Tuesday , October 26 2021
Breaking News
Home / Breaking News / No extension in filing date of income tax returns: FBR
No extension in filing date of income tax returns: FBR

No extension in filing date of income tax returns: FBR

ISLAMABAD: The Federal Board of Revenue (FBR) clarified that it is not considering an extension in the date for filing annual income tax returns.

According to a statement by the FBR spokesperson, taxpayers should submit annual tax returns before September 30.

Responding to news regarding a supposed extension in the date, the spokesperson categorically denied this was the case, stating that no proposal in this regard has been considered at the FBR headquarters.

In an informal conversation with journalists, FBR spokesperson Asad Tahir said: “So far, 0.8 million people have filed their returns.”

He added that no strict action will be taken against traders but said that after 15 days, show-cause notices will be issued to traders who are not affiliated with Point of Sales (POS).

“Failure to install POS will result in a fine worth Rs500,000 after 15 days,” the spokesman said, adding that if traders apply POS in 15 days, the fine will be waived off.

Tahir further added that failure to install POS after a month will result in a fine worth Rs3 million. “Meanwhile, closing down businesses will be the last resort,” he added.

Earlier this month, the FBR advised all taxpayers required to file tax returns by September 30, 2021, to fulfil their legal obligation without waiting for the last date to avoid system delays which occur when a large number of taxpayers log in for submission of returns near the deadline.

FBR had clarified at the time that there will be no extension in the due date for filing income tax returns.