KARACHI: The Karachi Tax Bar Association (KTBA) has asked the Federal Board of Revenue (FBR) to extend the date of depositing taxes deducted under Rule 43 of the Income Tax Rules 2002 till September 25, 2016, following Eid holidays announced from September 12 to 14, 2016.
In a letter sent to chairman FBR, the KTBA said that taxes deducted Rule 43 of the Income Tax Rules, 2002 was required to be deposited into the government treasury within seven days from the end of each week ending on every Sunday. However, the same deducted for the period from September 5 to 10, 2016 are required to be deposited by September, 16 2016. Following the Eid holidays announced from September 12 to 14, 2016, there will be only two working days available for taxpayers to collect the withholding tax, prepare the requisite documents (PSIDs) and deposit the same into the national kitty.
