Income Tax Return 2026 Pakistan
An income tax return in Pakistan is a
form under Section 114(1) of the Income Tax Ordinance in which a taxpayer
declares his total income (from all sources i.e., salary, business, rent,
agriculture, foreign income, capital gain, profit from bank), expenses, taxes
paid, and assets held by him during a financial year, and calculates the tax
payable or refundable according to the Income Tax Ordinance 2001.
Every individual or organization must
file the income tax return every year between July and September. The last date
for filing the income tax return has been officially set as 30th September of
every year.
Tax Year
The tax year in Pakistan is a period
of 12 months starting from July and ending in June for the relevant tax year.
From the following table, you can easily understand the period of each tax
year:
|
Tax Year |
Period |
|
2023 |
1st July 2022 to 30th June
2023 |
|
2024 |
1st July 2023 to 30th June 2024 |
|
2025 |
1st July 2024 to 30th June 2025 |
|
2026 |
1st July 2025 to 30th June 2026 |
Person Required to file Income Tax
Return
Every individual or organization who
meets one of the following conditions has a legal responsibility to file an
income tax return:
1.
Having
a National Tax Number (NTN)
2.
Company
registered with SECP
3.
Individual
whose annual income exceeds the minimum taxable income amount (Rs. 600,000/-)
not chargeable to tax
4.
Non-Profit
Organizations, NGOs, Government institutes, etc.
5.
Individual
whose income for the year is subject to final taxation under any provision of
this Ordinance
6.
Any
person who owns property of 500 square yards or more land area or owns a flat
located within any municipal limits
7.
Any
person who owns a motor vehicle having an engine capacity of more than 1000 CC
8. Individual having a commercial electric meter in his
name
Documents Required to
File Income Tax Return
This is a common question
among taxpayers regarding what documents are required to file an income tax
return. The following documents may be required:
|
|
Required For |
|||
|
Documents Required |
Salaried |
Business |
Rental |
Other source |
|
Pay slips of complete
relevant tax year (for 2026, from July 2025 to June 2026)
|
Yes |
No |
No |
No |
|
Tax Deduction certificate
From Employer
|
Yes |
No |
No |
No |
|
Bank Statement of all bank
accounts of relevant tax year (For 2026, From 1st July 2025 to 30
June 2026).
|
Yes |
Yes |
Yes |
Yes |
|
Advance tax paid on vehicle
registration, Property Purchase, Cash Withdrawal, Cell phone, internet bill,
Commercial Electric Meter, etc.
|
Yes (If Any) |
Yes (If Any) |
Yes (If Any) |
Yes (If Any) |
|
Detail of any other income
for example Rental, Bank Profit etc.
|
Yes (If Any) |
Yes (If Any) |
Yes (If Any) |
Yes (If Any) |
|
Tax deduction certificates
from customers if any
|
No |
Yes (If Any) |
No |
No |
|
Rent Agreement In case of
Rental Income |
Yes (If Any) |
Yes (If Any) |
Yes |
Yes (If Any) |
|
Details of Other Source Income |
Yes (If Any) |
Yes (If Any) |
Yes (If Any) |
Yes |
|
Details of assets on his
name if any for example; Property (Address , Size with measurement unit, Purchase
date and amount) Vehicles
(Registration number, Make and
Model, Purchase date and amount) Gold (Quantity and Amount) Any
Other assets cash in hand, animals,
Personal items, Houshold effects etc |
Yes (If Any) |
Yes (If Any) |
Yes (If Any) |
Yes (If Any) |
Documents are only required
to ensure that all income, expenses, and assets are declared as per the
records. while filing income tax return, no document is required to be attached.
You can submit the income tax return without documents.
Consequences to not file
Income Tax Return
1. You cannot maintain filer status
2. You can face the notice for FBR
3. You can face penalties for not filing income tax return as per law
4. You have to pay more tax on cash withdrawal, Bank Profit, Property or vehicle purchase.
5. Less credibility to the business as filer status is required for every business deal
When and where to file
Income Tax Return
Every individual and
organization after getting registered with FBR iris portal having link https://iris.fbr.gov.pk/login can file
income tax return every year by themselves or with the help of consultant. Income
Tax Return Filing Starts from July and ends on 30th September of every
year. Deadline can be extended by the FBR.
Conclusion
To Maintain the filer status, taxpayers are required to submit their income tax return before the deadline. If you will file the return after deadline to will
get late filer status which may cause more tax on property purchase.
