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Income Tax returns date extended to October 11

ISLAMABAD (October 02 2003): As increasing number of taxpayers are willing to file returns under Universal Self Assessment Scheme (USAS), the Central Board of Revenue (CBR) has extended the date for filing date up to October 11, without levying any penalty.

Salaried persons may also file their income tax returns till October 11 even if their tax has been deducted at source, CBR added.

Member, Direct Taxes and spokesman CBR, Vakil Ahmed Khan, said here on Wednesday that the taxpayers have deposited over Rs 1.6 billion as income tax up to September 30 under USAS against Rs 1.7 billion collected by October 31 last year.

The CBR has received much higher amount on account of income tax through USAS against last year as the amount of Rs 1.6 billion is up to September 30, but last year's amount of Rs 1.7 billion was up to October 31.

Thus, CBR has collected more amount in less time.

The CBR would take at least three months to analyse the data of tax returns with the Income Tax Tracking System (ITIT) and information collected through other sources including tax survey.

This is for the first time that Pakistan Revenue Automation Limited (PRAL) will match/enter information on large-scale basis.

The data would be electronically matched with the information collected through various sources to detect non-filers and un-registered persons with huge annual turnover.

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