Traders seeks extension in deadline for filling Income tax returns till Oct 31

HYDERABAD, Oct 14 (APP): President Hyderabad Chamber of Small Traders and Small Industry (HCSTSI) Nadeem Ahmed Siddiqui, Senior Vice President Muhammad Fahad Mian and Vice President Irfan Arbiani have jointly urged the Federal Minister for Finance and Revenue and the Chairman of the Federal Board of Revenue (FBR) to extend the deadline for filing income tax returns for Tax Year 2026 to 31 October 2026.

In their joint statement, the three office-bearers stated that despite the 15-day extension already granted, taxpayers, particularly traders, small and medium-sized enterprises (SMEs), and tax consultants, continued to face difficulties due to the introduction of new return forms, additional disclosure requirements, wealth statement reconciliation, and technical issues with the IRIS portal. They noted that the final return forms were notified on 2 September 2026, leaving taxpayers with limited time to compile the required information and file accurate returns.

They stated that the government’s efforts to broaden the tax base and improve the digital tax system could only succeed if taxpayers were provided with a workable system and adequate time to fulfill their obligations. They emphasized that the demand for an extension was not intended to evade tax responsibilities, but to ensure accurate, transparent, and effective tax compliance.

President Nadeem Ahmed Siddiqui, Senior Vice President Muhammad Fahad Mian, and Vice President Irfan Arbiani strongly urged the Federal Minister for Finance and Revenue and the FBR Chairman to extend the income tax return filing deadline to 31 October 2026 and ensure that taxpayers filing within the extended period were protected from penalties and other adverse consequences arising solely from the delay.