Officials have warned that mobile phone SIMs, electricity, and gas services of those who fail to file their income tax returns may be disconnected, and their bank accounts could be frozen. The Federal Board of Revenue (FBR) has set September 30 as the final deadline for filing tax returns for the financial year 2024.
As of now, around 1.425 million individuals have submitted their returns, but the FBR is urging more citizens to meet this legal obligation before the deadline.
The FBR has emphasized that there will be no extension of the deadline. Individuals who do not file their returns by September 30 may face serious repercussions. Those with an annual income exceeding Rs600,000, property or vehicle owners, and entrepreneurs earning above the specified threshold are required to file their returns.
According to FBR officials, non-compliance could lead to disconnection of mobile phone services, electricity, or gas, and the freezing of bank accounts. Furthermore, legal action will be pursued against those who ignore tax filing notices.
Previously, the FBR announced that defaulters would incur a daily penalty of 0.1% of the due tax amount, with a minimum fine of Rs1,000 for individuals and Rs50,000 for businesses and corporations.
The FBR also stressed that individuals with foreign travel records, significant bank balances, or ownership of properties, houses, or vehicles must submit their tax returns to avoid severe penalties.
All eligible taxpayers are encouraged to file their returns promptly to avoid any penalties and legal issues.
