FBR Has So Far Received 1.77 Million Income Tax Returns for FY24

The Federal Board of Revenue (FBR) has received 1.772 million income tax returns for the tax year 2024. Sources told ProPakistani that the tax office has received 1.772 million income tax returns until September 17, 2024, which is 844,748 more than the returns filed in FY2023. FBR received 928,049 income tax returns during FY2023. Sources further said that the tax department also collected Rs. 17.2 billion in tax through the filing of tax returns until September 17, 2024. The tax department had collected Rs. 3.875 billion admitted tax during FY2023. The increase in admitted tax is due to the withdrawal of exemptions and ending of minimum tax due to which revenue comparable to last year increased, sources added. Sources said that the FBR received 195,194 income tax returns from new tax filers in FY2024 so far. The FBR has warned that it will not extend the date for filing income tax returns beyond September 30, 2024.