The Federal Board of Revenue (FBR) has announced an extension for the filing of income tax returns for the fiscal year 2024. This decision comes in response to requests from various trade associations, Tax Bar Associations, and the general public, who asked for more time to complete their filings.
According to a notification released by the FBR on Monday, the new deadline for submitting income tax returns has been moved to October 14, 2024. Previously, the original deadline was set for September 30, 2024.
The notification from the FBR explains that the extension was granted under the authority of Section 214A of the Income Tax Ordinance 2001. The FBR acknowledged that many trade bodies and tax professionals had expressed concerns about the short time frame, and in response, the extension aims to provide additional time to ensure that taxpayers can complete their returns without unnecessary pressure.
This move is expected to ease the burden on taxpayers and allow businesses and individuals more time to fulfill their obligations. The FBR’s decision to extend the deadline reflects its consideration of the challenges faced by many sectors in completing their tax returns on time.
Taxpayers are now advised to take advantage of this additional period to submit their income tax returns by the revised date of October 14, 2024, to avoid any penalties or complications. The FBR has urged all taxpayers to make the most of this extension and ensure their filings are done promptly.
