
The Pakistan Tax Bar Association (PTBA) on Wednesday requested the Federal Board of Revenue (FBR) for an extension in the deadline for filing tax returns to October 30.
PTBA President Anwar Kashif Mumtaz urged that the FBR “should extend the deadline for submitting returns.”
Mumtaz said that the aim is to increase the tax net, giving time for the notices sent on assets and expenses to be effective.
Earlier on September 30, the FBR announced a 15-day extension — date set to October 15 — for filing income tax returns, providing taxpayers with additional time to comply.
The PTBA expects the finance minister to grant extension to ease the burden on taxpayers and help them avoid legal or financial penalties.
How to file income tax return in Pakistan
The FBR offers an easy-to-access online filing system named the Integrated Revenue Information System (IRIS) portal.
- Gather all the required documents.
- Log in to the IRIS portal.
- Prepare your tax return.
- Submit your return.
How to calculate income tax?
If you’re eligible to file taxes and seeking to calculate tax on income, Gadinsider has got you an easy-to-use calculator which helps you determine your tax. By simply inputting your income, you will know the exact amount of tax to be deducted from your income.