On 30 September 2022, the Federal Board of Revenue (FBR) issued Circular No. 16 of 2022 and extended the date of filing income tax returns for the tax year 2022. According to the circular, the FBR extended the date for annual return filing up to 31 October 2022 from 30 September 2022.
In order to ensure the smooth filing of returns and improve the ease of doing business and decrease the cost of compliance for taxpayers, the revenue board has also enabled a refund adjustment tab in the return forms. In this regard, it is informed that refund applications filed up to 9 September 2022, are eligible for adjustment of refunds. The FBR also stated that “This facility is available to all taxpayers who have not claimed excess adjustment against previous years’ refunds,”
