Karachi: The deadline extension previously communicated by the Federal Board of Revenue (FBR) for filing income tax returns for the fiscal year 2018-19 is set to expire in three days (on November 30), according to a news source. As per the taxation agency, individuals who fail to file their tax returns will face legal consequences.
Previously, the FBR had granted several extensions to the taxpayers in order to facilitate these individuals in their tax payment efforts. The federal institution plans to increase the number of active taxpayers to four million by the year end.
Meanwhile, the Pakistan Tax Bar Association (PTBA) has urged the FBR to provide another extension in the deadline in order to assist one million individuals who have yet to file their income tax returns.
The PTBA recently sent a letter in which it urged the FBR chairman to facilitate the taxpayer and help them stay compliant by extending the deadline up to December 31.
The tax association revealed that 1.6 million returns were electronically filed and the overall number of returns had reached a record 2.65 million mark.
The initial deadline for filing the tax year 2019 returns was September 30 for salaried persons, businessmen, Association of Persons (AOPs) and companies having special tax year.
Hazafa reveres the art of writing and has been turned into a property enthusiast by profession. Her daily survival kit includes; tea, coffee, keyboard and paperbacks.
