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]]>| Person | Due Dates |
| Individual & Association of Person (AOP) | On or before 30th September |
| Company | On or before 31st December |
| Company having a special tax year | On or before 30th September |
When is due date for this year filing
The Income Tax Due Dates in Pakistan are set by the Federal Board of Revenue (FBR) for various tax returns, payments, and filing obligations. Below is a general outline of key due dates for income tax filings in Pakistan:
1. Annual Income Tax Return Filing
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Individuals (Salaried, Businessmen, and Others)
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Due Date: September 30th of the tax year (i.e., for the tax year 2024, the due date is September 30, 2024).
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Extension: FBR may grant extensions for filing returns, typically for 30 days.
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Companies
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Due Date: September 30th for companies whose financial year ends on June 30th.
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Extension: Similar to individuals, the FBR may grant an extension for companies.
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2. Quarterly Advance Tax Payments
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Advance Tax for Salaried Individuals
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Due Dates: Advance tax is paid in four quarterly installments based on estimated income. The due dates are:
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1st Quarter (July to September): September 30th
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2nd Quarter (October to December): December 31st
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3rd Quarter (January to March): March 31st
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4th Quarter (April to June): June 30th
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Advance Tax for Companies
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Due Dates: Companies must pay advance tax in four quarterly installments. The deadlines align with those for individuals but are based on corporate financial cycles.
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1st Quarter (July to September): September 30th
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2nd Quarter (October to December): December 31st
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3rd Quarter (January to March): March 31st
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4th Quarter (April to June): June 30th
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3. Payment of Income Tax by Employers
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Salaried Individuals (Tax Deducted at Source)
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Due Date for Payment: Employers must deposit the tax deducted from employees’ salaries to the FBR by the 7th of the following month.
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Example: The tax deducted for the month of January must be deposited by February 7th.
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4. Tax Year End and Tax Filing Deadline
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Tax Year: The tax year in Pakistan runs from July 1st to June 30th of the next year.
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Tax Filing for Corporate Entities: Companies need to file their tax returns within 90 days of the end of their financial year.
5. Tax on Foreign Income (If Applicable)
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If you are a Pakistani resident earning foreign income, tax obligations for foreign income are generally included in the annual return.
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The due date for foreign income disclosure follows the same filing dates as the annual income tax return.
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6. Final Taxation on Non-Residents and Specific Income Sources
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For income such as dividends, interest, or royalties earned by non-resident individuals or companies, tax is generally withheld at source by the payee, and there are specific filing dates for tax reconciliation.
7. Filing of Wealth Statement
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Due Date: September 30th of the assessment year (for individuals whose annual income exceeds Rs. 1 million).
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Wealth statements must be filed in conjunction with the income tax return, especially for individuals with higher incomes or those holding significant assets.
Important Notes:
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Late Filing Penalties: If you miss the due date for filing returns or payments, you may be subject to penalties and interest charges.
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Extension Requests: The FBR allows individuals and companies to request an extension of 30 days beyond the original due date for filing returns.
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Electronic Filing: FBR requires electronic filing (e-filing) for income tax returns via their IRIS portal.
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]]>COMPLETING INCOME TAX RETURN
To complete online Income Tax Return a person must complete the Return of Income form and Wealth Statement (statement of assets & liabilities) form.
To facilitate the taxpayers, video tutorials on Income Tax Return filing are provided. Furthermore, Knowledge Base portal provides step by step written and video guides on filing Income Tax Return and Wealth Statement.
Successful submission of Income Tax Return and Wealth Statement in Iris is confirmed when both the forms have moved from the Draft folder to Completed Task.
RECONCILIATION OF WEALTH STATEMENT
Wealth Statement will only be successfully submitted, once current year’s wealth has increased/decreased from previous year’s wealth by the same amount as your income has exceeded/fallen short of your expenses. Failure to reconcile wealth statement won’t allow you to submit your Income Tax Return.
SALARIED PERSON – INCOME TAX RETURN
To facilitate salaried person in filing their Income Tax Return, Declaration form 114(I) has been provided. Salaried person would need to complete the Declaration form 114(I) in order to successfully submit their Income Tax Return.
Persons who are deriving income only from salary and other sources, where salary is more than 50% of Income can avail this form.
How to Become filer in Pakistan
What is FBR Pakistan?
FBR stands for the Federal Board of Revenue, which is the tax authority of the Government of Pakistan. The FBR is responsible for the administration and collection of federal taxes in Pakistan, including income tax, sales tax, customs duty, and federal excise duty.
What is a tax Filer ?
In the context of FBR, “Filer” refers to a person or entity who is registered with the Federal Board of Revenue (FBR) in Pakistan and is required to file tax returns and comply with other tax-related obligations under the tax laws of Pakistan.
Filers are classified into two categories:
- Active Taxpayer: An Active Taxpayer is a filer who has filed a tax return for the previous tax year and has paid all the taxes due.
- Non-Active Taxpayer: A Non-Active Taxpayer is a filer who has either not filed a tax return or has filed a tax return but has not paid all the taxes due.
Why to Become Filer
Becoming a filer in Pakistan is an important step towards ensuring compliance with tax laws and regulations. A filer is a taxpayer who has registered with the Federal Board of Revenue (FBR) and files an income tax return. Filing a tax return not only fulfill your civic responsibility but also has various benefits, such as the ability to apply for a loan, visa, or trade license. If you’re looking to become a filer in Pakistan, our filer registration service can help you navigate the process and ensure compliance with tax laws.
tax returns must be filed annually for an individual or business
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]]>Who is eligible for filer in Pakistan?
Persons who are deriving income only from salary and other sources, where salary is more than 50% of Income can avail this form.
- Open FBR IRIS portal, click on registration for an unregistered person and give all relevant information.
- Open the IRIS portal again and click on e-enrolment from the different options.
- Enter all the details such as you CNIC, mobile number etc to complete registration process.
- Step 1: Obtain an NTN Number. In order to become a filer and included in the active taxpayers list (ATL), a person needs to know if they already have an NTN or not. …
- Step 2: Registration for Unregistered Person. …
- Step 3: Form Filling. …
- Step 4: E-Enrollment for Registered Person.
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