Islamabad: The Federal Board of Revenue (FBR) has confirmed that the deadline for filing income tax returns will not be extended beyond September 30. The agency has called on taxpayers nationwide to ensure their submissions are completed on time to avoid severe penalties and legal consequences.

According to Zameen.Com, the FBR has noted that over 1.9 million income tax returns have already been filed. There has been a noticeable increase in registrations, with more than 466,000 new taxpayers registering since July 1, 2023, and an additional 205,000 since July 1, 2024. This increase is attributed to the FBR’s aggressive awareness campaigns aimed at expanding the tax base.

Officials from the FBR have highlighted that any individual with an annual income over PKR 600,000, as well as property and vehicle owners, must file their tax returns. Similar obligations apply to entrepreneurs who meet these income thresholds. Failure to comply could lead to serious repercussions such as disconnection of mobile phone SIMs, and utility services, and the freezing of bank accounts. The FBR also has the authority to initiate legal proceedings against non-compliant taxpayers.

In its ongoing efforts to increase taxpayer compliance and integrate more individuals into the formal economy, the FBR has reiterated its focus on individuals with foreign travel history, significant bank balances, and ownership of properties or vehicles, stressing that failing to file returns will result in strict enforcement actions and substantial penalties.