Islamabad: The Federal Board of Revenue (FBR) has granted a one-month extension on the deadline for filing income tax returns, from September 30 to October 31 – a news source reported.
According to a notification issued by the board on Monday night, the FBR has extended the deadline up to October 31, 2019 for filing of income tax returns for individual as well as association of persons.
The companies that have paid ninety five percent of admitted tax liability, but were unable to submit the required income tax returns/statements, have also been allowed to file their returns by October 31, 2019.
According to FBR Chairman Shabbar Zaidi, the board has managed to provisionally collect PKR 960 billion in the first quarter of the current fiscal year, against the target of PKR 1,071 billion projected for this period.
He also expected a more positive adjustment to happen. He further said it was a good sign that tax collection of up to 90% has been achieved against a highly aggressive target for the quarter that ended on September 30.
