PTBA Demands 2-Month Extension for Filing Income Tax Returns 2020

Pakistan Tax Bar Association (PTBA) has demanded the tax authorities to extend the date for filing income tax returns for two months (60 days) considering resurgence of coronavirus, calculation errors on IRIS portal and newly launched simple return form for small manufacturers.

It is necessary to mention here that the FBR had already extended the date from September 30, 2020 to December 08, 2020. PTBA stated that several areas of the country were under lockdown/smart lockdown and micro lockdown due to the latest situation. Other than that, FBR has also instructed its field offices to reduce the staff strength to half to prevent the spread of the pandemic.

Apart from the COVID situation, PTBA also highlighted the situation of wrong calculation of minimum tax on the IRIS portal at the time of filing income tax return. Moreover, other issues like tax calculation of Behbood Saving Certificates, profits etc. are also required to be deployed correctly in the system. Previously, PTBA on November 13, 2020 communicated with the FBR on such issues. The tax bar said that the issues pertaining to calculation of minimum tax liability by the system are persistent and not resolved.

Considering these extraordinary circumstances due to COVID, calculation errors on IRIS and newly introduced income tax return form, the PTBA demanded the FBR to extend the last date for filing the income tax returns for further 60 days or up to January 31, 2021.