FBR Has So Far Received 4.8 Million Income Tax Returns for FY24

The Federal Board of Revenue (FBR) has received 4.8 million income tax returns for the tax year 2024. The tax office has received 4.821 million income tax returns until October 26, 2024, which is 2.4 million more than the returns filed in FY2023. FBR received 2.407 income tax returns during FY2023 (up to October 26). The tax department has collected Rs. 123 billion in tax through the filing of tax returns until October 26, 2024. The tax department had collected Rs. 56.55 billion tax during FY2023. FBR received 528,638 income tax returns from new tax filers for FY2024 so far. The FBR has warned that it will not extend the date for filing income tax returns beyond October 31, 2024. It bears mentioning that the filing date was pushed to October 31, 2024, on October 14. Taxpayers are encouraged to take advantage of this extension (ending next week) to fulfill their obligations without incurring penalties.