Islamabad, October 1, 2024 – In a significant move, the Federal Board of Revenue (FBR) has granted a 14-day extension for the filing of income tax returns for the tax year 2024, providing relief to millions of taxpayers.
The announcement, made at the stroke of midnight on September 30, 2024, came after mounting pressure from various trade associations, tax bar councils, and the general public.
The FBR issued Circular No. 02 of 2024-25 IR-Operations (Income Tax) to officially confirm the extension. According to the circular, the deadline for filing income tax returns, originally set for September 30, 2024, has now been extended to October 14, 2024. This decision grants individuals and entities a crucial two-week window to complete their tax filings.
In the official statement, the FBR acknowledged that the extension was granted in response to numerous requests from professional bodies and trade organizations across the country. The FBR had initially refused to extend the deadline, sparking frustration among taxpayers and tax practitioners, many of whom were struggling with technical glitches on the FBR’s online filing system.
Just hours before the extension, the FBR had issued a stern refusal, dismissing media reports about any potential delay in the deadline. The sudden shift in the FBR’s stance underscores the pressure it faced from key stakeholders, who argued that the technical issues and time constraints were preventing taxpayers from meeting the original deadline.
“The extension is a much-needed relief,” said a senior tax consultant in Islamabad. “Many taxpayers were experiencing difficulties with the FBR’s e-filing system, and this extension will allow them to comply with their tax obligations without facing penalties.”
The decision has been broadly welcomed by trade and business communities, as well as individual taxpayers who had been anxiously waiting for a reprieve. Several prominent tax bar associations had earlier raised concerns about the potential penalties taxpayers could face due to the short timeline and system glitches.
The 14-day extension will allow taxpayers who missed the original deadline to file their returns without incurring penalties or facing legal repercussions. However, the FBR emphasized that this would be the final extension, urging all taxpayers to utilize this grace period and submit their returns promptly.
As the new deadline approaches, taxpayers are encouraged to take advantage of this extension and avoid the last-minute rush to file, ensuring compliance with tax laws while avoiding potential fines and sanctions.
