FBR extends tax deadline amid misunderstanding

Islamabad: News sources said that on Tuesday (September 27), the Federal Board of Revenue (FBR) said that it would extend the deadline for taxpayers who were unhappy with tax clause 7E, which has to do with immovable property tax.

The FBR made this announcement in front of the Lahore High Court (LHC) during a hearing about a dispute over the legality of Section 7E (tax on deemed income) of the Income Tax Ordinance, 2001, which was added by the Finance Act, 2022. In a written response to the LHC, the FBR said that the authority will extend the deadline for taxpayers who are having trouble with this specific paragraph and solve the problem. But the extension won’t be for everyone. For other taxpayers, the deadline will still be September 30.

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It is important to remember that the FBR has set the deadline for filing income tax returns as September 30. So far, the government hasn’t shown any signs of wanting to give people more time. But large tax groups and chambers of commerce from all over the country have asked the FBR to extend the deadline, saying that floods are to blame.