Federal Board of Revenue is likely to touch one-million mark by 30th November so far as the filing of income tax returns is concerned, said sources. They said the Board had received 750,000 tax returns till date while 10 days were left in culmination of the deadline of November 30. The Board sources said achieving that milestone would be a manifestation of successful working of IRIS for e-filing of returns. These sources have further pointed that the Integrated Risk Information System (IRIS) of the Board was facing technical glitches that had slowed down the speed of e-filing of returns.

"It has been coupled with slow internet speed due to an extensive development in and around the Lahore High Court has hit filing of income tax returns," they added. The Board was likely to touch the mark much before in case the system had performed efficiently and there was no issues relating to the speed of internet. They added that the role of tax bar cannot be ignored is success of the IRIS, as the tax bar joined hands with FBR to hold seminars and creating awareness for e-filing.

It may be noted that the Board has extended final date of filing returns for three times. Especially, a strong demand has been raised by the tax bars for extension of last date. The bar office bearers pointed out that they would assess the filing of returns some three days before the deadline. In case, the FBR fails to achieve one million returns by the deadline, we would another extension in the last date, they added.

According to the bar representatives, the filers have extended an encouraging response to e-filing and chances of meeting the target is quite bright.

Copyright Business Recorder, 2017