FBR rules out further extension in deadline for filling income tax returns
- By Shoaib Nizami -
- Oct 31, 2024
The Federal Board of Revenue (FBR) has ruled out further extension in the deadline of filling income tax returns, ARY News reported on Thursday.
After two extensions, the FBR has denied any further extension in the deadline, which is set to expire today (October 31).
According to the FBR officials, so far, over 5.01 million returns have been submitted, with more than Rs125 billion collected from the tax returns process.
The tax body has directed the citizens to file their tax returns until midnight tonight. Starting from November 1, late filers or non-filers will be identified.
Late filers will be subjected to double taxation on vehicle and property purchases.
Officials emphasized that individuals earning Rs50,000 per month are required to submit income tax returns. Those failing to do so will be classified as non-filers or late filers.
Non-filers will face restrictions on international travel, their mobile phone SIM cards will be blocked, and their electricity and gas services may be disconnected, the body officials said.
Read more: FBR issues statement on extension in returns filing deadline
On October 14, the Federal Board of Revenue (FBR) extended the deadline for submitting income tax returns to October 31.
The decision was taken in a response to requests from trade organisations and tax bar associations and considers bank holidays.
The deadline was extended under Section 214A of the Income Tax Ordinance 2001, allowing taxpayers additional time to file their returns.
Previously, FBR had extended the deadline for filing income tax returns for the fiscal year 2024 from September 30 to October 14, following requests from various trade associations and tax bar associations.