President Lahore Tax Bar Association Ch Qamar-uz-Zaman has urged Chairman Federal Board of Revenue Tariq Mahmood Pasha to extend the date of filing of income tax returns/statements for the tax year 2017. In a letter dispatched on Friday, the President LTBD has drawn attention of chairman FBR towards the fact that the income tax returns/statements of final taxation was initially notified vide SRO.819(1)/2017 dated 17-08-2017 and final income tax return for non-corporate was notified vide SRO.981(1)/2014 dated 28-09-2017 after the due date of the Tax Returns 31-08-2017 for salaried individual and persons covered under Final Tax Regime (FTR) and Income Tax Returns for corporate taxpayers was notified vide SRO.982(I)/2017 dated 28-09-2017, which was also due to be e-filed for FTR on or before 30-09-2017, which was already extended up to 31-10-2017, whereas the law has provided three months statutory time to file their Income Tax Returns/Statements.

He said there are certain legal clarifications which are pending before FBR regarding the circular No.6 of 2017 dated 29-09-2017 clarification on Bahbood Saving Certificates/Pensioner's Benefit Accounts. This fact has already been intimated to the FBR at various occasions and also covered and published in the electronic and print media and this issue needs your attention for early resolution to benefit the senior citizens, widows and retired persons.

He has also appreciated the efforts of broadening tax base through outreach program through a successful awareness campaign for filing of tax returns with collaboration of tax bar associations and trade associations. The existing polices and harsh amendments in law (i.e. automatic selection for audit under section 214-D of the Income Tax Ordinance, 2001) is also a reason for decreased number of filing of income tax returns that still needs further improvement and confidence of the taxpayer.

Copyright Business Recorder, 2017