Business Desk
Oct 01, 2024
In an expected move, the Federal Board of Revenue (FBR) announced a 14 day extension for the filing of income tax returns for the year 2023-24.
The notification issued by the revenue board on Monday midnight stated that the extension has been annoumced by the FBR in exercise of powers conferred to the body 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 the Tax Year (TY) 2024, for the persons who are required to file their returns by September 30, 2024 is hereby extended up to October 14th, 2024 in view of the requests from various trade bodies, Tax Bar Associations and general public,” stated a notification issued on late Monday.
It should be noted that the decision has been taken hours after the tax-collection body ruled out any possibility of extending the September 30 deadline for the submission of tax returns. It clarified that media reports about extension of income tax returns filing date “are untrue”.
“All taxpayers are urged to file their income tax returns immediately to avoid penalties and legal action,” the FBR added.
Traditionally, the FBR, in recent years has adopted the practice of extending the tax return submission deadline. Last year, the authority pushed the date for the filing of tax returns to October 31.
