Author: Advocate Shahid

Income Tax Return for E-commerce Businesses in Pakistan, there are certain requirements for businesses to register for e-commerce and submit income tax returns annually in Pakistan. Companies operating in e-commerce in Pakistan have to be registered with the Federal Bureau of Revenue (FBR) and file income tax returns every year. Income tax is levied on…

The primary Benefits of Filing Tax Return in Pakistan is that it officially records your income, puts you in a better compliance position with the Federal Board of Revenue and may help you prevent you from receiving a higher withholding tax treatment for non-active taxpayers. Not everyone who is a filer is just about paying…

To accurately complete FBR returns on IRIS Portal, there is a need for precision, otherwise steep penalties under Section 182 will be imposed. Typographical errors are most commonly: Mismatched “Receipt Value”:  Wealth Reconciliation Discrepancies Missing Withholding Taxes Late Filing or Incomplete Declarations What Are the Most Common FBR Tax Return Errors? The table below provides…

Income Tax Return for Amazon Sellers in Pakistan. The Federal Board of Revenue (FBR) has directed the Pakistani Amazon Sellers to declare their income all over the world. The registration for an NTN, filing of annual income tax returns and payment of income tax on net business profits are mandatory. If you are selling a…

Income Tax Return for YouTubers in Pakistan, when Pakistan’s YouTubers earn money from overseas, the amount is put under the 5% withholding tax by banks and they have to declare their income in the annual tax return. The Federal Board of Revenue (FBR) has also asked resident artists to pay advance tax on a quarterly…

As per the provisions of the Income Tax Ordinance, 2001, Lawyers, Advocates, Legal Consultants and Law Firms are obligated to register for income tax if they are covered by the income tax filing period of the said Ordinance. Income Tax Return for Lawyers Pakistan is a simple way to state a return that is made…

All the doctors in Pakistan such as Salaried Doctors, Self Employed, Private Consultants, Clinic Owners, Surgeons, Dentists, Specialists, Hospital Consultants (Consultant Doctors) may have to submit annual income tax return on FBR IRIS portal. Income from a private practice, clinic income, hospital consultant fee, bank balances, assets and reconciliation of wealth should all be included…

Overseas Pakistanis, who have Income from Pakistan, Business Income, Income from Taxable Property, Bank Profit or Capital Gains or who desire to become an active taxpayer/filer for lower rates of withholding tax may be required to file an income tax return in Pakistan. The return is submitted electronically via FBR’s IRIS system typically in conjunction…

Income Tax Return Status Check in Pakistan by E-FBR Verification System on FBR Iris Portal or by SMS. To verify on the phone, send a message to ATL [space] 13-digit CNIC (no dashes) to 9966, which is known as Active Taxpayer List (ATL). Important Steps to Check your Return Status Method 1: Online FBR Iris…

To Download Income Tax Return Copy from FBR IRIS in Pakistan is an easy process normally. You must log in to your FBR IRIS account, go to your filed income tax return for the respective tax year and then print or save as PDF. Careful preservation of the return copy, acknowledgement slip and wealth statement…

Most Income Tax Return Mistakes to Avoid in Pakistan occur when taxpayers file their tax return hastily; blindly accept data provided by IRIS; use the wrong tax year, leave their wealth statement unchecked; claim withholding tax incorrectly or forget to include it; submit tax return without checking ATL, NTN, CPR, PSID and personal details. The…

In Pakistan, the only way to revise an income tax return is to log into the IRIS portal of the Federal Board of Revenue and file an application for the revision of the income tax return as per Section 114(6) of the Income Tax Ordinance, 2001. Once approved (or determined approved as applicable) the revised…