Commercial banks across Pakistan will keep their branches open until 10:00 pm PKT on Wednesday for government duty and tax payments, under State Bank of Pakistan instructions.
The central bank extended the hours at the Federal Board of Revenue’s (FBR) request. It directed banks to maintain uninterrupted internet banking, mobile applications, automated teller machines and other digital payment services.
Relevant branches must remain operational for as long as necessary to complete special clearing of government transactions.
September 30 is the income tax return deadline for individuals and associations of persons. The FBR’s published schedule gives companies a December 31 deadline, while companies with a special tax year have a September deadline.
An FBR spokesperson urged taxpayers to submit complete returns with the relevant supporting documents. The spokesperson warned of action against people who conceal assets or provide incorrect information.
According to the authority, its data systems receive information about income, assets and financial transactions. It urged taxpayers to ensure their declarations accurately reflect those details.
Late filing can carry separate financial consequences.
Under section 182A of the Income Tax Ordinance, 2001, individuals face a Rs25,000 surcharge for joining the Active Taxpayers List after filing late. That amount has increased from Rs1,000.
For an association of persons, the surcharge has risen from Rs10,000 to Rs50,000. Companies face Rs100,000 instead of Rs20,000.
Read:Taxpayers Face Rs25,000 Late-Filing Surcharge in Pakistan
These charges concern inclusion in the list and do not replace other liabilities under the law. Individuals can qualify for an exception by giving a prescribed undertaking not to acquire ownership or beneficial interest in property for six months.
Taxpayers can submit returns through the FBR website or Tax Asaan application. Those needing assistance can contact the authority’s helpline or visit a tax office.
