KCCI requests 1-month extension for income tax returns deadline

September 26, 2024 (MLN): Karachi Chamber of Commerce and Industry (KCCI) President Iftikhar Ahmed Sheikh has requested the Federal Board of Revenue (FBR) to extend the last date for filing income tax returns by one month till October 31, 2024 so that More taxpayers can file their returns.

In a statement, President KCCI said that the majority of the business community was engaged in the activities of the elections of the Chamber of Commerce and other commercial organizations throughout Pakistan during September.

Therefore, they are unable to complete all the mandatory documents required for submission of income tax returns. As the last date is ending on 30 September 2024, the last date for filing FBR income tax return should be extended by one more month.

He further said that on Wednesday several members of the Karachi Chamber complained that the IRIS portal for filing income tax returns went down in the morning hours and the portal remained accessible despite being somewhat accessible.

Due to this, the taxpayers were frustrated as they were unable to update their data in the IRIS portal.

Every year, whenever the deadline for filing returns approaches, KCCI starts receiving complaints of malfunctions and delays, which need to be addressed by increasing the capacity of the IRIS system.

He said that on the one hand, FBR is announcing strict restrictions on the figures but on the other hand the tax collection authority is not focusing on improving the efficiency and capacity of the IRIS system which needs to be improved. 

The system will have to be simplified to such an extent that taxpayers can file their returns themselves instead of hiring a tax consultant to do the job, which incurs an additional cost.

Complicated procedures are one of the main reasons that discourage people from becoming figure skaters.

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