FBR Extends Income Tax Return Deadline to October 31

The Federal Board of Revenue (FBR) has announced an extension of the deadline for submitting income tax returns to October 31. This decision comes in response to requests from trade organizations and tax bar associations, taking into account recent bank holidays.

Reason for the Extension

The extension is provided under Section 214A of the Income Tax Ordinance 2001, allowing taxpayers additional time to file their returns. The move aims to facilitate taxpayers and ensure compliance with tax regulations, particularly amidst various operational challenges they may be facing.

Previous Extensions

Prior to this announcement, the FBR had already extended the deadline for filing income tax returns for the fiscal year 2024 from September 30 to October 14, following similar requests from trade associations and tax professionals. The current extension reflects the FBR’s commitment to supporting taxpayers and promoting timely compliance with tax obligations.

This extension provides taxpayers with additional time to prepare and submit their returns, ensuring they meet their responsibilities without unnecessary pressure.