The Federal Board of Revenue (FBR) has extended the deadline for submitting income tax returns by 14 days. According to a notification issued by the Revenue Division, the new deadline for filing income tax returns is October 14.
The notification stated that the decision was made following requests from various trade bodies, tax bar associations, and the general public. The original deadline for submitting income tax returns was September 30 (Monday).
On September 29, Finance Minister Muhammad Aurangzeb announced the government's "war on cash" as part of a strategy to tap into over Rs9.3 trillion in circulation and maximize revenue potential.
Speaking at a press conference, Aurangzeb emphasized that the "short-term pain" of recent policy measures would continue for most citizens, even as top corporations begin to benefit from emerging macroeconomic improvements.
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