FBR extends income tax return filing deadline to Oct 14 amid requests from trade bodies

ISLAMABAD:

The Federal Board of Revenue (FBR) has extended the deadline for filing income tax returns for the fiscal year 2024, following requests from various trade associations and Tax Bar Associations.

The new deadline is now October 14, 2024, as per a notification issued by the FBR late on Monday.

“In exercise of powers conferred under Section 214A of the Income Tax Ordinance 2001, the Federal Board of Revenue is pleased to communicate that the date of filing of Income Tax returns for the Tax Year 2024, for persons who are required to file their returns by September 30, 2024, is hereby extended up to October 14, 2024, in view of requests from various trade bodies, Tax Bar Associations and the general public,” the FBR stated in the notification.

This extension comes hours after the FBR had earlier stated that no further extensions would be granted. In a statement issued earlier today, the FBR dispelled circulating rumours about a possible extension, urging taxpayers to file their returns promptly. “All taxpayers are urged to file their income tax returns promptly to avoid penalties and fines,” the FBR had said.

There had been widespread speculation that the filing date might be extended due to technical issues within the FBR system. Many taxpayers had faced difficulties filing returns as the system struggled to process larger filings under heavy load. Despite these challenges, the FBR reported that over 3.5 million individuals had already submitted their returns successfully, with most returns from salaried individuals being processed without significant issues.

The FBR is now hopeful that the extended deadline will give taxpayers the additional time they need to submit their returns, ensuring compliance and avoiding penalties.