According to the FBR, the date of filing of Returns of Total Income /Statements of final Taxation which was due on 31st August, 2017 and extended up to 15th November, 2017 is hereby further extended up to November 30, 2017. Moreover, the date of filing of Income Tax Returns/Statements of final taxation for Individuals and Associations of Persons, which was due on 30th September 2017, and extended up to 15th November, 2017, is hereby further extended up to November 30, 2017, FBR added.
Sources said that the FBR has received over 800,000 income tax returns till November 15, 2017 as compared to 575,000 returns received till same period last fiscal year (November 15, 2016), reflecting an increase of 225,000 returns, sources said. Official added that the FBR will cross the figure of 1.2 million returns which were received during the last fiscal year.
Meanwhile, a press release of Ministry of Finance said: Federal Board of Revenue (FBR) has extended due date for filing of Income Tax Returns/Statements by salaried individuals, other individuals and AOPs, till 30th November, 2017. Extension of date has been approved by the Finance Minister Senator Mohammad Ishaq Dar on the proposal of FBR, in view of requests made by tax bars, various trade associations and members of the business community. It was felt that the taxpayers could not find ample time for filing of their tax returns. It may be recalled that in the spirit of facilitating filers, the due date was earlier extended from 31st October to 15th November 2017.
It is however added that due date for filing of returns/statements of final taxation in case of companies has not been extended and remains 15th November, 2017.
Copyright Business Recorder, 2017