The Federal Board of Revenue (FBR) has once again extended the deadline for filing income tax returns, now allowing taxpayers until October 31 to submit their documents. This is the second extension, following earlier pushes from September 30 to October 14.
The decision came after numerous requests from trade organizations and tax bar associations, seeking more time for submission. In a circular issued by the FBR under Section 214A of the Income Tax Ordinance 2001, the extension was confirmed to provide relief to taxpayers.
Despite earlier claims from the FBR that October 14 would be the final deadline, the extension was granted to accommodate the significant rise in tax filings. According to the FBR, over 4.43 million individuals have already submitted their returns, marking a 105% increase from last year’s 2.16 million submissions.
Tax collection has also surged, with Rs114 billion gathered by October 8, more than doubling the Rs52 billion collected by the same time in 2023. Notably, 1.63 million taxpayers declared zero taxable income, while over 1.03 million new taxpayers registered since July 2023.
With the extended deadline, the FBR encourages taxpayers to avoid further delays and ensure timely compliance.