The Federal Board of Revenue (FBR) has officially extended the deadline for filing income tax returns for the Tax Year (TY) 2024 to October 14, 2024. This extension applies to individuals and businesses that were initially required to file their returns by September 30, 2024. The decision was made in response to multiple requests from trade bodies, tax bar associations, and the general public, according to a notification issued by the FBR.

The FBR invoked Section 214A of the Income Tax Ordinance 2001 to grant this extension, providing additional time for taxpayers to complete their filings without facing penalties.

Earlier in the day, the FBR had denied media reports suggesting an extension. In a statement, the FBR had refuted claims of any planned extension, urging taxpayers to meet the original September 30 deadline to avoid potential punitive actions. The Board advised taxpayers to comply with the filing requirements promptly.

However, later in the day, the FBR reversed its stance and officially extended the deadline.

Reports had also surfaced that Prime Minister Shehbaz Sharif was expected to make a final decision on extending the deadline due to technical issues with the FBR’s IRIS system, which had difficulty processing large volumes of data. Tax advisers and practitioners had called for a two-month extension, citing slow system performance and difficulties in filing returns.