABAD: Federal Board of Revenue (FBR) has empowered chief commissioners of Inland Revenue to allow extension in date of filing of income tax return.
The FBR for explaining the important changes to Income Tax Ordinance, 2001 through Finance Act, 2017 has issued Income Tax Circular No. 04 of 2017. The FBR said that prior to the Finance Act, 2017 taxpayers had no remedy or legal recourse in case the concerned Commissioner did not entertain an application made by a taxpayer for extension or further extension in time for filing of income tax return, statement of final taxation or wealth statement.
Amendment has been in sub-section (4) of section 119 of the Ordinance through the Finance Act, 2017 whereby the concerned Chief Commissioner has been empowered to grant extension or further extension to a taxpayer for filing of income tax return, statement of final taxation or wealth statement for a maximum period of fifteen days.
The Chief Commissioner has also been authorized to grant such extension or further extension for a period exceeding fifteen days in case there are exceptional circumstances justifying a longer extension of time.
