FBR has stated that the relief was offered under Section 214A of the Income Tax Ordinance, 2001. The decision came after repeated appeals by trade associations, tax bar associations and the general public, who requested that the tax authority give relief considering difficulties encountered in the return-filing process.

The tax authority has instructed the public to use its web portal IRIS for prompt and easy filing. Authorities have warned the public against waiting until the last few days, emphasizing that early filing would prevent computer congestion, errors, and potential penalties.

Last week, the FBR had reminded people and organizations that September 30 was the initial deadline for submitting income tax returns for the current fiscal year. However, with the recent extension, taxpayers now have two extra weeks to do so.

Along with the extension, FBR also issued a stern advisory requesting taxpayers to make truthful statements of their assets and income. "File your income tax truthfully and accurately," the statement went, and said that transparency is crucial for making Pakistan s revenue system stronger and broadening the tax net.

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In an effort to streamline the process, the FBR has also introduced a new, simplified return form in order to reduce technical complexities for filers. The revised format is likely to promote higher compliance and simplify the submission of returns by first-time taxpayers without professional help.

With the widened filing window and streamlined filing procedure, the FBR anticipates a large number of on-time submissions that will induce greater compliance and larger coverage in Pakistan s formal economy.