FBR Extends Deadline for Income Tax Returns Submission by 14 Days

The Federal Board of Revenue (FBR) has announced a 14-day extension for the submission of income tax returns, shifting the deadline to October 14, 2024. This decision provides relief to taxpayers who were struggling to meet the initial deadline of September 30.

The decision was finalized during a high-level meeting presided over by FBR Chairman Rashid Mahmood Langrial, where it was determined that the extension would help facilitate taxpayers facing difficulties in meeting the original deadline. A formal notification has been issued to inform the public of the extended deadline.

During the meeting, the FBR chairman was also briefed on the tax collection performance for the month of September. It was highlighted that Rs. 1106 billion was collected in September, surpassing the target of Rs. 1098 billion. This achievement was attributed to effective tax reforms and increased compliance by taxpayers.

The FBR’s decision to extend the deadline comes as part of its efforts to encourage maximum participation and ensure that all eligible citizens can file their returns without facing last-minute technical or procedural challenges.

The extension will benefit both individuals and corporate entities, providing them additional time to gather necessary documentation and submit accurate returns. The FBR has urged all citizens to take advantage of this extension and file their returns before the October 14 deadline to avoid penalties and other legal repercussions.

The FBR remains committed to improving tax compliance and has implemented several initiatives to simplify the filing process. Online platforms for tax return submissions have been strengthened to ensure a smoother experience for users, and helplines are in place to address queries from taxpayers.

This extension also demonstrates the FBR’s proactive approach to supporting the public in fulfilling their tax obligations, and it is expected to lead to higher tax compliance in the coming months.

Taxpayers are advised to submit their returns well before the deadline to avoid any last-minute issues that could arise due to technical problems or a rush in submissions.

For further updates and assistance, citizens can visit the FBR website or contact the FBR helpline.

Follow INCPAK on Facebook / X / Instagram  for updates.