NBR mulls extending tax return submission deadline by 15 days
Previously, the revenue authority had extended the deadline twice, with the latest extension ending on 31 January
The National Board of Revenue (NBR) is planning to extend the deadline for individual income tax return submissions by 15 more days until 15 February due to the slower-than-expected pace of submissions and requests from tax lawyers, according to NBR sources.
Previously, the revenue authority had extended the deadline twice, with the latest extension ending on 31 January.
A senior NBR official, speaking to The Business Standard on condition of anonymity, said, "There is a possibility of extending the deadline by 15 days, but the decision has not been finalised yet."
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Another NBR official seeking anonymity told TBS that tax lawyers have requested an extension, but the final decision will be made after receiving approval from the finance adviser.
The official also noted that in the fiscal year 2023-24, over 40 lakh tax returns were submitted by individual taxpayers.
"As of 27 January, more than 34 lakh returns have already been submitted, and we expect this number to reach 50 lakh by the end of June," the official added.
Last year, around 5 lakh taxpayers filed their returns online, a number that has already exceeded 12 lakh as of 27 January, according to the official.
