MABAD - The Federal Board of Revenue (FBR) on Friday has extended the due dates of filing Income Tax returns for the tax year 2011 and payment of Sales Tax and Federal Excise Duty (FED) returns for the period July 2011.
FBR has issued separate notifications in this regard on Friday. According to an official of FBR, the tax department has extended to entertain the taxpayers, especially belonging to Karachi, as due to poor law and order situation in the city and Eid holydays it was essential to extend the due date.
In a notification issued here today, the Inland Revenue Wing (IRW) of the FBR, has announced the extension in the dates including for filing of Returns of Total Income / Statements of Final Taxation that were due on 31st of August 2011, the date has been extended up to 30th September, 2011. Similarly, for filing of Returns of Total Income / Statements of Final Taxation that were due on 30th of September 2011, the date has been extended up to 31st of October 2011. This extension has been given in exercise of the powers conferred under section 214A of the Income Tax Ordinance, 2011.
In another development, in a letter issued here, the Inland Revenue Wing of the FBR has communicated to the all Chief Commissioners of LTUs and RTOs that the date for payment of taxes / duty has been extended upto 30th August, 2011 while the date for filing of Sales Tax / Federal Excise Duty returns has been extended up to 10th September, 2011. This extension of date is for the Tax period July 2011, and is applicable to all registered persons.
This extension has been given in exercise of the powers conferred under section 74 of the Sales Tax Act 1990 and section 43 of the Federal Excise Act 2005.
It is worth mentioning here that Directorate General of Intelligence and Investigation, Inland Revenue (IR) has estimated a major increase of 25-30 per cent in the income tax return filers covering shopkeepers/retailers in September 2011.