Income tax returns surge 45pc YoY to 5.77m by Sept 30

Business Recorder reported that income tax returns filed climbed nearly 45 per cent from a year earlier to 5.77 million by September 30. The FBR count of 5,767,384 compares with 3,980,692 on the same date last year, an addition of roughly 1.79 million filings. Traders, professionals and other non-salaried individuals made up about four-fifths of that rise.

Non-salaried filers, including shopkeepers and self-employed persons, lifted their returns 60 per cent to 3.81 million and now form about two-thirds of the total. Salaried returns rose 22 per cent to 1.9 million, while partnerships and other associations of persons grew 33 per cent. Nearly 39 per cent of returns were nil, and company returns fell to 7,953 from 11,206.

Tax paid with returns totalled Rs77.3 billion, about 7 per cent below last year's Rs83.3 billion, as company payments dropped to Rs39.1 billion from Rs49 billion. FBR officials said many companies had held back filings in expectation of a deadline extension, which has now been granted, and they expect company returns and payments to rise in the coming weeks. Officials credited the gains to better use of third-party data, a simplified filing process and stronger enforcement.