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October 21, 2024
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Crorepati income tax filers soar 5x to 2.3 lakh in 10 years

Crorepati income tax filers soar 5x to 2.3 lakh in 10 years

NEW DELHI: The number of individuals disclosing over Rs 1 crore taxable income in their returns soared five times from 44,078 in assessment year (AY) 2013-14 (financial year 2012-13) to just under 2.3 lakh in AY2023-24 (FY2022-23), which may be a pointer to higher incomes and improved compliance. During the period, the number of tax […]

Business
September 30, 2024
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No extension in tax return submission deadline: FBR

No extension in tax return submission deadline: FBR

Putting rumours to the rest, the Federal Bureau of Revenue (FBR) on Monday said that the September 30 deadline for the submission of tax returns was not being extended. In a statement issued today, the tax regulatory authority clarified that media reports about extension of income tax returns filing date “are untrue”. “All taxpayers are […]