The Federal Board of Revenue (FBR) has confirmed that the deadline for filing income tax returns for the financial year 2024 will remain September 30.
Despite approximately 1.425 million tax returns already submitted, the FBR is urging those who have not yet filed to do so before the cutoff.
The FBR has emphasized that there will be no extension of the deadline. Failure to file returns by September 30 could result in significant repercussions.
Individuals earning more than Rs600,000 annually, as well as those owning property or vehicles, must file their returns. Entrepreneurs meeting the income threshold are also required to comply.
Non-filers may face severe penalties, including the disconnection of mobile phone SIMs, electricity, or gas services.
The FBR also has the authority to freeze bank accounts and take legal action against those who ignore filing notices. Additionally, defaulting taxpayers will incur a daily fine of 0.1% of the overdue tax amount, with minimum penalties set at Rs1,000 for individuals and Rs50,000 for businesses or corporations.
The FBR has also specified that individuals with foreign travel records, substantial bank balances, or property and vehicle ownership are required to file their returns. The FBR urges all eligible taxpayers to file their returns promptly to avoid penalties and legal issues.