Lahore Tax Bar Association (LTBA) has demanded extending date for filing Income Tax Return of Tax Year 2015 up to December 31 and Wealth Tax up to March 31, 2016 in order to facilitate genuine taxpayers.
In a letter written to Federal board of Revenue Chairman Tariq Bajwa LTBA General Secretary Qamar Uz Zaman said that the Bar Members and taxpayers have faced numerous problems in filing returns due to which they failed to file their returns timely.
He added that FBR issued the last draft of Income Tax Return in first week and online system started functioning in third week of September, 2015 and still having functional problems whereas the Income Tax Ordinance 2001 has provided three months statutory time to file a return.
He said that for the first time the government has withdrawn concessions and exemptions on filing returns of wealth which is also a cause to delay in filing of returns.
On the other hand, administrative over-doings are also creating issues for the LTBA members, he said adding that most data entries in return and wealth statement are not editable while another reason for the delay in return filing is dialogue between FBR and traders Association.
Meanwhile, Progressive Group a representative platform of the traders & industrialists has also urged the Federal Finance Minister Muhammad Ishaq Dar, Federal Board of Revenue (FBR) Chairman Tariq Bajwa and others concerned to extend the date of filing of income tax returns by at least another month.
In a statement issued here the other day, Progressive Group President Khalid Usman and Secretary Information Muhammad Ejaz Tanveer said that traders were very busy in September because of the elections of their respective trade bodies and Eid holidays. October also remained very hectic because of bye-elections and on other accounts.
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