The Federal Board of Revenue (FBR) has received 1.772 million income tax returns for the tax year 2024 as of September 17, 2024. This is an increase of 844,748 compared to the previous year’s total of 928,049 returns for FY2023.
According to sources, the FBR also collected Rs. 17.2 million in taxes through the returns filed so far, compared to Rs. 3.875 million collected during FY2023. This rise is attributed to the removal of exemptions and the end of the minimum tax.
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FBR has also recorded 195,194 new tax filers in FY2024, reflecting a broader participation from individuals and businesses in the tax system this year.
Officials noted that the increase in admitted tax is significant due to these policy changes, which helped boost revenue collection compared to last year’s figures.
FBR has firmly stated that the deadline for filing income tax returns will not be extended beyond September 30, 2024.
