The Federal Board of Revenue (FBR) has introduced a new “late filer” category in the 2024-25 budget, targeting individuals who file income tax returns primarily for specific purposes, such as property-related transactions. Sources told Raised By Numbers that taxpayers who fail to file their tax returns by the due date of September 30, 2024, will be classified as “late filers.”

According to the new regulations, taxpayers submitting their returns for the first time for the tax year 2023 will be considered “late filers” until February 28, 2025. However, they can become classified as “filers” starting March 1, 2025, provided they file their 2024 tax returns on time—by September 30, 2024.

An exception has been made for individuals who have consistently filed their returns on time for the last three years. If such taxpayers miss the deadline only once, they will continue to be recognized as “filers”.

Last year, the FBR extended the filing deadline to October 30, 2023, providing taxpayers with additional time to submit their returns. This move reflects the FBR’s ongoing efforts to streamline tax processes and encourage timely compliance among taxpayers