FM announces 15 days extension in Income Tax Returns

September 30, 2021: After listening to the problems being faced by taxpayers in filing income tax returns, which were highlighted by a delegation of the Karachi Chamber of Commerce & Industry at a meeting held in Islamabad on Thursday, the Federal Minister for Finance & Revenue (FBR) Shaukat Tarin announced to extend the last date for filing income tax returns by 15 days till October 15, 2021.

KCCI delegation, which was led by Chairman Businessmen Group & Former President KCCI Zubair Motiwala, comprised of Vice Chairman BMG Haroon Farooki & Jawed Bilwani, General Secretary BMG AQ Khalil, and President KCCI Muhammad Idrees who appreciated the finance minister for understanding the hardships being faced by taxpayers in filing the income tax return and accordingly announcing relief.

The delegation members, while underscoring the need to modify the ineffective taxation policies, expressed deep concerns over the implementation of Tax Laws (Third Amendment) Ordinance 2021 which, they feared, would start from Karachi as it has been observed from time to time that all such laws carrying penalties always start from Karachi and stay confined mostly to this city only.

If Karachi has to pay all the taxes and suffer penalties as well then why Karachi was not receiving development funds in proportion to its contribution, they asked and reiterated KCCI’s demand to replace the term ‘under-filers’ in the controversial ordinance with non-filers.

Press Release