FBR Sets Deadline for Income Return Filing for Tax Year 2023

FBR Sets Deadline for Income Return Filing for Tax Year 2023

Islamabad, July 24, 2023 – The Federal Board of Revenue (FBR) has officially declared the deadline for filing income tax returns for the Tax Year 2023.

According to a senior official of the FBR, taxpayers must submit their income tax returns by September 30, 2023.

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The income tax return filing process commenced on July 1, 2023, and will continue until the specified deadline of September 30, 2023. The FBR has adhered to the statutory requirements by providing taxpayers with a three-month window to fulfill their national duty of filing returns. This obligation extends to various categories of taxpayers, including salaried individuals, business owners, Associations of Persons (AOPs), and companies with special fiscal years.

The filing of income tax returns is a critical phase for taxpayers in meeting their legal responsibilities and contributing to the country’s revenue generation. It plays an essential role in maintaining a transparent and accountable taxation system in Pakistan.

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Taxpayers are urged to utilize the available time efficiently to ensure the accurate and timely filing of their returns. By meeting the specified deadline, taxpayers can avoid potential penalties or legal consequences associated with non-compliance.

The FBR is committed to facilitating taxpayers throughout the filing process. To ease the procedure, taxpayers can access the IRIS portal and avail themselves of various online resources and assistance provided by the revenue board.

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Filing tax returns not only fulfills a legal obligation but also plays a crucial role in supporting the country’s development initiatives and economic stability. The revenue generated through tax collections is vital for financing public services, infrastructure development, and other national priorities.

To ensure accurate filing and compliance with relevant tax laws and regulations, taxpayers are advised to seek guidance from professional tax advisors or refer to the FBR’s official guidelines and resources.

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In conclusion, the FBR’s announcement of the income tax return filing deadline for Tax Year 2023 serves as a reminder for all eligible taxpayers to fulfill their duty and contribute to the nation’s progress by submitting their returns within the stipulated timeframe.