LAHORE: The Federal Board of Revenue (FBR) should fix final date of filing of tax return once tax return is corrected completely. The mistakes in the tax return can be corrected with the due consultation with the tax bars.
He said the tax return is yet to be corrected despite the fact that several months have been passed since January 1 to November 7. Date for filing return is extended every year after the final date is announced but shortcomings in the return have never been removed for good.
These deliberation came under discussion in a seminar held on the topic of “Tax Return and Shortcomings” by the Pakistan Tax Bar Association the other day.
PTBA Patron in Chief Abdul Qadir Memon, President Aftab Hussain Nagra, SVP Qari Habibur Rehman Zubari, former president Naeem Shah advisor Shehbaz Qadir, who Syed Qasir Bukhari, PTBA Academy vice chairman Rana Munir Hussain, former vice-president Lahore Tax Bar Association Ashiq Ali Rana, the PTBA Ferhan Shehzad, Shahbaz Sidique, Zohaibur Rehman Zubari and others were present on the occasion.
Habib Fakhro pointed out shortcomings in the return 2020-21 and said that it is now November but shortcomings in the return are still visible.
He said that as per law by January 1 the tax return should have been finalized but it could not done and there is no one to take responsibility.
Speakers on the occasion said that millions are wasted on advertisement to file tax returns properly but after the due date the same is extended again.
The speakers urged the government and FBR to consult with PTBA and local bars to streamline the return issue.
