FBR income tax returns date 2021. The Federal Board of Revenue (FBR) on Thursday extended the date for filing income tax returns for individuals and companies till October 15, 2021.
FBR extends tax return filing date
Earlier, the FBR had said it would not extend the deadline for those wishing to file income tax returns. However, the board has extended the deadline for filing income tax returns, citing technical issues facing tax filers due to business community demand and server glitches. According to Papersads.com, Finance Minister (Shaukat Tareen) decided to extend the date considering the constant demands of the business community. The tax collector had received several requests for extension of the deadline for filing income tax returns.
The Karachi Chamber of Commerce & Industry (KCCI) has confirmed that the Finance Minister has given 15 days extension to the public and traders to file tax returns. The business delegation highlighted the problems faced by the taxpayers and also expressed their concerns regarding other taxes.KCCI members called for amendments to ineffective tax policies and expressed concern over the implementation of the Tax Laws (Third Amendment) Ordinance 2021. He lamented that all the laws that impose fines always start from Karachi.
The delegation suggested that the term “under-filers” be changed to “non-filers” in the ordinance. Earlier, FBR officials had directed the concerned commissioners to co-operate with the filers for the extension, sources said. The FBR had said that those seeking 15 days of relief would have to either apply or apply online. The sources added that in addition to those facing difficulties, the deadline would also be extended to those facing technical problems.
Govt extends income tax return filing deadline
After hearing the problems faced by taxpayers in submitting income tax returns by a delegation of Karachi Chamber of Commerce and Industry at a meeting in Islamabad on Thursday, Federal Minister for Finance and Revenue (FBR) Shaukat Tareen extended the extension. Announced Deadline for filing is 15 days until October 15.
FBR extends tax return filing date till Oct 15
Why always Karachi? The members of the delegation stressed the need to amend the ineffective tax policies and expressed deep reservations over the implementation of the Tax Laws (Third Amendment) Ordinance 2021, which they feared would start from Karachi as observed from time to time. That is, all such penal laws always start in the port city and are mostly confined to the city.
If Karachi has to pay all taxes and also has to pay fines, then why was Karachi not getting development funds in proportion to its contribution? -Filers ” The delegation also included Vice Chairman BMG Haroon Farooqi and Javed Balwani, General Secretary AQ Khalil and KCCI President Muhammad Idrees. Earlier, the business community demanded extension of the deadline for filing income tax returns and withdrawal of surcharge on late filers.
In a statement on Tuesday, Federation of Pakistan Chambers of Commerce and Industry President Mian Nasir Hayat Mago requested the FBR to extend the deadline for filing income tax returns by two months. He said it would facilitate the business community and support the government’s vision to expand the tax base and increase revenue collection.
Citing figures from small and medium-sized businesses run by the chamber, he said thousands of small business owners would not be able to file their taxes until Thursday. The official criticized that the FBR has reported a daily surcharge of 0.1% on taxable income for late filing, which is not only strict but also unworkable as its translation is 3% per month and 36% per annum. happens.” The maximum KIBOR deposit by the FBR should not exceed 2%.