The Federal Board of Revenue (FBR) has extended date for filing of income tax returns up to October 20, 2007 to facilitate the taxpayers. Official Spokesman, FBR, Imran Ghaznavi said here on Sunday that the taxpayers, tax bars associations, chamber and various trade bodies had made representations for extension in filing of returns in view of Ramazan and some delays in submitting revised returns.
The matter has been considered in the board and it has been decided that no penalty will be imposed in cases where the returns due on September 30, are filed on or before October 20, Imran added.
Meanwhile, sources told Business Recorder that the board has so far received 14, 1.645 million income tax returns against 1.306 million returns last year. The figure has been compiled based on income tax returns filled till 11 pm. The tax offices in the field formations remained busy throughout the day for collecting returns from different categories of taxpayers.
The board is likely to issue provisional revenue collection and latest data of returns and amount collected on Monday (today).
The aggressive media campaign and an effective communication strategy have played an important role for encouraging taxpayers in filing of income tax returns and statements. Taxpayers have highly appreciated the waiver of penalty on last date for filing of returns under Income Tax Ordinance 2001 up to October 20.