TO WHOM FILING OF INCOME TAX IS COMPULSORY

Following Pakistan’s law tax law, all citizens, individuals, as well as businesses of Pakistan with an annual income of Rs. 400,000 and above are needed to file their tax returns yearly. When you have filed your tax before the deadline announced by the FBR(Federal Bureau of Revenue), then your name will be added in Active Payers List, generally known as the Active Taxpayer List (ATL). ATL lets you utilize the benefits of paying lower taxes on financial matters for example bank transactions, sale or purchase of vehicle and property, etc. Salaried individuals whose tax is subtracted at source do not automatically assume the filer status. You can only become a filer when you file your tax return.

By clarifying easy questions and entering important values, you will be getting closer to the last preparation of your tax return.Get in touch with Spectrum consultancy for knowing the Information required to submit Tax Returns to find out what information is required. In order to complete the preparation of the return and review the return, you can reach out to us anytime.

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