Islamabad: The deadline for submission of income tax returns for the tax year 2024 by the Federal Board of Revenue has expired and the date for submission of returns by the FBR has not been extended, but till last night they The number of those who submitted tax returns exceeded 52 lakhs.
Compared to last year, the total number of tax returns has increased by 85%. According to the Federal Board of Revenue (FBR), more than 52,500,000 people have submitted returns till October 31. The number of filers is 2,310,000 compared to last year. 604 The total number of tax returns has increased by 85% on annual basis.
According to the sources, 19 lakh 38 thousand 615 people declared zero taxable income, this year 38.57 percent of people declared zero taxable income, from July 2023 till now 18 lakh 64 thousand 567 new people became filers, after July 2024 6 lakh 2 351 thousand new people registered.
It should be noted that yesterday was the last day for submission of income tax returns. FBR extended the deadline for submission of returns on October 15 for the second time and fixed the date of tax return on October 31, which has expired and FB R has not extended the date, while on the other hand, the government has also decided to audit the income and expenditure of non-filers.
The government has decided to eliminate the category of non-filers from the country’s tax laws. R officials say that the category of non-filers i.e. people who do not submit their annual tax returns will be abolished and various types of restrictions will also be imposed on non-filers.
The FBR has decided to impose several restrictions on non-filers, five of which will be imposed initially, including restrictions on property, vehicles, international travel, opening current accounts and investment in mutual funds.
