Tax go back submitting cut-off date prolonged for firms

The Nationwide Board of Income (NBR) has prolonged the cut-off date for submission of tax returns for firms till 15 June this 12 months for the tax 12 months 2022-23.

Consistent with a understand issued on Tuesday (16 Might), the ease will probably be acceptable to the corporations that experience sought time from the tax authority to document their tax returns.

The transfer got here as many businesses, which practice July-June as monetary 12 months, may just now not document their returns even after looking for time because the finish of Tax Day – January 15 of yearly.

Firms account for kind of 60% of general source of revenue tax– the second one largest income — accrued through the NBR a 12 months.

All the way through the closing fiscal 12 months, just about 29,000 businesses filed their tax returns.