FBR receives 76pc more tax returns

The Federal Board of Revenue (FBR) received 5.215 million returns for the tax year 2024 until Nov 6, an increase of 76 per cent over the 2.959m received during the same period last year. The FBR received 86,035 returns last week, with pen­alty payments submitted beyond the Oct 31 deadline. The tax payment with returns for tax year 2024 reached Rs132.259 billion until Nov 6, compared to Rs77.132bn in the same period last year, representing a 71.47pc increase. To make it easier for taxpayers to file their returns, the FBR has extended the deadline twice. According to the income tax ordinance, the deadline for submitting tax returns is Sept 30.