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Annual Income Tax Return filing of Salaried Individual

Who is required to register?
  • A person who has obtained National Tax Number (NTN);
  • A person earning salary Rs. 600,000/- Annually or more required to file Tax Return;
  • A person who owns a motor vehicle having engine capacity 1000cc or above;
  • A person has been charged to tax in last 2 years;
  • A person who owns property measuring 500 Square Yard or more, a flat located in areas falling within the municipal limits, a Cantonment Board, or the Islamabad Capital Territory; and
  • A Person who owns a flat having covered area of 2,500 Square Feet or more located in a rating area.
Benefit
  • It creates civic sense in the society;
  • It allows the adjustment of tax already deducted in Electricity Bills, Telephone, Internet, Air Ticket & Educational expenses; and
  • Lowers the withholding tax as compared to Non-Filers.
Consequences for Non-Registration
  • Legal Non-Compliance;
  • The name of taxpayer will be excluded for active tax payer list;
  • Confiscation of Bank Account/ Vehicle/ Immovable Property; and
  • Such person shall be liable to penalty 0.1% of the tax payable in respect of that tax year for each day of default subject to a maximum penalty of 50% of the tax payable provided that if the penalty calculated is less than Rs. 40,000/- or no tax is payable then in such case a taxpayer is liable to be pay a penalty of Rs. 40,000/-.

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    Attachments

  • Pay Slip for the relevant tax year

  • Details of Other Income sources if any

  • Annual personal expenses

  • Details of all owned assets (Movable and Immovable) at the end of relevant tax year

  • Details of Addition/ Deletion of the Assets during the relevant tax year

  • Other information as required


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