Want to know how to file income tax return online? In this article, I will explain the full method of filling out income tax return 2023 online in a step-by-step process.
Under section 114A of the Income Tax Ordinance, 2001, salaried individuals are not required to update their tax profiles, according to a clarification by the Federal Board of Revenue (FBR).
Only people applying for registration under section 181 of the Income Tax Ordinance 2001, including salaried individuals, are required to update their tax profiles. Users can click on the “Tax Profile” option to verify changes for the submission of changes made in the profile.
The last date of submitting Taxpayer’s Profile has been fixed to September 30, 2023.
Last date to file income tax return online is fixed as September 29, 2023 by FBR
The Federal Board of Revenue (FBR) has allowed taxpayers to file online appeals against tax-related decisions, according to a report published in a leading English newspaper Express Tribune. The facility to electronic appeals, which is being hailed as a step towards FBR’s automation, has been launched with effect from January.
It is also worth mentioning the tax authority collaborated with Pakistan Revenue Automation Limited to develop the software for filing online appeals. As per the report, the new automated system will enable aggrieved taxpayers to file electronic appeals on the FBR’s Iris web portal.
Before you get into the details that how to file income tax return online, first you must know how to become an income tax filer. Once you are an income tax filer, it is easier to file income taxes online. Let us take you through the step-by-step process of filing income tax returns.
HOW TO FILE INCOME TAX RETURN ONLINE
The process of filing income tax returns online has become fairly easy. Now, anybody can easily file their taxes online by visiting the Federal Board of Revenue website. Here is how to file income tax returns online in Pakistan.
HOW TO LOGIN TO IRIS PORTAL AND FILE INCOME TAX RETURN ONLINE
- File income tax returns by first logging into Iris. Iris is an online portal where the income tax return is filed. Enter your username and password
- In case you forget your password, click on ‘Forgot Password
- Once you have successfully logged into the portal, click on ‘Declaration’ menu at the top of the portal
- Select the tab under Forms which states: ‘114(1) Return of Income Filed Voluntarily for 1 Year)’
- Click on the Period tab, where you have to enter the Tax year
EMPLOYMENT SECTION
- Now, a page will open up, where you click on Employment section
- Select Salary Tab
- Enter the annual income in salary in the Total Amount section
- If the salary you have includes the amount that is exempted from tax mention it under the heading ‘Amount exempt from tax’
- Once you are done click on Calculate button
- Provide total tax, amount exempt from tax and subject to final tax in input fields and then click on Calculate button
ADJUSTABLE TAX AND THE AMOUNT OF TAX DEDUCTED
- Click on Tax Chargeable/Payments tab and select Deductible Allowances tab where any amount that is deducted in the name of Zakat or charitable donations should be entered
- Fill out Tax Chargeable, Tax Reductions, Adjustable Tax and Tax Credits field
- On Adjustable Tax screen you need to fill out the details of the taxes that have already been taxed or charged to you during your tax year
- If you are a federal government employee, then enter tax amount against 64020001 code
- For provincial government employees, enter the tax amount against 64020002
- If you are a corporate sector employee, then enter your tax amount against 64020003 code
- You can also adjust the tax deducted by your bank on various sections like when you withdraw cash from bank in 64100101. Other banking transactions like any bonds or savings should be entered in the code 64151501.
- You can also adjust the tax deducted by your bank on motor vehicle registration fee, transfer fee, sale and leasing against their respective codes
- A dialogue box shall appear asking for vehicle details like E&TD Registration No. and provide further details related to its make, model and engine capacity. Once you are done with it then click on Calculate Tab button
TAX CHARGEABLE/PAYMENTS
- Select Tax Chargeable/Payments tab and you will see all the details of your income and chargeable tax
- Check out the tabs Admitted Income Tax and Demanded Income Tax
- If you find any amount against the Demanded Income Tax tab then you must pay it and attach relevant CPR
NET ASSETS
- Click on Personal Assets menu to provide information about your assets
- Enter the total amount for the previous year net assets and also of the current year
- Enter the amount of annual income in the inflows and outflows field
- Click on the Calculate button after filling out all the details
- The ‘Unreconciled Amount’ must be zero when submitting income tax returns
PAYMENT FOR DEMANDED TAX
- When you have paid the Demanded Tax either through Alternative Delivery Channel (ADC) or through cash by visiting any authorized branch of National Bank of Pakistan, then you need to submit the details of your returns in the following steps
- Select Payments tab and click on the + sign on top right corner
- A dialogue box shall appear asking for payment details
- Enter CPR no. Amount Code or Paid Amount and click on search option
- The entire list of details of your payment will appear, click on the OK button and then save
VERIFY INCOME TAX RETURN FORM AND SUBMIT IT
- Once you have added and calculated all required fields, you should now verify your identity.
- Your name and registration number shall already be populated
- Enter the verification pin that was given to you at the time of registration and click on Verify Pin tab
- Once you are given the details, you can now file income tax returns by clicking on the Submit tab
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