Income Tax Compliance Services

Filing of Income Tax Return / COMPLIANCE

• E-filing of withholding tax statements on the month to month basis within the given timeframe

• The advice in computing advance income tax on a quarterly basis and the related intimation to the department

• The advice in computing capital gain tax and the related intimation to the department

• Preparation of income tax provisions of the company

• Computation of total income of the taxable person and tax thereon

• Preparation and filing of Annual Income Tax Return of the Company, AOP

• Compliance of legal notices in connection with withholding tax audit proceedings under Income Tax Ordinance, 2001

• Compliance of legal notices in connection with income tax amendments proceedings

• Preparation of income tax return of an individual

What is Income Tax?

Tax is an involuntary fee imposed on an individual or a corporation by the federal government. It can be local, regional, or even national. Income tax is a highly consistent form of taxation. According to the prevailing law, all Persons must file income tax every year, which comes under the liable Persons for filing Income Tax returns.

The government collects Income Tax for the utilization of this fund on those works, which are the most important at that time. Tax Care is one of the best income tax consultants in Lahore, assisting the clients with matters on taxation. Income tax helps out to reduce the economic disparity of any country. Tax rates and calculation techniques to calculate taxable income are always different as per the financial status of the Taxpayer. Taxpayers are of several types; some of them are as follows.

• Companies

• Association of Persons (AOP)

• Salaried individuals

• Non – Salaried Individuals

For an individual, Filing an income tax return in Pakistan is a tiresome and unexciting process for an individual who wished to file its Tax Return. Preparing Tax Return involves lengthy and tricky methods to calculate taxes and writings, for which people spent too much time on the solution. It usually becomes an annoying experience for the person who works on it. The reasons behind Things that used in these calculations are generally not aware of the general public. Further, there is always a deadline for filing Tax Returns for which the process becomes more uncomfortable. The details on income tax return filing in Pakistan issued by the Federal Board of Revenue, Pakistan.

Who Needs To File Income Tax Returns in Pakistan?

• Every registered company in Pakistan

• An individual (other than a company) who has a taxable income exceeds the minimum limit, which is Rs. 400,000/- (Four Hundred thousand Rupees only)

• A non-profit organization commonly called NPO

• A welfare institution.

• An individual who is the owner of immovable property with a specific area (two hundred and fifty square yards or more)

• Every individual who is the owner of Motor Vehicle above 1000 CC Engine capacity.

• Every individual who has a National Tax Number

• Every individual which owner of commercial or industrial electricity connection.

Benefits of Income Tax Return filing in Pakistan

• Help to avoid Penalties

• Claim Tax Refunds

• Proof of Legal Income and Address

• Helpful in Easy Loan processing from banks

• Helpful during Application of visa processing for reconciliation of income

• Carry forward losses

What are Tax Refunds?

A Person can claim refunds if he has filed his income Tax return online. The manual filer of income tax return is not entitled to get any refund.

Your Income Tax Refund amount should clearly state in FBR online System (IRIS). Applications for refunds are filed separately in FBR online IRIS system within two years from the date of filing return or Tax Payment date, whichever is later, and for the status of Application Taxpayer has to visit his Regional Tax Office in FBR.

Income Tax Due Dates

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