FBR urged to extend returns filing date

KARACHI: Tax practitioners on Wednesday urged the Federal Board of Revenue (FBR) to extend the last date for return filing as income tax returns form is yet to be finalised. 

Karachi Tax Bar Association (KTBA), in a letter sent to FBR chairman, said the tax return form would be notified during the current month. KTBA appreciated the FBR for issuing drafts of wealth statement form and reconciliation statement.

The bar’s representatives said submission of wealth statement declaration is mandatory before filing of annual income return. They added that it is needless, in this situation, to request the extension in deadline, which is expiring on September 30. 

The time prescribed under the law for manual/e-filing of the tax return along with wealth statement for the taxpayers falling under the final tax regime and salaried individuals is two months and three months for business individuals form the end of fiscal year.

Since the final return would be notified after September 27 the last date should be from the date of notification. KTBA also requested the FBR chairman to send FBR representative for explaining the features of the return of income and wealth statement for tax year 2017 to resolve the queries of bar members and to enable them to efficiently file/e-file the returns.