KARACHI: Karachi Tax Bar Association (KTBA) has asked the Federal Board of Revenue (FBR) chairman to announce the last date for filing income returns tax year 2017 after finalization of return forms.
The KTBA in a letter to the chairman on Wednesday said that the FBR had issued SRO 950(I)/2017 dated September 20, 2017, which was uploaded on the FBR website on September 23, to invite stakeholders’ comments on draft wealth statement form for tax year 2017. “The form shall be finally notified after receiving comments from the persons likely to be affected,” the bar said.
Over here, it is needless to mention that the time prescribed under the law for manual / e-filing the tax return along with wealth statement for the taxpayers falling under the FTR and salaried individuals is two months from the end of financial year i.e. August 31 and similarly three months form the end of financial year for business individuals i.e. September 30, every year.
“Since the final / complete return would be notified after September 27, 2017 the last date of filing the return of income / statement of final taxation along with wealth statement should be two months and three months, respectively from the date of finally notifying the said forms,” the KTBA said.
Further, the tax bar also requested the chairman to send a representative to the association to explain the features of the return of income and wealth statement to resolve the queries of our members and to enable them to file / e-file the returns efficiently.
