The Federal Board of Revenue (FBR) has issued a stern warning to taxpayers across Pakistan. Taxpayers who fail to file their income tax returns by the September 30, 2024 deadline may face dire consequences. Among the penalties, the FBR Threatens to Block SIMs and Cut Utilities for Non-Filers.
Under Section 114(1)(b)(vii) of the Income Tax Ordinance 2001, individuals with taxable income are required to file their tax returns for the year 2024. Meet the deadline. Failure to comply could lead to legal action, financial penalties, or further investigation into their financial activities.
FBR stressed the need for accurate submissions and warned that they have complete records of financial transactions. FBR reserves the right to impose penalties or initiate audits if taxpayers do not submit their tax returns by the deadline. These audits can uncover discrepancies, which can result in hefty fines or further scrutiny.
The message to taxpayers is clear: File your returns promptly to avoid disruption. Apart from the fines mentioned, the FBR can initiate investigations against defaulters, which can lead to legal battles and unwanted attention. The September 30 deadline is fast approaching, and non-filers should take this warning seriously.
Finally, taxpayers must file their returns before the due date to avoid any legal, financial, or lifestyle hurdles. The FBR’s focus on compliance means that the consequences of ignoring this deadline are more serious than ever. Stay tuned for more information.
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