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The Federal Board of Revenue has decided that there will be no more extensions to the deadline for filing income tax returns. The FBR has rejected requests for a third extension of the deadline, which is currently due to expire today (October 31).
The FBR has reported that over 5.01 million returns have been filed and over Rs125 billion has been collected through the tax returns procedure. Citizens are reminded by the tax authority to submit their tax returns no later than midnight tonight. From November 1, people who filed late or didn’t file will be found.
Late filers will have to pay double taxes on buying houses and cars. Income tax returns must be filed by everybody earning more than Rs50,000 per month, according to officials. Individuals who do not comply will be categorized as either non-filers or late filers.
FBR Warns Non-Filers of Travel and Service Restrictions
According to the officials from the body, those who do not file their taxes will be subject to travel restrictions, have their SIM cards disabled, and may have their electricity and gas turned off. The income tax return submission deadline was extended to October 31 by the Federal Board of Revenue (FBR) on October 14. The decision was made after hearing requests from tax bar associations and trade groups, and it takes bank holidays into account.
Section 214A of the Income Tax Ordinance 2001 granted taxpayers more time to submit their forms by extending the deadline. At the request of numerous trade groups and tax bar associations, FBR has already postponed the September 30th, 2024 income tax return filing due to October 14th.
