Current Affairs
“Deadline for Filing Income Tax Returns in Pakistan Has Ended”
The deadline for filing income tax returns in Pakistan for the tax year 2024 has officially ended as of October 31, 2024. The Federal Board of Revenue (FBR) reported a significant increase in submissions this year, with over 5.25 million individuals filing their returns, representing an 85% rise compared to the previous year. However, around 1.93 million filers declared zero taxable income, making up about 38.57% of total submissions. The FBR has emphasized that there will be no further extensions to the filing deadline, urging taxpayers to stay compliant with their tax obligations. This year’s robust participation highlights the increasing awareness of tax responsibilities among the populace.