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TAXATION

FBR extended income tax return filing date up to December 24

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Federal Board of Revenue (FBR) has extended income tax return filing date up to December 24. Extension has been allowed to those taxpayers who requested to FBR through applications under Section 119 of Income Tax Ordinance, 2001 for extensions.

Last date for filing tax return lapsed

Previously, the last date of filing income tax return was up to 8th December, 2020. FBR refused to further extend the general last date for filing income tax return for tax year 2020.

Extensions granted to applicants

The FBR granted extensions to all those taxpayers who filed applications for extensions (online or manual) up to December 08, 2020. All those taxpayers, who applied for extensions by December 10, 2020, now have received approval from FBR on December 12, 2020 under Section 119(3) of Income Tax Ordinance, 2001 for submission of their tax returns.

Comparison with tax year 2019

Up to December 12, 2020 FBR received around 1.8 million tax returns for tax year 2020. About 300,000 applications for extension received by FBR for tax year 2020. The no of taxpayers who filed tax returns remained very low as compare to previous tax year of 2019. Last year, 2.98 million filed their tax returns up to December 6, 2019.

Tax return filing date extended to Dec 5: FBR exempts penalty on late submissions | Customs Today Newspaper

Demand of general extension

Pakistan Tax Bar Association, various other tax bars and chambers of commerce have already raised their voice for general extension of last date for filing income tax returns for tax year 2020. They have also even highlighted many errors in tax return form. Covid-19 pandemic situation all over the world also demands general extension in filing income tax return without any question. Taxpayers were also not aware how to submit the extension applications to FBR for getting time for filing tax returns.

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