Don’t Miss the Deadline: FBR Announces Last Chance for Income Tax Returns 2024

The Federal Board of Revenue (FBR) has announced a final deadline of September 30 for submitting income tax returns for the financial year 2023-24. This deadline is crucial for all taxpayers, as failure to meet it will result in legal action and penalties.

Individual filers who miss the deadline will face a minimum penalty of PKR 1,000, while other categories will incur a minimum of PKR 50,000. Additionally, a penalty of 0.1 percent on the outstanding tax amount will be imposed. It’s essential to file taxes on time to avoid these unnecessary consequences.

Certain individuals are required to file their tax returns, including those who frequently travel abroad, hold substantial bank balances, or own vehicles or property. If you fall into one of these categories, make sure to submit your taxes by the deadline to stay compliant and avoid stress.