Tax payment date extended up to November 21

Taking a major step to facilitate business and trade, the Federal Board of Revenue has allowed taxpayers to pay tax along with their income tax returns up to November 21, 2011. Sources told Business Recorder here on Thursday the FBR will issue an income tax circular here on Friday (November 4) to encourage taxpayers to discharge their income tax liability along with the submission of returns.
On the request of the tax bar associations, chambers and trade bodies, the FBR has extended the date for payment of taxes up to November 21, 2011 which is also last date for filing of income tax returns. The detailed procedure on the payment of tax up to November 21 would be explained in the income tax circular on Friday.
According to sources, taxpayers including business individuals, salaried persons, Association of Persons (AOPs) and companies, who would make tax payments up to November 21, 2011 will not be liable to pay fine and penalty under the Income Tax Ordinance 2001. Previously, the FBR has extended the date for filing income tax returns up to November 21, 2011 subject to the condition that the return filers had paid the due amount of tax up to October 31.