LAHORE – The country’s apex tax collection authority, the Federal Board of Revenue (FBR), has announced that there will be no extension of the deadline for submitting income tax returns as a one-month extension was given, which expired by the end of October.
FBR earlier announced October 30 as the last date for filing income tax returns and now the date has not been extended.
Media reports suggest that 29 lac Pakistanis filed their income tax returns, while business community officials called on tax collection authority to consider a one-month extension, in relief for those people who failed to follow the deadline amid economic hardships.
Pakistan Tax Bar Association (PTBA) said an extension in deadline would assist individuals in fulfilling their tax obligations besides helping increase in number of active tax filers.
Amid the requests from concerned people, FBR has denied giving additional time to file income tax returns. Taxpayers are advised to follow the deadline to avoid any penalties or legal consequences.
As of the first four months of FY23-24, FBR collected an impressive Rs2748 billion in revenue, the amount surpasses the set revenue target of Rs2682 billion.
FBR official clarifies reports about imposition of income tax on people earning Rs50,000 or less
