The Rawalpindi-Islamabad Tax Bar Association has written a letter to Prime Minister (PM) Shehbaz Sharif, Finance Minister Muhammad Aurangzeb, and Federal Board of Revenue (FBR) Chairman, requesting an extension for filing tax returns until October 31.
They stated that the 15-day extension includes four public holidays, which would reduce working days, causing difficulties for taxpayers and increasing pressure on the IRIS system.
The letter warned that a shorter extension could lead to a rise in empty returns being submitted, placing unnecessary strain on the tax system.
A 30-day extension would allow taxpayers to file returns more easily.
Meanwhile, All Pakistan Traders Association President Ajmal Baloch also urged the FBR to extend the tax filing deadline, citing economic difficulties.
He stated that traders are facing challenges in paying taxes and require more time, as the FBR’s system is currently unable to process returns efficiently.
FBR is likely to extend the deadline for the submission of tax returns following the meeting of Chief of Army Staff (COAS) General Asim Munir with the business community in Karachi.
Read more: Punjab approves purchase of luxury vehicles for parliamentary secretaries
What will happen if you do not pay your income tax on time?
Failure to pay tax payable on due date will attract penalty or default surcharge or both.
Failure to make payment on your tax dues is an offence punishable on conviction with a fine or imprisonment for a term not exceeding one year or both.
Deadline to pay your income tax
Income tax return filing deadline will end at midnight today (Monday).
