ISLAMABAD (Kashmir English): The deadline for filing income tax returns for the tax year is set to expire today, September 30, with taxpayers facing stricter penalties for delayed filing from October 1.
According to media reports, the government has proposed abolishing the “late filer” category nationwide, meaning taxpayers who miss the deadline could face higher financial penalties instead of simply being shifted to a different filer status.
Under the proposed penalty structure, the fine for salaried individuals would increase from Rs1,000 to Rs25,000. The penalty for Associations of Persons (AOPs) would rise from Rs10,000 to Rs50,000, while companies could face a penalty of Rs100,000 instead of the existing Rs20,000.
An FBR spokesperson has urged taxpayers to submit their returns by September 30 and attach all required documents and supporting evidence.
The spokesperson also warned that legal action could be taken against taxpayers who conceal assets or provide incorrect information in their returns.
According to the reports, authorities may also take measures such as attaching bank accounts to recover outstanding tax dues.
Taxpayers who have yet to file their returns have been advised to complete the process before the deadline to avoid potential penalties and other legal consequences.
