FBR may extend date for filing income tax return

FBR may extend date for filing income tax return

ISLAMABAD: Federal Board of Revenue (FBR) is likely to grant first date extension for filing income tax return for tax year 2020.

The last date for filing return of income and wealth statements for tax year 2020 is September 30, 2020 for salaried persons, business individuals, Association of Persons (AOPs) and companies having special year.

However, delayed issuance of return form for tax year 2020 by the FBR has made it difficult for taxpayers to make compliance by due date.

Tax experts said that the taxpayers were still waiting to get withholding statements under various heads.

They also said that the taxpayers were less bothered about the due date for filing annual returns as for the past many years the FBR used to issue return form after lapse of time and extend the date.

Besides, tax bars are also demanding the FBR to instead extend the date the taxpayers should be given time as per law for filing their returns.

The FBR issued a finalized income tax return form on September 08, 2020 for taxpayers, which the tax bars said the form should be issued by the start of fiscal year giving around three months to taxpayers filing their returns, whose due date is on September 30.

Although the FBR has launched a media campaign urging people to file their income tax returns by due date. But FBR sources said that the authorities are going to extend the date considering all the situations.