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FBR Extends Income Tax Return Filing Deadline to October 31
The Federal Board of Revenue has extended the deadline for filing income tax returns until October 31, citing requests from businesses and recent bank holidays in Islamabad and Rawalpindi.
ND
by News Desk
2024-10-15
FBR Extends Income Tax Return Filing Deadline to October 31

The Federal Board of Revenue (FBR) has extended the deadline for filing income tax returns for the financial year 2023-2024 to October 31. This marks the second extension of the deadline, previously set for October 14, following numerous requests from various commercial establishments and tax bar associations.

 

The FBR's decision comes in light of recent bank holidays declared in Islamabad and Rawalpindi, which were implemented ahead of the upcoming Shanghai Cooperation Organization (SCO) Heads of Government meeting scheduled for October 15 and 16. The extended deadline aims to facilitate taxpayers who may have been affected by these holidays.

 

Context and Implications

Originally, the FBR had set the deadline for income tax returns for October 14, but the growing concerns from the business community and legal representatives led to the first extension. The latest decision is expected to provide taxpayers with additional time to prepare and submit their returns, thereby promoting compliance and reducing potential penalties for late submissions.

 

Taxpayers are encouraged to take advantage of this extended period to ensure accurate and timely filing. The FBR has emphasized the importance of adhering to tax regulations to maintain the integrity of the financial system.

 

Conclusion

As the new deadline approaches, the FBR will continue to monitor compliance and provide support to taxpayers navigating the filing process. This extension reflects the agency's responsiveness to the needs of the business community while maintaining the essential function of tax collection.

 
Tagged:

SCO

FBR

PakistanEconomy

TaxCompliance

TaxFiling

IncomeTax
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