Chief Commissioner IR empowered to extend date for filing income tax return

fbr

ISLAMABAD: Federal Board of Revenue (FBR) has explained the important changes to Income Tax Ordinance, 2001 through Finance Act, 2017 and said that chief commissioner of Inland Revenue has been empowered to allow extension in filing of income tax return.
In Income Tax Circular No. 04 of 2017 issued on September 06, 2017, the FBR explained Section 119 of Income Tax Ordinance, 2001 regarding extension in time for furnishing of returns and other documents by chief commissioner.
The FBR said that prior to the Finance Act, 2017 taxpayers had no remedy or legal recourse in case the concerned Commissioner did not entertain an application made by a taxpayer for extension or further extension in time for filing of income tax return, statement of final taxation or wealth statement.
Amendment has been in sub-section (4) of section 119 of the Ordinance through the Finance Act, 2017 whereby the concerned Chief Commissioner has been empowered to grant extension or further extension to a taxpayer for filing of income tax return, statement of final taxation or wealth statement for a maximum period of fifteen days.
The Chief Commissioner has also been authorized to grant such extension or further extension for a period exceeding fifteen days in case there are exceptional circumstances justifying a longer extension of time.

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