No more extension in returns filing date
The government will not extend the income tax return filing deadline for 2024. As of October 31, the FBR received 5.129 million returns, a 77.47% increase from last year, with Rs130.60 billion in tax payments. A rise in nil-filers indicates a shift toward greater tax compliance.
ISLAMABAD: The government has decided not to extend the income tax return filing deadline for the 2024 tax year, which was previously extended to October 31 after an initial extension to October 14.
Federal Board of Revenue (FBR) Chairman Rashid Mahmood Langrial confirmed the decision, noting the original deadline per the income tax ordinance is September 30.
As of October 31, the FBR had received 5.129 million returns, marking a 77.47% increase from last year’s 2.890 million within the same period. This year’s tax payments with returns totaled Rs130.60 billion, a 73.80% increase from last year’s Rs75.141 billion by the same date.
Significantly, the FBR also recorded 1.3 million new filers who joined between July 1 and October 31. However, nil-filers, accounting for 39% of total submissions, saw a steep rise with 1.994 million, compared to 1.01 million last year.
The surge in nil-filers, often filing to avail lower tax rates or to join the Active Taxpayers List, highlights a shift towards increased compliance.
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