The Federal Board of Revenue (FBR) is likely to grant 15 days extension in filing of income tax returns for Tax Year 2014. It is learnt on Wednesday that FBR is considering the proposal to extend date for filing of return in view of problems in E-FBR Portal and upcoming holidays on account of Muharram-ul-Haram. The FBR has received a number of requests for extension in filing of tax returns for tax year 2014.
Meanwhile, Javed Iqbal Qazi, Chairman Pakistan Tax Advisors Association, requested the government to extend the date of filing of Income Tax Returns/Wealth Statements for Tax Year 2014 up to December 31, 2014.
The last date for filing of income tax returns has been fixed as October 31, 2014.
"It is to bring to your kind notice that a number of income tax practitioners and chartered accountants have approached our Association expressing their inability to complete the task of submissions of returns of their clients by the fixed date. It is averred that in the first place the approved tax return forms were circulated quite late ie, by October 16, 2014. Secondly, the new forms envisage a number of complicated and cumbersome information which take a lot of time for the preparation of a single Return. It may also be appreciated that with the advent of Muharram-ul-Haram a number of taxpayers will be busy in observing their religious rites starting from last week of October, 2014 and all through November, 2014. Therefore, they will not be able to give their best to the job of submitting complete and accurate returns.
It is, therefore, requested that last date for filing of returns may very kindly be extended till 31st of December, 2014 enabling all the professionals and the Taxpayers to complete their task in a peaceful and smooth manner," he added.
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