The deadline for submitting income tax returns for the fiscal year 2024 has been extended by the Federal Board of Revenue (FBR) in response to requests from different trade associations and Tax Bar Associations.
According to a notification released by the FBR, the updated deadline is October 14, 2024.
The Federal Board of Revenue has extended the deadline for filing Income Tax returns for the Tax Year 2024 from September 30, 2024, to October 14, 2024, under Section 214A of the Income Tax Ordinance 2001, in response to requests from trade bodies, Tax Bar Associations, and the public, as stated in the notification.
This extension was granted a few hours after the FBR had previously mentioned that no more extensions would be given. The FBR released a statement today debunking rumors about a potential extension and advising taxpayers to submit their returns on time.
The FBR has advised all taxpayers to submit their income tax returns promptly to prevent penalties and fines.
There was much speculation about the possibility of extending the filing date because of technical issues in the FBR system. Numerous tax payers encountered challenges when submitting returns due to the system being overwhelmed with processing larger filings during periods of high demand. In spite of these difficulties, the FBR stated that more than 3.5 million people had already filed their returns without any major problems, especially those who are salaried individuals.
The FBR is optimistic that the extended deadline will allow taxpayers more time to submit their returns, ensuring adherence and avoiding penalties.
