Islamabad, Pakistan:In a significant announcement, the Federal Board of Revenue (FBR) has extended the deadline for filing income tax returns for the tax year 2024. The new deadline is now October 14, 2024, a decision made in response to numerous requests from various trade bodies, tax bar associations, and the general public.
The FBR’s decision comes after earlier denying any plans to extend the original September 30 deadline. However, in light of the overwhelming public demand, the authority has reversed its stance and granted a two-week extension. CIRCULAR NO. 02 OF 2024-25IR-OPERATIONS
This extension aligns with the FBR’s recent trend of postponing tax return deadlines. Last year, the deadline was pushed back to October 31. While the exact reasons for this year’s extension are not explicitly stated, it is likely related to the complexities of the tax laws and the need to provide taxpayers with additional time to comply.
The FBR has urged all taxpayers to file their income tax returns promptly to avoid penalties and legal consequences. The extension offers a valuable opportunity for taxpayers to ensure accurate and timely compliance with their tax obligations.
