FBR Income Tax Return Filing
FBR Income Tax Return 2023
eFile FBR Tax Return to Become a Filer
FBR Income Tax Return eFiling best Lawyers in Karachi, Islamabad, Lahore
Income Tax Filing: Karachi & Islamabad are on top in Income Tax Return Filing in Pakistan. Income Tax Lawyers efile income tax returns on FBR site. Income tax return filing is a national responsibility. Income tax lawyers in Karachi, Islamabad, Rawalpindi and Lahore efile 87% tax returns of taxpayers in Pakistan.
Income Tax Return eFile FBR best Lawyers of Karachi, Islamabad, Lahore
Income Tax Slab 2023
Income Tax Slab For Tax Year 2023:The maximum Income tax rate for salaried, business individuals and AOPs is 5% to 35% while the income tax rate for companies is 29% and for small companies, income tax rate is 21%. Non-residents are to pay 35% income tax.
Periods and Due Dates for Tax Filing in Pakistan
A tax year starts on 1st July and ends on 30th June, every year. Last date for filing of income tax returns to the FBR Pakistan is 30th September.
When you file your tax return, you need to make sure that the following information is included:
- Date of issue or receipt of challan*
- Serial number in case of cheque payment
- Amount paid as tax (or deducted at source)
Payment of Tax Liability
When an individual files his/her income tax return, the FBR will calculate the amount of tax he/she has to pay. This is his/her income tax liability. For example, if you are earning Rs. 50,000 per month on which you have paid Rs. 10,000 as withholding tax then your total income (before any deductions) would be Rs. 10,000 + 50,000 = 60,000 and the total income tax payable by you would be 60% of this amount i.e., 30%*60%, that is 18600 + 10800 = 30400 and so on…
However it is possible that during filing your return online or offline through challan 280 or through website after submitting all required documents & completing all formalities then you may come across some error while filing your return due to which some information related to calculation of taxes may not reflect correctly in challan 280 or website . In such cases where there might be errors in calculations so one can contact FBR helpline numbers for correcting these issues & getting proper guidance about how best solution can be found out for getting details corrected properly
Requirements and Required Data Points
To file your ITR, you’ll need the following documents:
- Your CNIC (National ID card) and NTN (National Tax Number). If you don’t have a CNIC, we can help you get one.
- The bank account number where your income was deposited.
- Your taxable income for the year in question. This is usually earned from employment or business activities, but it could also include capital gains or property income as well.
How to file income tax in Pakistan
The FBR has established a website where you can file your income tax online. The website is available in English, Urdu and Pushto languages. You can visit their website and use the services offered by them to file your income tax online. You will be required to register on the site before you start filing your taxes.
If you are not comfortable with using a computer or laptop, then there is an option of filing taxes through mobile phones in Pakistan as well. The Federal Board of Revenue (FBR) Mobile App provides an easy way for taxpayers to submit their tax returns from anywhere at any time without having access to the internet or even a computer/laptop device! It makes it convenient for taxpayers who would prefer not having any hardware at all while submitting their IT returns including but not limited to:
- Farmers who do not have personal computers;
- Students who are unable to purchase expensive laptops;
- Businessmen who don’t want to waste money on hardware when they could just use what they already own (e.g., smartphones).
Tax filing can be easy
Tax filing can be simple and convenient. You have options for filing your taxes on your own, or you can hire a tax lawyer to help you file your return. Either way, it’s important to do it every year so that the government is aware of all of your income sources and any deductions or credits that you may be eligible for.
If you’d like to file your taxes on your own, there are plenty of resources available online for doing so at no cost (see Resources). These resources will walk you through how to fill out each section of the form, either by typing in numbers or downloading them from various financial institutions. They’ll also give advice about how many exemptions and deductions apply to each person’s situation—and if someone qualifies for more than one type of exemption or deduction under certain circumstances; this often happens when someone has multiple jobs during the year with varying incomes earned over different time periods (for example: working full-time during January through April might mean they qualify as “full-time” while working part-time during May through December would mean they don’t).
For those looking at hiring an attorney instead but don’t have much experience filing their own taxes due largely because they’ve never done so before, then hiring an attorney would allow them more flexibility regarding what kind(s)