ISLAMABAD: The Federal Board of Revenue (FBR) has extended the deadline for filing income tax returns until October 15, 2025, providing relief to taxpayers across the country. According to the FBR, the extension has been granted following requests from trade organizations, tax bar associations, and the general public, who had sought additional time to complete … Read more
ISLAMABAD: The Federal Board of Revenue (FBR) has categorically ruled out any extension in the deadline for filing income tax returns for the tax year 2025, stating that September 30, 2025, remains the final date for submission. In an official clarification issued on Monday, the FBR dismissed reports of a possible extension as “baseless and … Read more
ISLAMABAD: The Federal Board of Revenue (FBR) has surpassed its revenue collection target for the first month of the current fiscal year by Rs6.4 billion. According to official data, FBR collected Rs754.4 billion in July 2025 against a target of Rs748 billion, achieving 100.9% of the monthly goal. The report highlights that the highest contribution … Read more
ISLAMABAD: The Federal Board of Revenue (FBR) has extended the last date for filing income tax returns till October 31.
According to the FBR, the extension was made in view of the request of trade unions and tax bar associations and bank holidays.
The FBR said the extension of the date for submission of returns was made under Section 214-A of the Income Tax Ordinance 2001.
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ISLAMABAD: The Federal Board of Revenue (FBR) has decided not to extend the date for submission of income tax returns.
A spokesman for the Federal Board of Revenue announced no extension of the tax return filing date.
The spokesperson said that FBR has given time till September 30 for submission of tax returns, which will not be extended.
According to the spokesperson, the government is introducing measures that will help prevent non-filers from buying property.
FBR spokesperson said that FBR is committed to improving the capability of our tax system through the application of modern techniques.
This includes leveraging data analytics and artificial intelligence (AI) to identify and combat tax evasion, upgrading tax infrastructure, and enhancing audit and verification processes, he added.
To support taxpayers, the FBR is providing assistance and simplifying tax laws and procedures, he said.
The Iris portal, a user-friendly tax filing system, is a key initiative in this effort, he said, adding that the FBR is focused on building a motivated, satisfied, dedicated, and professional workforce through training and development programs, fostering a culture of professionalism and integrity and encouraging employee motivation and job satisfaction.
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ISLAMABAD: In the budget for the fiscal year 2024-25, the federal government proposed exempting individuals earning up to Rs600,000 annually from paying income tax. Finance Minister Muhammad Aurangzeb presented the proposed changes during the budget session in the National Assembly (NA), emphasizing the need for personal tax reforms. Aurangzeb announced that the new tax target … Read more
ISLAMABAD: The Federal Board of Revenue (FBR) officials denied ending the income tax exemption on monthly income of Rs 50,000 and said that the tax exemption will continue.
The Federal Board of Revenue (FBR) is in the process of negotiating with the International Monetary Fund (IMF). Officials said that there will be no discussions with the IMF on imposing new taxes and the issue of imposing taxes on the low-income group will not be considered.
FBR officials said that the income tax exemption for those earning Rs 50,000 per month will continue and tax exemption for those earning Rs 600,000 per year is not being abolished.
Officials have said that there is no policy or proposal under consideration to withdraw the tax exemption and the World Bank has not suggested reducing the existing limit of Rs 600,000.
According to officials, the implementation of a tax on income from the agricultural sector is also a provincial matter.
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ISLAMABAD: The Federal Board of Revenue (FBR) on Thursday announced last date of filing income tax, Bol News reported. The FBR said the tax payers should file the income tax returns by September 30. It said the last date of filing income tax returns would not be extended. On September 13, the Federal Board of … Read more
The income Tax department sent a Rs 7 crore tax notice to a dead woman in Madhya Pradesh. The woman, Usha Soni, died in 2013. The tax notice was issued for the assessment year 2017-18. In a shocking incident reported from Betul district, Madhya Pradesh, the Income Tax department has sent a tax notice of … Read more
ISLAMABAD: The government has revised tax deduction criteria for the salaried class and withdrawn relief given in the federal budget. The government had decided to waive off taxes on earnings of Rs1.2 million which has now been withdrawn on the demands of the International Monetary Fund (IMF). The tax collection target of the Federal Board … Read more
KARACHI: The government is providing an amnesty, to be announced through a presidential order, for setting up industrial units, sources in the Federal Board of Revenue (FBR) told BOL News. In his address to the nation on February 28, 2022, Prime Minister Imran Khan announced a big relief package of reducing prices of petroleum products … Read more
KARACHI: The business community said that the Prime Minister industrial package will attract new investment of $5 billion alone in the industrial sector, a statement said on Thursday. The package will provide impetus to the economic growth in the country and lead Pakistan towards prosperity through industrialisation. The FPPCI’s Businessmen Panel (BMP) ruling group Chairman … Read more
MANILA – The son and namesake of former dictator Ferdinand Marcos the favourite to succeed authoritarian firebrand Rodrigo Duterte and return his clan to the presidential palace they once fled as the race to lead the Philippines kicked off. Candidates hit the hustings for the three-month campaign season in a chaotic and colourful charm offensive … Read more
The Federal Board of Revenue (FBR) reiterated on Friday that today will be the last day to file the income tax returns and vowed that there will be no extension in the date. An FBR official in a statement said that the last date of filing income tax returns for individuals, associations of persons and … Read more
The first prize of Rs. 750,000 will be drawn on Thursday, September 16 under the auspices of the Central Directorate of National Savings, Government of Pakistan.
First prize Rs 7 lacs 50 thousand second prize Rs 2 lacs and 50 thousand for 3 winners, third prize Rs 1,250 for 2397 winners of the lucky draw.
The government announced that income tax collection from the winners of the prize bonds grew 8 percent to reach Rs4 billion during the fiscal year 2020/21.
The sources at the Regional Tax Office (RTO) Karachi, a revenue collecting arm of the Federal Board of Revenue, said the income tax collection from the prize bonds increased to Rs4 billion in the fiscal year 2020/21, compared with Rs3.7 billion in the preceding fiscal year.
The FBR collects income tax on prizes and wins money under Section 156 of the Income Tax Ordinance, 2001.
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KARACHI: The tax authorities have withdrawn all the appeals it filed against the claim of exemption on foreign remittances, a senior official said on Monday. “The FBR [Federal Board of Revenue] has withdrawn the appeals on satisfactory response from the State Bank of Pakistan (SBP) on the issue of foreign remittances through banking channels,” the … Read more
KARACHI: The accountholders have paid Rs66 billion as income tax on profits derived on their deposits during the fiscal year 2020/21, official sources said on Saturday. The tax payment in the fiscal year 2020/21 is 10 per cent higher, compared with the Rs60 billion paid in the preceding fiscal year. The sources at the Regional … Read more
KARACHI: The collection of income tax from the sales and registration or transfer of motor vehicles registered an unprecedented growth of 190 per cent during the fiscal year 2020/21, mainly imposition of additional tax on the transfer of new motor cars without registration and uptick in the economic activities, sources said on Friday. According to … Read more
KARACHI: The taxpayers are running pillar to post to get withholding tax certificates for filing their income tax returns for the tax year 2021, as half a month of the deadline of three months had already passed. The filing of the annual income and statement of assets has started from July 1, 2021. This may … Read more
KARACHI: The Federal Board of Revenue (FBR) will collect income tax on the basis of advance-to-deposit ratio from banks on making investment in government securities, official sources said on Saturday. The sources in the revenue board said a relief had been provided to the banks in discharging liabilities on making profit from the investment made … Read more
KARACHI: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has accused the tax authorities of manipulating the Federal Budget 2021/22 by proposing anti-business and anti-growth measures in the document. In this regard, the apex trade body sent a letter to Prime Minister Imran Khan on Thursday and held the Federal Board of Revenue … Read more
KARACHI: The elimination of withholding tax on certain banking transactions would cost the tax authorities around Rs28 billion annually, besides hampering the efforts of compliance through the filing of income tax returns. The Finance Bill, 2021 has proposed to delete around 12 different provisions of withholding taxes, which is aimed at providing relief to the … Read more
KARACHI: The federal government has increased the income tax rate to 15 percent from the existing 10 percent on the income generated from the profits on bank deposits, sources in the Federal Board of Revenue (FBR) said on Monday. Through the Finance Bill, 2021, a major change has been made by increasing the tax rate … Read more
KARACHI: The government is considering to impose a 7.5% tax on pensions from July 1, 2021, sources said on Saturday. The sources in the Ministry of Finance said the Federal Board of Revenue (FBR) has finalised the flat income tax rate that would be incorporated in the Finance Bill, 2021 subject to the approval by … Read more
As the due date for filing return of income for the tax year 2019 is drawing nearer, outreach education and training seminars/workshops arranged by Regional Tax Office-II, Lahore are gaining momentum. Kiosks and return receipt counters have been established at all prominent commercial areas of Lahore, Kasur, Sheikhupura and Nankana. In order to ensure optimum … Read more
A delegation of National Institute of Management (NIM), Peshawar visited the Lahore Chamber of Commerce & Industry on Monday. Additional Director Staff Lt Col ® Ijaz Ahmad was leading the delegation while LCCI President Irfan Iqbal Sheikh, Senior Vice President Ali Hussam Asghar and Vice President Mian Zahid Jawaid Ahmad spoke on the occasion. LCCI … Read more
Commissioner Income Tax Asim Majid Khan has said that documentation is must for economic growth and cooperation of business community is of utmost importance. He was speaking at the Lahore Chamber of Commerce & Industry on Thursday. LCCI President Irfan Iqbal Sheikh, Senior Vice President Ali Hussam Asghar, Vice President Mian Zahid Jawaid Ahmad, former … Read more
The Federal Board of Revenue (FBR) is all set to launch an aggressive campaign from October 15, 2019 to get industrial and commercial consumers registered for income tax. Chairman FBR, Syed Shabbar Zaidi, in a tweet on Friday said that all industrial and commercial consumers were must be registered for income tax purposes. The FBR … Read more
