Income tax deadline ends
The extended deadline to submit tax returns ended yesterday.
Many taxpayers were also seen filing requests with the National Board of Revenue yesterday, seeking additional time to submit their individual annual income and wealth statements.
The NBR has received around two lakh applications of this kind as of Sunday, said a senior official of the tax authority.
On September 30, the tax administrator extended the deadline for tax return submissions to November 30, as many taxpayers found it difficult to gather tax-related documents on time due to Hajj and Eid-ul-Azha holidays.
The tax offices were open till 10pm yesterday to receive returns.
Taxmen said the rush of individual taxpayers, particularly salaried people, rose on the last day.
The NBR received returns from some 5.35 lakh taxpayers till Sunday, down by 19 percent from the same day a year ago.
"We expect the number of tax returns to exceed last year's total," the NBR official said.
Some 11.1 lakh taxpayers submitted tax returns in fiscal 2014-15, up from 10.01 lakh a year ago, according to NBR.
The number of taxpayers has been gradually increasing in the last several years, but the tally still remains low, considering the size and growth of the economy, analysts say.
Currently, more than 17 lakh people have electronically generated taxpayer identification numbers.
Comments