The Federal Board of Revenue (FBR) on Friday said it has given taxpayers legal time to file income tax returns for the 2020 tax year. Therefore, the date will not be extended further after December 08, 2020.
The FBR informed all the Chief Commissioners of Inland Revenue in the office order about the last date of filing of returns. However, the FBR said that taxpayers who seek extension of the date should be facilitated.
According to Section 114 of the Income Tax Ordinance, 2001, taxpayers have already been given a period of 90 days up to September 30 in order to fulfill their legal obligations.
This year, as new income tax return form was uploaded on IRIS on 08 September 2020, the last date for submission of tax returns has been extended from 30 September 2020 to 08 December 2020 through Circular No. 04. The FBR said repeated extensions compromise the credibility of the tax administration and adversely affect taxpayers’ perceptions of the future.
The FBR further stated that the provisions of Section 119 (I) of the Ordinance stipulate that “a person who submits a tax return under section 114; can apply to the commissioner for the provision of extension in time for filing tax return.”
As the date of submission of tax returns for the tax year 2020, which is December 08, 2020 has been retained as the final date for this purpose, it is necessary that the Commissioner extend the cases for extension.
IRIS is being amended as per the order of the office to offer the entire process of filing for extension and time to the taxpayers for submission of tax returns so that it is easier and less time consuming.The Chief Commissioners have been directed to remain vigilant and ensure that any requests for extension should remain complied.
Covid 19 and Tax Return Filing Date Deadlines
It is a matter of fact that Pakistani taxpayers are not concerned about filing income tax returns at the moment. We’re in the midst of unseen, record-breaking unemployment, bankruptcy situation and tax return filing numbers are very low at this time and taxpayer meantime lost it’s confidence to comply with tax returns.
Situation reveals that this time taxpayer needs with support and confidence. Businesses faced a big slump and now trying to overcome from the situation. Pandemic is in all over the world which could last for some few more months. Conditions and lock downs on the citizens and business community has become routine matter. In this overall situation instead of only extension in deadline in filing tax return some major steps need to be done in confidence building.
- Happy Independence Day Pakistan 14 August 2022
- Latest FBR Lucky Draw 15 August 2022
- Latest Mobile Price in Pakistan and PTA Tax Calculator
- What are Latest Tax Accountant Job Description in 2022
- How to Check LESCO Bill Duplicate Online
- August 2022
- July 2022
- June 2022
- May 2022
- April 2022
- March 2022
- February 2022
- January 2022
- December 2021
- November 2021
- October 2021
- September 2021
- August 2021
- July 2021
- June 2021
- May 2021
- April 2021
- March 2021
- February 2021
- January 2021
- December 2020
- November 2020
- October 2020
- September 2020
- August 2020
- July 2020