The deadline for individual taxpayers to submit their income tax returns is set to expire on March 31. The deadline has already been extended three times this year, and there is little likelihood of any further extension.
According to the Public Relations Wing of the National Board of Revenue (NBR), around 4.1 million taxpayers have submitted their income tax returns so far. Meanwhile, nearly 5 million taxpayers have registered in the NBR’s e-return system. Currently, there are approximately 12 million Tax Identification Number (TIN) holders in the country.
Individual taxpayers can submit their income tax returns by March 31, declaring their annual income and expenditures. This year, with a few exceptions, the online submission of income tax returns has been made mandatory for all taxpayers.
However, those who fail to submit their returns within the deadline need not worry, as there is an option to apply for a time extension. Applications for an extension must be submitted online, and the NBR has introduced a system to facilitate this process.
How to apply
To simplify the application and approval process for time extensions, an online system has been introduced. Taxpayers can log in to the NBR’s e-return system and apply for an extension using the “Time Extension” menu.
Based on the application submitted online, the concerned tax commissioner will either approve or reject the request through the same system. If approved, taxpayers will be able to submit their returns within the extended period without paying any penalty or additional tax.
Requirements for application
To apply online, taxpayers must be registered in the e-return system. Applications must be submitted before March 31. Those not required to file returns online can apply either through the online system or by submitting a written application to the relevant tax circle.
If an application is made before March 31, the respective tax commissioner may grant an extension of up to 90 days for filing the return.
NBR Public Relations Officer Md Al Amin Sheikh said the deadline for individual taxpayers to submit returns has been extended until March 31 this year. However, taxpayers may apply before the deadline to receive an extension of up to 90 days.
He added that the online system has been introduced to make the process of applying for and approving time extensions easier, faster, more transparent, and more convenient. Taxpayers can now log in to the e-return system and use the “Time Extension” menu to apply online for additional time to file their returns.