Islamabad: The Federal Board of Revenue (FBR) has announced an extension of the deadline for filing income tax returns for the fiscal year 2024-23 until October 31. This decision comes as a response to appeals from trade organizations and tax bar associations, and accommodates the disruptions caused by recent bank holidays.

According to Zameen.Com, this extension, authorized under Section 214A of the Income Tax Ordinance 2001, is intended to provide taxpayers additional time to comply with their fiscal responsibilities. The extension aims to alleviate the filing process and ensure greater compliance, considering the operational challenges faced by taxpayers.

The FBR had previously moved the original deadline from September 30 to October 14. Last month, it also introduced several new compliance measures to enhance tax collection and broaden the tax base. These include imposing restrictions on several financial activities for non-filers, such as property purchases, vehicle acquisitions, investments in mutual funds, opening of current accounts, and international travel, with exceptions made for religious purposes.