ISLAMABAD: The Federal Board of Revenue (FBR) has extended the date for filing of income tax returns.
The FBR has initiated steps to achieve the tax target for FY 2023-24 and has also announced the date for submission of income tax returns.
According to the Federal Board of Revenue, the process of filing income tax returns will begin from July 3 and the last date for filing tax returns is September 30.
According to the sources, FBR failed to achieve the target of the last financial year and the institution collected tax revenues of Rs7,144 billion till June 27, 2023, while the tax target of FBR for the current financial year was Rs7,640 billion.
Sources said that the FBR was collected less tax revenue of Rs496 billion compared to the set target.
The FBR has set a target of Rs 9600 billion for the collection of tax returns for the last financial year.
