LAHORE: The Federal Board of Revenue (FBR) has further extended the date for filing of tax returns from March 15 to March 31 to facilitate traders under the Voluntary Tax Compliance Scheme (VTCS).
The FBR also extended the date of filing returns for individual filers to March 21, FBR spokesman Dr Mohammad Iqbal said.
The spokesman, however, said Withholding Tax (WHT) would be charged from non-filers on bank transactions at the rate of 0.4 percent instead of 0.3 percent until March 31.
There would be no further extension in the date for filing of returns and non-filers would be charged WHT at the rate of 0.6 percent after March 31, he added.
Dr Mohammad Iqbal said the non-filers would also be served notices after the new deadline. Since the Computerized National Identity Card (CNIC) had now been made tax number so no non-filer would not be able to deceive the tax collecting authority. All their bank transactions would be detected through their CNICs, he added.
