How to file an income tax return online in Pakistan?
File Online Income Tax Return by logging into Iris. Iris is an online portal where Income Tax Return is filed. If you are a first-time Income Tax filer, registration will be required before you can file your Income Tax Return. After registration, you can log into Iris and file your Income Tax Return. How to file income tax return online in Pakistan
Before we start our discussion about the benefits of becoming an income tax filer in Pakistan, you should be clear about a few things
Income Tax Return in Pakistan
Income tax returns are the forms in which assess file information about their Income and tax thereon before the Income Tax Department. If anyone files a belated return, he/she would not be allowed to carry forward certain losses. The result of all this is that you’re required to file a tax return every year. Through the File Income Tax Return in Pakistan process, it’s determined whether you owe additional taxes beyond what you’ve already paid to the federal government, or if you’re owed a refund of the taxes you’ve already paid.
If you’ve got a job with a regular paycheck, you’re almost certainly already paying taxes. While your employer withholds the taxes you owe on your earnings/income and sends them to the federal government, there’s a lot more to do with the process to make sure you’re paying taxes appropriately.
For starters, your payroll withholding usually isn’t exactly right: The decisions you make when you set up your payroll withholding at the beginning of your employment can result in, under or excessive Tax Payments.
Further, you may be able to reduce the taxes you owe and thus, get a refund on taxes you already paid by taking certain deductions or credits provided for in the tax law. On the flip side, you might have additional income not included in your paycheck that you’re legally required to report, and which may result in you owing more in taxes.
NTN REGISTRATION & FILE INCOME TAX RETURNS EASILY WITH H&H
Expert chartered accountants & Tax Lawyers have a decade-long experience in registering new NTN and filing income tax returns. We provide hassle-free legal services to make our clients ‘ Filers’ and declare their income tax returns while ensuring the maximum legal protection. Now you can register your NTN and have your income tax return filed with FBR from the comfort of your home as well. All you need to do is to call us and we take care of the rest.
In order to get your new NTN registration online, experts at The following documents and information from their clients
Types of NTN:
Following are the types of NTN, from which one can register NTN according to their needs.
- Partnership/Association of Partnership (AOP) firm
- Non-profit Organizations (NPO)
DOCUMENTS REQUIRED FOR NTN REGISTRATION OF SALARIED PERSONS
- Copy of CNIC
- Mobile Numbers and Email addresses
DOCUMENTS REQUIRED FOR NTN REGISTRATION OF BUSINESS PERSON
- Copy of CNIC.
- Copy of recently paid electricity bill of business.
- Rent Agreement or copy of Ownership documents
- Mobile and Email address.
- Nature of Business
Once your NTN gets registered, the next step is to file your income tax return.
All we require is that you provide us with the requisite documents and information via email, WhatsApp, or a personal meeting and we take care of the rest. Upon receiving the full information, we prepare a draft of your FBR Tax Return, which we submit to FBR after your approval and satisfaction.
DOCUMENTS REQUIRED FOR FILING INCOME TAX RETURN OF SALARIED PERSON
- Tax Deduction Certificate from employer from 01st July 2021 till 30th June 2022
- Bank Account Statement from 01st July 2021 till 30th June 2022
- List of Personal Assets along with their Value of Purchase/Acquisition
- Bank loan and other liabilities if any.
- Utility bill in your name.
DOCUMENTS REQUIRED FOR FILING OF INCOME TAX RETURNS OF BUSINESS INDIVIDUALS
- Tax Deduction Certificate from Companies/banks / third parties, in case of tax deduction made from 01st July 2021 till 30th June 2022
- Summary of net sales invoices from 01st July 2022 till 30th June 2022
- Summary of expenses in business from 01st July 2022 till 30th June 2022
- Bank Statement from 01st July 2021 till 30th June 2022
- Detail of Business Assets as of 30th June 2022
- List of Personal Assets as of 30th June 2022
- Utility bill under name of business or tax filer
UNDERSTANDING THE INCOME TAX BASICS
Prior to the Registration and Filing of your Income Tax Return, it is suggestible that you should establish a basic understanding of these processes. Knowledge of basic concepts would not only ensure that the tasks are performed easily but also in a befitting manner.
Taxable Income means Total Income reduced by donations qualifying straight for deductions and certain deductible allowances.
HEAD OF INCOME
Under the Income Tax Ordinance, of 2001, all Income is broadly divided into the following five heads of Income:
- Income from Property
- Income from Business or Profession
- Capital Gains; and
- Income from Other Sources
- An individual is a Resident for a Tax Year if the individual:
- Is present in Pakistan for a period of, or periods amounting in the aggregate to, one hundred and [eighty-three] days or more in the tax year;
- Is present in Pakistan for a period of, or periods amounting in the aggregate to, one hundred and twenty days or more in the tax year and, in the four years preceding the tax year, has been in Pakistan for a period of, or periods amounting in the aggregate to, three hundred and sixty-five days or more; or
- Is an employee or official of the Federal Government or a Provincial Government posted abroad in the Tax Year?
- It is a Provincial Government or a local Government in Pakistan.
An Association of Persons, a Company and an Individual are Non-Resident for a Tax Year if they are not Residents for that year.
SOURCE OF INCOME IN PAKISTAN
Is defined in Sec. 101 of the Income Tax Ordinance, 2001, which caters to Incomes under different heads and situations. Some of the common Sources of Income in Pakistan are as under:
- Salary received or receivable from any employment exercised in Pakistan wherever paid;
- Salary paid by, or on behalf of, the Federal Government, a Provincial Government, or a local Government in Pakistan, wherever the employment is exercised;
- Dividend paid by Resident Company;
- Profit on debt paid by a Resident Person;
- Property or rental Income from the lease of immovable property in Pakistan; and
- Pension or annuity paid or payable by a Resident or permanent establishment of a Non-Resident.
FOREIGN SOURCE OF INCOME
Is any Income, which is not a Source of Income from Pakistan?
- An Individual;
- A Company or Association of Persons incorporated, formed, organized, or established in Pakistan or elsewhere; and
- The Federal Government, a foreign government, a political subdivision of a foreign government, or a public international organization.
- A Company as defined in the Companies Act, 2017;
- A body corporate formed by or under any law in force in Pakistan;
- A modaraba;
- A body incorporated by or under the law of a country outside Pakistan relating to the incorporation of Companies;
- An amendment has been made through Finance Act, 2013 to enlarge the scope of the definition of a Company. Now as per Income Tax Ordinance, 2001 a company includes:
- A cooperative society, a finance society or any other society;
- A non-profit organization; and
- A trust, an entity or a body of persons established or constituted by or under any law for the time being in force.
- A Provincial Government;
- A Local Government in Pakistan; and
- A Small Company
ASSOCIATION OF PERSONS
Includes a firm (the relation between persons who have agreed to share the profits of a business carried on by all or any of them acting for all), a undivided family, any artificial juridical person and any body of persons formed under foreign law, but does not include a Company.
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