Awan Tax Consultant

Faqs

You can file your income tax return online through the FBR’s IRIS portal or manually by submitting the return at the tax office.

The deadline for filing income tax returns in Pakistan is usually September 30th of the year following the tax year.

Common documents required include CNIC, salary slips, bank statements, rent receipts, investment proofs, and utility bills.

You can check your income tax return status online through the FBR’s IRIS portal by logging in with your credentials.

The penalty for late filing of income tax returns can range from a fixed amount to a percentage of the tax liability.

Income tax is calculated based on the applicable tax slabs and rates. You can use the tax calculator provided by the FBR or consult a tax professional for accurate calculations.

Yes, salaried individuals can avail tax deductions on contributions to pension funds, medical insurance, and donations to charitable organizations, among others.

You can claim tax refunds by filing your income tax return and mentioning the excess tax paid, which will be refunded after assessment by the tax authorities.

Individuals earning below the taxable income threshold are not subject to income tax.

Yes, residents of Pakistan are required to pay tax on their worldwide income, including foreign income.

You can obtain a National Tax Number (NTN) by applying online through the FBR’s IRIS portal or by visiting the nearest tax facilitation center.

To become a tax filer in Pakistan, you need to file an income tax return for the relevant tax year and fulfill the criteria set by the tax authorities.

Yes, you can file your income tax return online through the FBR’s IRIS portal.

A tax filer is an individual or entity that has filed an income tax return, while a non-filer has not filed a return for the respective tax year.

Capital gains tax rates vary based on the type of asset and holding period. Consult the tax laws or a tax professional for specific rates.

Yes, senior citizens can avail certain tax exemptions, such as a higher threshold for taxable income and reduced tax rates.

You can update your contact information by visiting the tax facilitation center or through the online portal provided by the FBR.

To file a revised income tax return, you need to submit a revised return within the specified time limit and provide valid reasons for the revision.

Property owners are required to pay property tax, capital gains tax on property transactions, and other applicable taxes related to property ownership.

You can pay your income tax online through the FBR’s IRIS portal by generating a tax payment challan and making the payment through online banking.

Yes, the government provides tax incentives and exemptions for investments in specified sectors to promote economic growth and development.

Yes, you can claim tax deductions for qualifying medical expenses, including medical insurance premiums, medical bills, and certain treatments.

Employers deduct withholding tax from employees’ salaries based on the applicable tax rates and deposit it to the tax authorities on their behalf.

You can obtain a tax clearance certificate by applying to the tax authorities and providing the required documents to prove tax compliance.

Freelancers and self-employed individuals are required to file income tax returns and pay taxes on their earnings based on the applicable tax rates.

You can register as a taxpayer with the FBR by applying online through the IRIS portal or visiting the tax facilitation center.

The procedure for filing sales tax returns involves providing details of sales and purchases, calculating tax liability, and submitting the return through the FBR’s online portal.

Yes, donations to registered charitable organizations in Pakistan are eligible for tax deductions.

Yes, certain education expenses, such as tuition fees and educational institution donations, are eligible for tax deductions.

The tax rate for companies in Pakistan varies based on their annual turnover and legal status. Refer to the tax laws or consult a tax professional for specific rates.

You can file your wealth statement along with your income tax return, providing details of your assets, liabilities, and net worth.

The procedure for obtaining a Sales Tax Registration Number (STRN) involves applying to the tax authorities and fulfilling the required documentation and criteria.

Agricultural income is generally exempt from income tax in Pakistan, subject to certain conditions and limitations.

Yes, married individuals have the option to file a joint income tax return or separate returns based on their preference.

Tax audits are conducted by the tax authorities to ensure tax compliance. The procedure involves providing relevant documents and cooperating with the audit process.

Property tax is calculated based on the property’s assessed value and the applicable tax rate set by the local government authorities.

Dividends received from shares are subject to withholding tax, and the applicable tax rates vary based on the type of dividend and recipient.

Yes, the government provides tax incentives and relief measures for small businesses, such as reduced tax rates and simplified tax procedures.

You can report tax evasion or tax fraud to the tax authorities through their designated channels, such as helplines or online complaint portals.

The procedure for filing a complaint with the tax authorities involves submitting a written complaint providing details of the alleged tax misconduct.

Yes, tax losses can be carried forward for a specified period and offset against future taxable income, subject to certain conditions and limitations.

You can claim tax credits for foreign taxes paid by providing the necessary documentation and information in your income tax return.

Yes, the government offers tax incentives, such as reduced tax rates on capital gains, to promote investment in the stock market.

Rental income is subject to income tax, and the applicable tax rates vary based on the type of property and rental income threshold.

You can update your tax registration information by visiting the tax facilitation center or using the online portal provided by the tax authorities.

Yes, the government provides tax incentives, such as tax credits and exemptions, for investments in green energy projects.

Income from investments in mutual funds is subject to withholding tax, and the applicable tax rates vary based on the type of income and mutual fund.

You can request a tax refund for excess tax paid by filing an application with the tax authorities and providing supporting documents.

Yes, you can claim tax deductions for home loan interest payments subject to certain conditions and limitations.

The procedure for appealing against a tax assessment involves submitting an appeal to the relevant appellate authority within the specified time limit and providing grounds for the appeal.