ISLAMABAD (September 23 2003): As no trade association, chamber and bar association has demanded extension in the date of income tax returns filing, the Central Board of Revenue (CBR) would not extend the date beyond September 30.
CBR Member Direct Taxes and spokesman Vakil Ahmed Khan told Business Recorder here on Monday that there is no reason to extend the date. Moreover, all necessary arrangements have been made to process the returns in time as not a single association has requested for any extension, he said.
The CBR would not impose penalty in case of genuine late filing, as the taxpayers can approach Deputy Commissioner of Income Tax (DCIT) for extension in the time period for filing of return, as per law.
Vakil said that extension in the date filing of return is not an easy task as it disturbs the whole system including data entry mechanism.
Member Direct Taxes added that all income tax returns would be accepted under Universal Self-Assessment Scheme (USAS).
