KTBA for extending date for e-filing of IT returns

Karachi Tax Bar Association (KTBA) has requested the Federal Board of Revenue (FBR) to extend the last date of e-filing of income tax returns. In a letter sent to the chairman FBR, president KTBA Rehan Siddiqui, said that only 58 days have been allowed between September 2nd and October 31, 2019 against the legal and permissible time period for filing the return of income of 90 days under Section 118 of the Ordinance and urged the FBR to allow 32 more days for the purpose.

Moreover, he said that the fate of the filers of the Assets Declaration Scheme of 2019 who could not submit their declarations due to untimely closure of the option on IRIS was still uncertain. Consequently, they could not revise their wealth statements for the Tax Year 2018, which is a necessary component for filing the return of income for the Tax Year 2019.

He apprehended that if they were not allowed to submit their declarations in the last four months, their right to timely file their returns of income for the Tax Year 2019 would systematically be jeopardized as well.

He said that Bar was very much cognizant of the FBR's campaign to increase the number of tax filers and compliant taxpayers in the country to proportionately increase the much needed tax revenue. The KTBA was keen to render its due role as an association, he added.

Taking stock of whole of situation, however, it can conveniently be drawn that unless and until the concerns are addressed, not less than two thirds of the population of the taxpayers of the country will turn to non-filers or "not appear on the ATL", which merely would further add to their woes. Therefore, he requested the chairman FBR to consider the most viable option by granting the legal extension available under the Ordinance.