FBR extends deadline for filing income tax return 2024

ISLAMABAD: The Federal Board of Revenue (FBR) has announced a 14-day extension for submitting income tax returns, moving the deadline to October 14.

Earlier, at night the Federal Board of Revenue (FBR) announced that there will be no extension in the filing of income tax returns for the financial year 2024.

In a statement issued by FBR, it was clarified that the news circulating in various media regarding the extension of the period for submission of income tax returns is false.

However, FBR changed its decision to extend the deadline for filing income tax returns in a special meeting led by FBR Chairman Rashid Mahmood Langrial, as the original deadline was set to expire on September 30.

Thanks to this extension, citizens can now submit their income tax returns by October 14. During the meeting, the FBR chairman was briefed on the tax collection for September, which revealed an impressive Rs 1106 billion collected through income tax returns, surpassing the target of Rs 1098 billion.

Notably, around 2.9 million taxpayers have filed their tax returns as of September 28, a significant increase from last year’s 1.4 million submissions during the same period.

The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) had requested a 30-day extension for filing income tax returns, citing difficulties due to the FBR’s defective system, which causes delays and technical difficulties.

Atif Ikram Sheikh, President of FPCCI, emphasized that the FBR should focus on improving the tax system alongside its stringent measures.

In addition, he pointed out that the online system’s limitations and incapacities make tax filing cumbersome for the general public.

Sheikh expressed disappointment that only 2.6 million taxpayers have filed returns so far but noted that over 844,000 new taxpayers have been added to the tax net since July 1, 2023. He believes an extension could increase the number of return filers to seven million.