In a letter sent to chairman FBR, the KTBA lauded the efforts of FBR for notifying the form of wealth statement & reconciliation statement for e-filers and forms of return of income / statement of final taxation, wealth statement & reconciliation statement on excel sheet for manual filers vide S.R.O. 950(I)/2017 dated 20th September, 2017, although the same was uploaded on 23rd September, 2017 on the website of FBR, which shall be finally notified after receiving comments from the persons likely to be affected.
The letter further stated that the time prescribed under the law for manual/e-filing the tax return along with wealth statement for the taxpayers falling under the FTR and salaried individuals was two months from the end of financial year ie August 31 and similarly three months form the end of financial year for business individuals ie 30th September every year.
Since the final / complete return would be notified after 27th September, 2017 the last date of filing the return of income/statement of final taxation along with wealth statement should be two months and three months respectively from the date of finally notifying the said forms. Therefore, it is requested to kindly send representative to KTBA to explain the features of the return of income and wealth statement to resolve the queries of members and to enable them to file / e-file the returns efficiently.
Copyright Business Recorder, 2017