Islamabad: The Federal Board of Revenue (FBR) announced on Tuesday (September 27) that it would extend the deadline for taxpayers aggrieved by tax clause 7E relating to immovable property tax, news sources reported.
The FBR made the said announcement before the Lahore High Court (LHC) during a hearing regarding the dispute over the legitimacy of Section 7E (tax on deemed income) of the Income Tax Ordinance, 2001, which was introduced by the Finance Act, 2022. In a written response to the LHC, the FBR stated that the authority will extend the deadline for taxpayers who are having issues with this specific paragraph and resolve the issue. However, the extension will not be general, and the deadline for other taxpayers will remain on September 30.
It is important to recall that the FBR has established September 30 as the deadline for filing income tax returns. So far, the authorities have not shown an inclination to extend the deadline for citizens. However, large tax organizations and chambers of commerce from around the country have petitioned the FBR to extend the deadline, citing floods as the reason.
Nauman Ahmad is an imaginative Pisces whose love for literature and nature is unparalleled. When he's not reading or hiking, he's sleeping and eating, which gives him plenty of energy for his next adventure.
