The FBR has announced an extension of the income tax return filing deadline for Tax Year 2025 (July 2024 – June 2025) to March 31, 2026. The original deadline of March 15 has been pushed back due to technical issues with the IRIS portal and requests from tax practitioner associations.
Who Needs to File?
- Salaried individuals with annual income above Rs. 600,000
- Business owners and self-employed professionals
- Anyone who owns property, a vehicle, or has a bank account with Rs. 1M+ balance
- Freelancers earning foreign income (to get Active Taxpayer status)
Benefits of Filing on Time
Active Taxpayer List (ATL) status gives you 50% lower withholding tax rates on banking transactions, vehicle registration, property transactions, and mobile phone purchases. Missing the deadline means double withholding taxes for the entire next year — a significant financial hit.