The Federal Board of Revenue (FBR) has announced a second extension for filing income tax returns, now due by October 31.
The decision was detailed in a late-night statement on Monday, citing powers under Section 214A of the Income Tax Ordinance, 2001. Originally set for September 30, 2024, the deadline was first extended to October 14, 2024, and has now been pushed further to accommodate filers.
This extension responds to requests from various trade bodies and the Tax Bar Association, compounded by banking holidays in Islamabad and Rawalpindi. Notably, these cities recently observed a three-day public holiday in preparation for the upcoming Shanghai Cooperation Organisation’s (SCO) Council of Heads of Government meeting scheduled for October 15 and 16.
Read: Last Day to File Tax Returns for FY 2023-2024
Historically, the FBR has often extended the tax return deadline, continuing a trend observed in recent years. Last year, the deadline was similarly extended to October 31.
The back-to-back extensions are related to the tax-heavy budget passed in June by Prime Minister Shehbaz Sharif’s administration. The budget aims to enhance tax collection to secure a new bailout deal with the International Monetary Fund (IMF).
