Islamabad: Tax bar associations, chartered accountant firms, tax advisers, and tax experts have requested the Federal Board of Revenue (FBR) to extend the deadline for filing income tax returns, a news source reported on September 25.
As per the details, the tax experts, tax bar associations, tax advisers, and chartered accountant firms have urged the FBR to increase the deadline to October 31. This extension is being sought due to technical and legal issues that have arisen in the current filing process.
One of the key technical issues that taxpayers have encountered is related to system errors when filing income tax returns and wealth statements. The Karachi Tax Bar Association has highlighted a significant glitch in the IRIS system, which prevents taxpayers from responding to notices issued by IR Officers (IROs) following modifications of appeal orders by the Inland Revenue-Appeals (CIR-A). Commissioner This limitation within the IRIS 2.0 system has caused considerable inconvenience.
Additionally, taxpayers have faced the sudden disappearance of data from the previous year’s wealth statements in the current year’s statements, leading to unprecedented hardships. As per Section 118 of the law, individuals, Associations of Persons, and companies with specific fiscal years are required to file tax year (TY) 2023 returns on or before September 30, 2023. However, since September 30, 2023, falls on a Saturday, which is a public holiday, the due date would be Monday, October 2, 2023, in accordance with the General Clauses Act.
To avoid default surcharges, penalties, and notices, taxpayers are advised to submit their Income Tax Returns as soon as possible by the original deadline of September 30, 2023, despite the FBR’s SMS messages indicating no extensions.
Iqra holds BS in International Relations and is passionate about writing engaging content on trending real estate topics. When not working, she is either spending time with family, shopping, or discussing shows & movies.
