FBR extends deadline to file income tax returns, again

• FBR extends deadline for filing income tax returns for second time.
• Deadline extended in view of requests from various trade bodies.
• Earlier, the FBR had extended the deadline till October 14.
  

ISLAMABAD: The Federal Board of Revenue (FBR) has extended the date for filing income tax returns for the second time till October 31.

In a statement issued late Monday night, the tax collection body said: “In exercise of the 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 return for tax year 2024, for the persons who were required to file their returns by September 30, 2024 and was extended up to October 14, 2024 vide circular No.2 of 2024-25 dated September 30, 2024, is further extended to October 31, 2024.”

The step has been taken in view of the requests from various trade bodies, tax bar association and in the wake of the banking holidays announced in Islamabad and Rawalpindi, it added.

It is pertinent to mention here that a three-day public holiday was announced in Islamabad and Rawalpindi ahead of the much-anticipated Shanghai Cooperation Organisation's (SCO) Council of Heads of Government meeting, slated to be held on October 15 and 16.

Earlier, the FBR had extended the deadline for submission of tax returns for financial year 2024 till October 14.

Traditionally, the FBR, in recent years, adopted the practice of extending the tax return submission deadline. Last year, the authority had also pushed the date for the filing of tax returns to October 31.

In June, Prime Minister Shehbaz Sharif-led administration in its tax-heavy budget passed in June, set out an ambitious taxation plan to boost its prospects of securing a fresh bailout deal with the International Monetary Fund (IMF).