The Federal Board of Revenue (FBR) has confirmed that the deadline for filing income tax returns for the tax year 2024 will not be extended beyond October 31. Initially set for September 30, the deadline was extended twice, to October 14 and then to October 31.

By the final deadline, the FBR received 5.129 million income tax returns, marking a significant 77.47 percent increase from the 2.890 million returns filed by the same date last year. This surge includes 1.3 million new filers added between July 1 and October 31. The tax payments accompanying these returns totaled Rs. 130.60 billion, a 73.80 percent increase from Rs. 75.141 billion collected last year.

A notable aspect of this year’s filings is the high number of nil-filers, who accounted for 1.994 million, or 39 percent, of the total returns filed by October 31. In the full 2023 tax year, nil returns made up 55 percent of the total 6.675 million returns filed. These nil-filers typically submit returns to report specific financial transactions or to qualify for lower tax rates under the Active Taxpayers List.