BAFL 45.10 Increased By ▲ 0.05 (0.11%)
BIPL 20.20 Decreased By ▼ -0.31 (-1.51%)
BOP 5.48 Decreased By ▼ -0.16 (-2.84%)
CNERGY 4.53 Decreased By ▼ -0.02 (-0.44%)
DFML 15.76 Increased By ▲ 0.06 (0.38%)
DGKC 73.48 Increased By ▲ 2.27 (3.19%)
FABL 27.35 Decreased By ▼ -0.05 (-0.18%)
FCCL 17.65 Increased By ▲ 0.50 (2.92%)
FFL 9.05 Increased By ▲ 0.50 (5.85%)
GGL 12.60 Decreased By ▼ -0.07 (-0.55%)
HBL 111.25 Decreased By ▼ -1.45 (-1.29%)
HUBC 121.65 Increased By ▲ 2.54 (2.13%)
HUMNL 7.32 Decreased By ▼ -0.28 (-3.68%)
KEL 3.28 Increased By ▲ 0.01 (0.31%)
LOTCHEM 27.75 Decreased By ▼ -0.10 (-0.36%)
MLCF 39.42 Increased By ▲ 0.34 (0.87%)
OGDC 108.30 Decreased By ▼ -0.01 (-0.01%)
PAEL 17.60 Decreased By ▼ -0.15 (-0.85%)
PIBTL 5.48 Decreased By ▼ -0.08 (-1.44%)
PIOC 107.89 Increased By ▲ 1.89 (1.78%)
PPL 92.60 Increased By ▲ 0.10 (0.11%)
PRL 25.06 Decreased By ▼ -0.28 (-1.1%)
SILK 1.07 No Change ▼ 0.00 (0%)
SNGP 63.43 Decreased By ▼ -0.29 (-0.46%)
SSGC 11.85 Decreased By ▼ -0.15 (-1.25%)
TELE 8.25 Decreased By ▼ -0.21 (-2.48%)
TPLP 13.14 Decreased By ▼ -0.20 (-1.5%)
TRG 82.88 Decreased By ▼ -2.52 (-2.95%)
UNITY 25.93 Decreased By ▼ -0.03 (-0.12%)
WTL 1.52 Decreased By ▼ -0.02 (-1.3%)
BR100 6,181 Decreased By -5.3 (-0.09%)
BR30 21,530 Increased By 70.5 (0.33%)
KSE100 60,531 Increased By 29.3 (0.05%)
KSE30 20,188 Increased By 13 (0.06%)

ISLAMABAD: The Federal Board of Revenue (FBR) may grant a one-month extension in filing of income tax return forms, it is reliably learnt.

Contrary to this, the FBR Thursday officially announced no extension in the last date for filing income tax returns beyond September 30, 2023.

According to a tweet of the FBR on Thursday, since the last date of filing of returns is not being extended, FBR directs all Inland Revenue Commissioners to facilitate taxpayers in filing Returns and granting extension on case by case basis, it added.

IRIS system’s capacity enhanced: Up to 0.6m taxpayers to file tax returns on a daily basis

Sources told Business Recorder that there is a substantial increase of 15 percent in the number of return filers till September 28 when compared with the same period of last September 28, 2022. The number of return filers would further increase during the last two days of return filing i.e. Sep 29 and 30th.

In a communication to the FBR Chairman on Thursday, Pakistan Tax Bar Association stated that the taxpayers be provided the statutory period of clear 90 days for submission of their income tax returns from the day, when the complete return forms and portal is error-free.

The PTBA has already pointed out various technical and practical issues in the IRIS-2.0 since its launch and the time of launch of new software at the time of filing of Income Tax Returns appears to be failure of policy and question mark on the decision making on the part of FBR and also created certain type of illegal restrictions in the Income Tax Returns for Tax Year 2023 and we also endorse the stand/opinion/observations about the system highlighted by regional affiliated bars.

However, as far as filing of Income Tax Return is concerned, tax machinery has miserably failed in facilitating the taxpayers as well as legal fraternity by providing error free, smooth, efficient, user-friendly, flawless and hassle free tax return forms till to-date.

It said that the new IRIS module-2.0 is continuously appearing calculation and frequently encounter data saving problem and most of the time buttons shows unresponsiveness and due to this reason lost the data entered, which will also increase the risk of error and mistakes and taxpayers and tax consultants are experiencing/facing everyday a new glitch which is annoying and badly effecting the timely submission of the return forms.

The IRIS module 2.0 has also handicapped the complaint non-resident persons, who are not required to file wealth statements under section 116 of the Income Tax Ordinance 2001. But after selecting the status of non-resident in attribute tab, new IRIS module still opens the wealth statement along with the complete data submitted last year, which is illegal and without lawful authority.

The new IRIS module 2.0 is wrongly showing and calculating turnover tax @ 1.50 percent instead of 1.25 percent in simplified return for manufacturer for individual/Association of persons having annual turnover up to Rs 50 million income tax under section 113 of the Income Tax Ordinance 2001 for the tax year 2023. The new IRIS module 2.0 is wrongly calculating zero-tax where holding period is 3-4 years against the gain on sales of immovable properties.

The new IRIS portal is missing the data and showing incomplete data on downloading from the MIS tabs under various types of tax deductions at source under various sections of the Income Tax Ordinance 2001 and have not properly synchronized with the Maloomat portal.

The challan generation of withholding income tax is still in old system, which is very slow and time consuming, it’s the need of the hour to provide the facility of generation all type of challans in the IRIS e-portal to save the precious time and facilitation, the PTBA added.

Copyright Business Recorder, 2023

Also read:


Comments are closed.

Hamid Sep 29, 2023 10:15pm
IRS app also wrongly calculates income tax for pensioners, while in fact pensioners are exempted from paying income tax.
thumb_up Recommended (0)
Muhammad Yousaf Sep 30, 2023 01:17am
Not calculation profit on debt exceed 5 million. Calculation tab in other revenue but IRIS write to move this amount in final taxation tab less than 5 million. Neither taken this amount in other revenue nor in final taxation tab
thumb_up Recommended (0)
advocate haresh kumar Sep 30, 2023 03:11am
thumb_up Recommended (0)
Zain Sep 30, 2023 01:19pm
IRIS not have single definition of column which is the most easiest to implement in HTML. For example how easy it is if 236k opens the small window upon clicking and provides the definition with example in simple words. Second there are many calculations which can be automate but we have to enter manually like total of Fixed and Final & the taxes column in expenses. The 2.0 version is only a new look, backed is still old and rusty. FBR should hire experienced devs.
thumb_up Recommended (0)
Nasir Sep 30, 2023 09:57pm
Yes the tax deadline should be extended due to technical issues in the updated iris software version 2.0 and in wake of banking holidays at the end of sep 2023, due to which payment statement could not be it is request to enhance the xeadline atleast for 15 days for employees and 30 days for vendors/companies.thanks
thumb_up Recommended (0)

Tax return filing deadline likely to be extended by 1 month

Intra-day update: rupee records marginal gain against US dollar

Open market: rupee strengthens against US dollar

Long wait for freedom: Afghan refugees in limbo in Pakistan

Israel and Hamas agree to extend temporary truce

Oil inches up, all eyes on OPEC+ meeting outcome

FCCL commissions Greenfield Cement Manufacturing Plant in Punjab

Henry Kissinger, singular US diplomat, dead at 100

Kuwait deals to add to inward FDI flows

Operation of SRO about additional tax on banks’ windfall income suspended

FBR resolves Sino-Pak ‘trade gap’ issue