Tax return filing time extended until Nov 30
FE Report | Monday, 3 November 2014
The National Board of Revenue (NBR) has extended the time for submission of individuals' tax returns by another month, until November 30 next following requests of taxpayers.
The deadline was scheduled to expire Sunday (November 2).
The board issued an order Sunday allowing individual taxpayers another month to submit their tax returns.
In a press release, NBR senior information officer Syed A Momen said different trade associations and professionals requested the NBR to extend the time for filing income tax returns.
They could not arrange necessary documents for submission of tax returns due to holidays on the occasion of Hajj, Eid-ul-Azha, Durga Puja and closure of offices for various other reasons.
"The NBR has extended the deadline further to facilitate the taxpayers to submit returns," it said.
The NBR, however, made it clear that the time would not be extended further, under any circumstances.
The first deadline was September 30 which the NBR extended until November 2 in the first phase and now it has been stretched to November 30, 2014.
Tax officials noticed a poor submission of tax returns in the current FY. They said only half of the existing taxpayers have submitted their tax returns so far.
The board is yet to compile the data on actual number of tax returns from the tax zones across the country until Sunday.
Taxmen also found some 7,00,000 existing taxpayers yet to register themselves with the new online TIN (e-Taxpayers Identification Number) system.
The NBR introduced e-TIN system from the last fiscal year. After cleansing TIN database, the taxmen found 1.7 million valid TIN out of 3.4 million TINs.
Almost every year, the government extends time for individuals' tax returns. Last year, the board extended the time by three months.
In 2012, the time was extended by 45 days while by a month in 2011, by 7 days in 2010, by 42 days in 2009 and 2008 respectively.
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