Return filing due date Dec 31 for all taxpayers

Return filing due date Dec 31 for all taxpayers

KARACHI: The income tax return filing date for tax year 2019 is December 31, 2019 for all types of taxpayers, which is unusual considering past years.

The taxpayers including salaried individuals, business individuals, association of persons (AOPs), final taxpayers, companies falling under special tax year, corporate entities whose financial year ending June 30.

The filing of annual returns by all the types of taxpayers is unusual as during past years the return filing date paused around December 15 to give ample space and time for corporate entities to file their returns.

The filing date for salaried individuals, business individuals, AOPs and corporate entities having special tax year was September 30, 2019. While, the filing of annual return for tax year 2019 for companies is December 31, 2019.

The FBR granted four extensions to taxpayers who were required to file their returns by September 30, 2019 and extended up to December 31, 2019.

The return filing reached to 2.73 million for tax year 2018. The FBR received around 1.8 million returns for tax year 2019 by December 13, 2019. Therefore, FBR required around one million returns during December 13 to December 31 to reach the return filing number of last tax year.

Sources in the FBR said that the return filing date would be extended further as filing huge number during remaining days was not possible. While FBR will announce return filing date for retailers under which a general relief may be granted to all the taxpayers.

The FBR is eying around 3.5 million returns during tax year 2019. Therefore, in order to achieve this number the FBR will need to extend the filing date.

The last date for filing the return for tax year was extended up to August 9, 2019. Therefore, the experts believe the FBR would continue to allow taxpayers to file their returns till the desired number is achieved.

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