The Federal Board of Revenue (FBR) has issued a final reminder to taxpayers ahead of the September 30 income tax return deadline. According to the warning, taxpayers who fail to submit their returns by the deadline may face penalties and could be treated as non-filers from October 1.
The late-filer category has also been discontinued, making it more important for individuals, businesses, AOPs, and companies to complete their tax returns on time. Reported penalties can reach Rs. 25,000 for individuals, Rs. 50,000 for AOPs, and Rs. 100,000 for companies, depending on the applicable case.
FBR Orders Retail Price and Sales Tax Labels on Packaging of 56 Product Categories
The deadline also concerns businesses that need to complete their income tax and sales tax registration. FBR sources have indicated that there will be no further extension to the deadline.
Taxpayers who have not yet completed their filing should check their status and submit the required returns before the deadline to avoid potential penalties and other tax-related complications. With the deadline approaching, timely filing can help taxpayers avoid unnecessary problems later.
