Tax Returns Date Extended Till 14th October

Taxpayers Get Relief: FBR Extends Income Tax Return Deadline by 14 Days

Good news for Pakistani taxpayers! The Federal Board of Revenue (FBR) has granted some much-needed breathing room by extending the deadline for filing income tax returns by 14 days.

This decision comes after initial calls from trade bodies and tax professionals for a one-month extension.

Previously, concerns arose regarding the original deadline, with reports suggesting a potential extension upon approval from Prime Minister Shehbaz Sharif. While an initial proposal for a 15-day extension existed, the FBR initially ruled it out. However, in a late-night development, an emergency meeting chaired by FBR Chairman Rashid Mahmood Langrial resulted in the confirmation of a 14-day extension.

This reprieve offers valuable time for taxpayers to complete and submit their income tax returns without facing penalties or legal repercussions. While over 3.5 million individuals have already filed their returns, this extension aims to encourage a significant increase compared to previous years. In fact, the current number of filers already represents a significant jump compared to the same period last year.

Here’s a quick breakdown of the key points:

• Deadline Extension: 14 days granted for filing income tax returns.
• Previous Calls: Trade bodies and tax professionals advocated for a one-month extension.
• Increased Filer Count: Over 3.5 million individuals have already submitted their returns (significant increase compared to last year).
• Importance of Compliance: Taxpayers are encouraged to complete their filings to avoid penalties and ensure compliance with the law.

Don’t miss out on this opportunity! Utilize the extended deadline to file your income tax returns accurately and avoid any last-minute complications. For those seeking additional guidance, explore the FBR website (https://fbr.gov.pk/) for resources and information on the filing process.

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