FBR Announces Decision on Extension for Income Tax Return Filing Deadline

The Federal Board of Revenue (FBR) has announced an extension for the filing of income tax returns for the tax year 2024. Originally due on September 30, 2024, and previously extended to October 14, 2024, the deadline has now been pushed to October 31, 2024. This decision, communicated through Circular No. 3 of 2024-25, comes in response to requests from various trade bodies and tax bar associations. The extension also considers the recent banking holidays in Islamabad and Rawalpindi, as per the Cabinet Division’s notification dated October 7, 2024. The FBR’s move aims to accommodate taxpayers affected by these holidays and ensure compliance with tax regulations. Taxpayers are encouraged to take advantage of this extension to fulfill their obligations without incurring penalties.