On July 24, 2023, Islamabad the Federal Board of Revenue (FBR) formally announced the due date for submitting income tax returns for the Tax Year 2023.
Taxpayers must file their income tax forms by September 30, 2023, claims a top FBR official.
The procedure of filing income tax returns began on July 1, 2023, and will last until the deadline of September 30, 2023. The FBR has complied with the law by giving taxpayers a three-month time to complete their national obligation to file returns. AOPs, businesses with unique fiscal years, salaried individuals, business owners, and other groups of taxpayers are all subject to this requirement.
Taxpayers must file income tax returns in order to fulfill their legal obligations and make a financial contribution to the nation. It is crucial to sustaining Pakistan’s honest and accountable taxation system.
To ensure that their returns are filed accurately and on time, taxpayers are urged to make the most of the time they have available. Taxpayers can avert potential fines or other repercussions from non-compliance by meeting the deadline.
The FBR is dedicated to aiding taxpayers in the filing procedure. Taxpayers can use the IRIS portal to access a variety of online tools and help offered by the revenue board to streamline the process.
In addition to being required by law, filing tax returns is essential for the stability of the economy and the nation’s development programs. Tax income is essential for funding public services, the construction of infrastructure, and other national priorities.
Taxpayers are recommended to consult with licensed tax consultants or make use of the FBR’s official instructions and tools to ensure accurate filing and compliance with applicable tax laws and regulations.
In conclusion, the FBR’s notification of the tax year 2023 income tax return filing deadline serves as a reminder for all qualified taxpayers to execute their obligation and advance the country by completing their returns by the deadline.