Karachi: The government has been asked to extend the deadline it issued to settle cases automatically selected for audit by the Federal Board of Revenue (FBR), a news source reported. Pakistan Tax Bar Association (PTBA) President Abdul Qadir Memon wrote a letter to Finance Minister Asad Umar, seeking an extension in the deadline till March 31.
In November, FBR had announced an automatic closure policy for over a million late filers of tax returns, and said they could avail the opportunity for automatic closure of audit by paying the penalty or higher tax than the previously-filed returns.
Late filers of returns for tax years 2015, 2016 and 2017 were selected for audit under Section 214-D of the Income Tax Ordinance. The board later notified the closure of all audits and waived the penalty for about 342,314 salaried individuals selected for automatic audit.
It exempted persons who had declared income under the head of salary with or without profit on debt and/or dividend from the payment of entire amount of penalty payable by them under section 214E of the Income Tax Ordinance.
