FBR extends income tax return filing deadline to Oct 15

ISLAMABAD (Web Desk) -The Federal Board of Revenue (FBR) has extended the deadline for filing income tax returns for Tax Year 2026 by 15 days, giving taxpayers additional time to complete and submit their returns. The tax collection authority announced on Wednesday that the deadline, previously set for September 30, has now been extended to October 15, 2026. The FBR said the extension was granted after receiving requests from various trade bodies and tax bar associations, which had sought additional time for taxpayers to fulfil their filing requirements. The extension applies to persons who were required to file their income tax returns by September 30, 2026. The FBR's decision provides an additional two weeks for individuals, businesses and other taxpayers to complete their returns and submit the required information through the prescribed channels. The tax authority had earlier warned taxpayers about the financial and legal consequences of failing to file returns within the stipulated period. It had urged taxpayers to ensure that their income, assets and other relevant financial information was accurately reported. According to information released by the tax authority, penalties for late filing are also being revised significantly. The penalty for an individual filing an income tax return after the prescribed deadline is expected to increase from Rs1,000 to Rs25,000. For an Association of Persons (AOP), the late-filing penalty is expected to rise from Rs10,000 to Rs50,000, while companies could face a penalty of up to Rs100,000, compared with the existing Rs20,000. The FBR has also warned taxpayers against concealing assets or providing incorrect information in their tax returns. The authority has said it can use information available through financial and other data sources to identify discrepancies and recover outstanding tax liabilities. In a separate social media communication, the FBR said its modern data systems continuously receive information relating to taxpayers' income, assets and financial transactions. The authority urged taxpayers to provide complete and accurate information in their returns and ensure that the information submitted corresponds with their financial records. The FBR has advised taxpayers to file their returns through its official online filing system or the Tax Asaan application. Taxpayers requiring assistance can also contact the FBR helpline or visit their nearest tax office for guidance regarding the filing process. The extension is expected to provide relief to taxpayers and tax practitioners who had requested additional time to complete their documentation and meet the filing requirements. The FBR has reiterated that taxpayers should use the extended period to complete their returns rather than wait until the final days of the revised deadline. With the new deadline now set for October 15, 2026, taxpayers who were originally required to file by September 30 have an additional 15 days to fulfil their income tax obligations. The FBR has encouraged taxpayers to file accurate returns within the extended deadline to avoid late-filing penalties and other potential consequences under applicable tax laws.