Pakistan Tax Advisors Association (PTAA) has approached the Federal Board of Revenue (FBR) for extension in date for filing of income tax returns by the companies up to January 31, 2017. In a communication to the FBR here on Thursday, Chairman PTAA Javed Iqbal Qazi requested for extension in date for filing of returns of total income in the case of companies to January 31, 2017 instead of December 31, 2016.
It is requested to extend the last date in respect of companies to January 31, 2017 as all the tax practitioners/advocates/chartered accounts engaged in the profession of taxation are busy in the preparation of Returns of Individuals/AOP's, who have failed to submit their returns by 15.12.2016 while the accounts in respect of companies are under finalisation/audit. We also understand the target in respect of Individuals/AOP's has not been achieved for Tax Year 2016 even today by FBR. All the professionals are very much pre-occupied for the submission of returns since 30.09.2016 without any reasonable rest/gap. Also provide them some relief to finalise / prepare the returns of their clients for companies in a smooth & peaceful atmosphere. "However, we have requested the PTAA members to direct their clients to deposit the tax liability in respect of limited companies by 31.12.2016," Javed Iqbal Qazi added.