Business apex body FBCCI has requested an extension of two months in the deadline for filing company returns.
On Tuesday (February 20), the chairman of the National Board of Revenue (NBR) gave a letter in this regard to FBCCI president Md. Mahbubul Alam
Demanding to extend the deadline for filing income tax returns till April 30 in the case of companies, he said in the letter that the businessmen of the country are contributing to the overall economic development and prosperity. New Income Tax Act has been enacted recently to make the tax system sustainable, modern and people friendly. Full understanding of the enacted Income Tax Act is not yet developed among businessmen. Besides, due to the adverse global situation, price inflation, dollar crisis and the upcoming Ramadan, the traders are busy with the import and export of daily necessities, so there is a delay in preparing the necessary papers and documents for the audit activities. Moreover, due to the long time required to obtain the DVC Code (Documents Verification Code) by the audit firm, the companies are taking a long time to get the audit report.
In the letter, he mentioned, FBCCI feels that at least two more months is required for filing the return of the company in view of requests from various member organizations of FBCCI.
In such a situation, it is necessary to extend the deadline for filing the return of the company till April 30, without penalty and continuing other benefits.
Earlier, the time for filing returns was extended from January 15 to February 28 due to the demands of traders.
