The Federal Bureau of Revenue (FBR) has announced key amendments in the Income Tax Rules, 2002. According to FBR, these amendments have been implemented on 18 October 2024 through an SRO and under Section 237 of the Income Tax Ordinance 2001.
According to new amendments, the list of active taxpayers will be updated on a daily basis. Moreover, those who submit tax returns within the prescribed period will be included in the list of active taxpayers. While the citizens who fail to submit tax returns within the prescribed period will be fined. It should be noted that the FBR has extended the last date for filing income tax returns till October 31. The extension was made in view of the request of trade unions and tax bar associations and bank holidays.