FBR expands the tax return deadline on October 15

The Federal Revenue Council expanded the taxpayer’s deadline to submit income tax returns for the financial year 2024-2025 by 15 October.

The deadline was expanded in response to requests for various business associations, tax associations and the general public.

In a circular issued by the Federal Revenue Council (FBR) on Tuesday, it was announced that the last date of filing of income tax returns had been expanded in accordance with Article 214 (a) of the income tax decree, 2001.

The FBR has clarified that the expansion would allow taxpayers additional time to comply with their deposit obligations, with the aim of facilitating the burden on those who struggled to meet the original deadline.

One day earlier, FBR had announced that the deadline for filing income tax returns would not be extended beyond September 30. In a statement, the FBR had invited taxpayers to submit their returns “precisely and honest” until the expiry date, warning that those who failed to do so would face penalties and be accused of being delayed.

“Taxpayers also warned that failure of file yields by the expiry date would result in delays and penalties under the law,” he added.

The Lahore Chamber of Commerce and Industry (LCCI) have urged the government to extend the deadline for submitting income tax returns by October 31 to facilitate the business community to fulfill their obligations.

In a statement issued by LCCI President Mian Abuzar Shad, Senior Vice President Khalid USMan and Vice President Shahid Nazir Chaudhry addressed Prime Minister Shehbaz Sharif, Finance Minister Muhammad Aurangzeb and President of the Fr. announce the extension.

They said that due to the devastating floods in many parts of the country and many other pressing issues, a large number of taxpayers will not be able to cover the current September 30 deadline. LCCI leaders added that the FBB’s electronic archive system is under heavy load, causing delays and difficulties for genuine taxpayers.

“The business community is the backbone of Pakistan’s economy and the government must adopt a more flexible and facilitating approach to its policies,” the statement said.

Last week, the Hyderabad Chamber of Small Traders and Small Industry urged the federal government to expand the 48 -day income tax deadline, citing changes to the Iris Gate and floods in Punjab, KP and Sindh.

In a statement, the President of the Chamber of Commerce Muhammad Saleem Memon claimed that the desired relief is essential for the facilitation of taxpayers and to prevent them from undergoing penalties and hardships.