31 October 2019: last date of income tax return filing. Read this article to know what difficulties will have to face to those who have not submit the income tax return.
The FBR will launch raids and those who fail to file returns will be fined Rs40,000.
The Pakistan Tax Bar Association has requested the FBR to extend the deadline for filing income tax declarations by December 31.
The deadline given by the Federal Board of Revenue (FBR) for filing the income tax declaration will end today, October 31, after which the board will start raiding and impose a fine of Rs40,000 on these persons. Who failed to submit returns?
Earlier, the FBR had extended the date of submission of income tax declarations / statements for individuals and the Association of Persons for the tax year 2019 till October 31, 2019. However, the Pakistan Tax Bar Association (The PTBA) has now appealed to the FBR to extend the date of filing of the Income Tax Declaration by December 31 as the filing of approximately 1.6 million returns cannot be made by October 31.
In a letter sent to FBR chairman Syed Shabbar Zaidi, the PTBA said only 918,027 annual returns were filed by October 25, which is closer to 65 percent than the tax filed in 2018. ۔
It states that the return form of the 2019 draft was uploaded by SRO 951 on August 23, and the last return was uploaded to the IRIS on September 2 via SRO 979, Which reveals the expiry of a legal period of two months and the shift of all the burden on the FBR. The manual return of income forms for 2019 was issued on September 27th through SRO 1160, so small-scale taxpayers can submit their income statement for 2019 in a stipulated time.
Further, the current political situation also causes difficulties in filing returns 2019. Therefore, it is requested that the deadline for filing income tax declarations be extended by December 31, 2019.