In a surprising turn of events, the Federal Board of Revenue (FBR) has taken a U-turn and announced an extension for filing income tax returns for the tax year 2024. This decision comes after the FBR initially refuted reports of any extension earlier in the day.

Invoking powers under Section 214A of the Income Tax Ordinance 2001, the FBR has extended the deadline for filing income tax returns from September 30, 2024, to October 14, 2024. This extension is in response to numerous requests from trade bodies, Tax Bar Associations, and the general public, as stated in an official circular.

Earlier, the FBR had urged all eligible taxpayers to submit their returns by the original deadline to avoid penalties and other punitive actions. However, the decision to extend the deadline reflects the FBR’s consideration of the appeals from various stakeholders seeking additional time for compliance.