It is very important to understand for all taxpayers, even a common man, how to file income tax return in Pakistan and how to become tax filer in Pakistan via E-filing in Pakistan or manual submission of Income tax return, as well as preparation of Assets and Liabilities statement which is known as “Wealth Statement”.
In Pakistan, almost double taxes / penalties for non-tax filer or who doesn’t file their income tax returns annually on time.
There are two methods to file your Annual Income Tax Return in Pakistan and become tax filer to save extra burden of taxes / penalties on the following cases:
1- Withdrawal Cash from banks
2- Vehicle registration, even new purchase of vehicle
3- Saving accounts profits and dividend / Capital gains from stocks / investments.
4- House or plot register, commercial or residential
5- Open Foreign Currency Bank Account
Methods to file your Annual Income Tax Return in Pakistan
2- Online Filing
Manual Filing Income Tax Return in Pakistan:
First of all, we would like to explain the manual process of filing of Income Tax Return in Pakistan.
You must have National Tax Number / NTN for submission of Income Tax Return. Download Income Tax Returns Forms / Purchase Income Tax Return forms from any stationery shops near to Income Tax Offices in Pakistan, Fill out the relevant columns or pages, at the end of every page, you must put signature on it and submit physically in any Income Tax office in your relevant City in Pakistan.
Online filing of Income Tax Return in Pakistan:
You must have valid CNIC / NTN, register your particulars on FBR database i.e. www.fbr.gov.pk, you will get the User ID, Password and PIN. Login on this website and fill all the relevant columns electronically, and submit your income tax return.
Electronic Income Tax Return is very technical, You must keep in mind, once the tax return submitted, you will not access to revise it, you can only revise with the permission of relevant Tax Authorities.
If you need to file your Income Tax Return, you may contact us for professional guidance and consultancy.
Tax & Corporate Consultants
Member Lahore Tax Bar Association
Office No. 1, Ali Centre, 2nd Floor, Lodhi Arcade, Near ICMA College, LOS Stop,
Mozang Chungi, Ferozepur Road, Lahore, Pakistan