Income Tax Returns

Pakistan has a progressive income tax system, where the more you earn, the higher the tax rate you pay. The Federal Board of Revenue (FBR) is responsible for collecting income tax in the country.

Income tax is levied on residents and non-residents on their taxable income earned in Pakistan. Taxable income includes salary, rental income, business profits, and capital gains.

There are several types of income tax returns that need to be filed by individuals and businesses in Pakistan, including:

Salaried Individuals: If you are a salaried individual with more than 600,000 rupees per annum, you need to file your income tax return by September 31st of each year.

Businesses: Businesses need to file their income tax returns by the end of September.

Non-Resident Pakistanis: If you are a non-resident Pakistani, you need to file your income tax return if you have taxable income in Pakistan.

Agricultural Income: Agricultural income is taxed differently in Pakistan and needs to be reported separately.

In addition to filing your income tax return, you also need to keep records of your income and expenses to ensure that you are reporting all your taxable income.

Bizcon.pk provides comprehensive income tax services to help you navigate the complex tax system in Pakistan. Our team of tax experts will assist you in filing your income tax returns accurately and on time, ensuring that you are in compliance with the tax laws of the country. Contact us today to learn more about our income tax services.