The Federal Board of Revenue (FBR) has officially extended the deadline for filing income tax returns. The decision made during a meeting chaired by FBR Chairman Rashid Mahmood Langrial.
New Deadline: October 14, 2024
According to sources, taxpayers now have until October 14, 2024 to file their income tax returns. This extension aims to accommodate the increasing number of filers and ensure that everyone has ample time to complete their tax obligations.
Significant Increase in Tax Filers
FBR officials reported that the number of individuals filing tax returns this year has doubled compared to the same period last year. This increase in compliance is a positive sign for the country’s tax system.
Official Notification Issued
An official notification regarding the extension of the income tax return filing deadline has already issued by the FBR. This comes as a relief for many taxpayers who had requested additional time to complete their tax filings.
Tax Target for September Achieved
In related news, the FBR announced that it has successfully met its tax target for September. The original target of Rs. 1,098 billion exceeded, reaching Rs. 1,100 billion, marking a significant achievement for the board.
Calls for Further Extension
It is worth noting that various trade organizations and tax bar associations had called for a one-month extension to the deadline. While the FBR granted a 15-day extension, these groups had initially requested more time due to the high volume of tax filings.
How to File Income Tax Returns
Taxpayers encouraged to file their returns online through the FBR’s official portal. Those who are yet to file should take advantage of the extended deadline and avoid any penalties by submitting their returns before October 14, 2024.
For more information on the income tax return process, visit the FBR’s official website or consult with tax professionals for guidance.
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