The Federal Board of Revenue (FBR) has given more time to taxpayers before the deadline for filing tax returns.
According to a statement issued by the FBR, the due date for filing income tax returns was September 30, which has now been extended by 15 days. Under the new arrangement, taxpayers will be able to file their returns by October 15.
The extension of the date has given additional time to those who have not yet completed their income tax returns. This includes taxpayers who want to file their returns to become tax filers.
Following the FBR’s decision, taxpayers will have two more weeks to complete their financial details and file their returns. The extension of the deadline means that the previous deadline of September 30 will no longer be applicable.
On the other hand, according to FBR sources, the 100 percent target for tax collection was achieved in September. A total of Rs 1,390 billion was recorded in tax collection this month.
Achieving the tax collection target is a significant development in the context of the FBR’s ongoing revenue-related initiatives. However, the new deadline for filing returns is a more immediate matter for taxpayers.
Individuals who have not yet been able to submit their returns can file their returns by October 15. It will be important for taxpayers to enter their income and related financial information correctly in the return to avoid any complications later.
The extension of the date by the FBR comes at a time when the focus is on including more people in the tax system and increasing revenues. The new deadline will give filers and new taxpayers additional time to complete their returns.
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