FBR Reports 4.8 Million Income Tax Returns Filed for FY24
The Federal Board of Revenue (FBR) has announced that it has received a total of 4.8 million income tax returns for the tax year 2024 as of October 26, 2024. This marks an increase of 2.4 million returns compared to the previous fiscal year, which saw 2.407 million returns filed by the same date in FY2023.
In terms of tax revenue, the FBR has collected Rs. 123 billion through these income tax filings, a significant rise from the Rs. 56.55 billion collected during the same period in FY2023.
Additionally, the FBR reported that 528,638 income tax returns were submitted by new tax filers for FY2024.
It is important to note that the FBR will not extend the deadline for filing income tax returns beyond October 31, 2024. The deadline was previously extended on October 14, and taxpayers are urged to take advantage of this final opportunity to complete their tax obligations without facing penalties
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