File your Income tax Return
Do you have to pay more taxes on being non-taxpayer? Do you want to reduce your tax bill by becoming a taxpayer or do you need to claim a tax refund? Are you so busy that you don't have time to think about responding to tax notices? If you don't file a tax return, you may have to pay an additional tax when you register, buy, or transfer a car. You will also have to pay double tax on the purchase and sale of the property.
ü In addition, non-consolidated entities are subject to Real Estate & Transfer of Property Laws double taxation on their business activities (e.g., providing services, selling goods, entering into contracts). To avoid being taxed twice, you must become a taxpayer. A taxpayer is a person whose name appears on a valid list of taxpayers by filing an annual income tax return and a wealth tax return.
Steps to follow
Register for IRIS
Register for IRIS, the online tax filing portal, and file your tax return online. If you are a first-time tax filer, you will need to register before you can file your tax return. Once you have registered, you will be able to access Iris to complete your tax return. If you have received a National Tax Number (NTN) or Registration Number and do not have the login information to register with Iris, click on "E-registration for registrants" to access it.
IRIS access password
When you
register electronically with the Federal Board of Revenue (FBR), you will be
assigned a registration number or NTN and a password. Enter your Registration
Number or NTN and password to access Iris.
Reset your password
If you need to reset your password to access Iris, you can do so by clicking on "Forgot Password" on the Iris login screen. Please fill in all required fields. A code will be sent to your email address and cell phone number. Enter the code in the appropriate field. A new window will open allowing you to reset your password.
Change your IRIS password
You can
change your password by logging into Iris and clicking on "Change
Password" in the upper right corner of the screen. Enter the required
information in the dialog box that opens.
Preparing your tax return
To complete your tax return online, you will need Cyber crime Punishment Of Pakistan Cyber crime Punishment Of Pakistan to prepare a tax return and a wealth statement (statement of assets and liabilities). To make it easier for taxpayers, the FBR Knowledge Base portal provides step-by-step instructions and video tutorials on income and wealth tax returns. Once the income tax return and wealth tax return have been moved from the Iris Drafts folder to the Completed Tasks folder, both forms have been successfully accounted for.
Reconciliation of Wealth Tax Returns
If your
income is greater than/less than your expenses and your assets have
increased/decreased by the same amount this year as last year, you can
successfully file an estate tax return. If you do not file an estate tax
return, you will not be able to file a tax return.
Employees: Income tax return
To facilitate the reporting of employees' income, the 114(I) Declaration Form has been introduced. Employees must complete the 114(I) Declaration Form to file their tax return. This form can be used by individuals who only receive allowances or other sources that exceed 50% of their income.
Changing the IRIS PIN
To
change the PIN, go to "Iris" and click on "Change PIN" at
the top of the screen. Enter the required information in the dialog box that
opens.
Completing the tax return
Tax returns can be amended to correct oversights or errors that are subsequently discovered within five years of the original filing. To amend a tax return that has been filed, an amended return must be submitted to Iris. Once approved, you may file an amended return with Iris.
Amended Tax Return
Changes
to capital assets (statement of assets and liabilities) can be made in Iris
without seeking approval of the amendment until the notice required by Section
122(9) of the Income Tax Regulations, 2001 is received.
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