The Central Board of Revenue (CBR) has decided to accept income tax returns for 'tax year 2005' without imposition of penalty up to October 31, 2005.
The CBR has also allowed the withholding tax agents to deposit the statements for the quarter ended on September 30, 2005 up to October 31, 2005.
The CBR on Saturday issued instructions to all Regional Commissioners of Income Tax (RCITs), Directors-General, Large Taxpayer Unit (LTU), Karachi/Lahore to implement these decisions.
The directive said that the CBR had observed that a large number of taxpayers were preoccupied because of their active engagement in relief work to alleviate problems arising in consequence of earthquake disaster.
Therefore, no penal action may be taken against the taxpayers, who have not yet been able to file returns of income, if the same are filed by October 31, 2005.
In another directive, the CBR has informed the regional offices that the 'Quarterly Statements' as prescribed under SRO 641 of June 27, 2005, for the period ending on September 30, 2005 was due on October 15, 2005.
It had been represented to the Board that people were mostly engaged in relief work after the earthquake disaster and most of them may not have been able to file their statements to-date. The CBR examined the issue in view of the hardship face by the nation.
To facilitate the withholding tax agents, it has been decided that statements for the quarter ended on September 30, 2005 may be accepted up to October 31, 2005 without drawing any adverse inference.
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