ISLAMABAD: The Lahore Tax Bar Association (LTBA) has asked the Federal Board of Revenue’s (FBR) Member for Inland Revenue (Operations) to stop Chief Commissioners/ field formations from rejecting all applications filed by the major companies for extension in time for filing of annual returns.
According to a communication of the LTBA to the FBR Member here on Monday, it has been reported by the corporate sector that Large Tax Office (LTO), Lahore, has rejected all the applications for extension in time by companies for filing of annual returns without assigning any reason in a stereotypical manner without giving any opportunity of being heard.
This is a very sad situation as section 119 of the Income Tax Ordinance, 2001 clearly allows extension in time for filing of return on certain reasons. Even such cases where companies are before Lahore High Court against levy of super tax and tax on deemed income u/s 7E have also been rejected although the FBR has undertaken to extend time for filing of income tax return before the Lahore High Court. Even in some cases where statutory audit is pending the extensions have been rejected.
The LTBA added that all these companies are large taxpayers and have been contributing to the national exchequer and such treatment with such taxpayers is totally uncalled for especially when this was the first extension application filed. The FBR Member Operations is requested to intervene in the situation and direct the chief commissioners/field formation to entertain such applications, it added.
Copyright Business Recorder, 2023
Comments
Comments are closed.