LAHORE: Pakistan Tax Bar Association (PTBA) has sought extension in fling of returns of income for tax year 2020 till 31st January 2021. PTBA in a letter written to Federal Board of Revenue (FBR) chairman Javed Ghani said that at the very outset, PTBA appreciates the initiative taken by the FBR for extension in date of filing of return till 8h December 2020 while giving clear 90 days as requested by the Pakistan Tax Bar Association vide letter dated 26 September 2020.
Pakistan Tax Bar Association congratulates to your good-self as well as all the officials of FBR for achieving the target till FBA is also hopeful that the FBR will not only November 2020. achieve their targets set for tax year 2021 but also achieve their ultimate goal of trust development between FBR and Taxpayers while collecting due taxes from taxpayers.
“You are well aware of the fact that 2 wave of coViD-19 emerged in the country which is much dangerous as compared to t wave asper National Command & Operation Centre (NCOC) Pakistan” the letter said.
It is pertinent to mention here that several areas of the county are under lockdown / smart lockdown and micro lockdown due to the COVID situation.
Moreover, as per instructions of the FBR 50% strength of the employees is working in this situation which also strengthens our contention that generally the people and particularly the taxpayers are facing hardship during the current situation of COVID.
It is worth to mention here that normal life / normal business activities are not going on due to the COVID situation which can be evaluated from the fact that even the Government of India has further extended time for filing of returns till 3” January2021 from the original due date i.e. 31 July 2020. Thus, timely filing of returns of income for tax year 2020, in this situation, is not possible.
Apart from the above situation, we would like to draw your attention towards the issues being faced by the taxpayers in general and by the tax consultants in particular regarding minim in tax liability wrongly calculated by the system while filing income tax returns for tax year 2020. Moreover, the other issues like tax calculation of Behbood saving certificates profit etc. is also required to be deployed correctly in the system. PTBA has already pointed out in writing the issue in detail through letter dated 13 November 2020. Unfortunately, till date the issue pertaining to calculation of minimum tax liability by the system is persistent and not resolved which needs your special attention.
You are also well aware of the fact that single pager return of income for manufacturers having turnover less than 50 million, was introduced by the FBR on 26 November 2020 through notification / SRO 1261(1)/2020.
It is not understandable that how the manufacturers having less than 50 million turnover, can file their returns within available time left i.e. 12 days which is humanly impossible. In the light of the facts discussed above, we request your goodself to allow provide 60 days further time for filing of income tax returns by the taxpayers.
Moreover, timely decision taken in this regard by your goodself, would be appreciated by the genuine taxpayers / tax consultants, who are working hard for contributing towards national exchequer.
Hopefully, our request would succeed and time / date for fling of returns of income for tax year 2020 would be extended till 31January 2021 as the PTBA alongwith affiliated tax bars of the country, as a part & parcel of the FBR are working hard for contributing towards national exchequer through filing of return.