Tax Return Filing for Tax Year 2023

Tax Return Filing for Tax Year 2023

Tax Return Filing for Tax Year 2023

Tax year 2023 requirement for income tax return and Wealth Statement filing

Tax Return Filing for Tax Year 2023: The filing of income tax return for tax year 2023 (Tax period: 01-07-2022 to 30-06-2023) will start from July 01, 2023 and will remain continue till September 30, 2023.

As per Income Tax Ordinance, 2001, all taxpayers, other than corporate entities, are required to file their annual Income Tax Returns / Wealth Statements on or before September 30 every year. We would be pleased if, your good self will provide all the relevant details mentioned below as soon as possible.

INCOME TAX RETURN

Salaried Individual

  • Salary tax deduction certificate or salary slips
  • Foreign Remittance Certificate
  • Any other Source of Income (if, any)
  • Bank statements (Personal)
  • Evidences of withholding taxes paid such as: Mobile, PTCL, Vehicle taxes
  • Taxes paid on sale / purchase of properties
  • Education fees along with taxes paid on fees
  • Certificate from bank against tax deduction on cash withdrawal/ profit Rent detail, fixed deposit against rent, if any.
  • Capital gain tax in case stock & shares transaction
  • Copies of Dividend certificates
  • Detail of agricultural income, if any Any kind of changes in wealth.

Business Individual

  • Sales / Purchase detail
  • Foreign Remittance Certificate
  • Detail of agricultural income
  • Any other Source of Income (if, any)
  • Bank statements (Personal / business both)
  • Electricity, Telephone, Gas, Water, Mobile bills
  • Evidences of withholding taxes paid such as: Mobile, PTCL, Electric, Vehicle taxes
  • Taxes paid on sale / purchase of properties
  • Education fees along with taxes paid on fees
  • Certificate from bank against tax deduction on cash withdrawal/ profit.
  • Certificate from companies/firm who deducted tax against payments.
  • Addition in fixed assets and any disposal / sales
  • Turnover, advance tax, u/s. 236-G/236-H/ turnover taxes paid challans.
  • Accounts, if maintained such as receivables / payables.
  • Rent detail, fixed deposit against rent, if any.
  • Copies of GDs in respect of Imports / exports.
  • Capital gain tax in case of stock & shares transaction

PERSONAL EXPENSES

Personal expenses include the followings:

  • Electricity bills / Telephone bills / Mobile bills / Gas / water bills
  • Education fee receipts / Travelling expenses / Function and gathering
  • Zakat / Donations / Details of foreign trips (Non business)
  • Other House hold expenses / Contribution by family members

Documents Required For Tax Return 2023

  1. Total salary income from July 2022 to June 2023 as per salary slip
  2. Tax deduction on salary 2022-2023
  3. Income from profit on bank accounts/deposits
  4. Tax deduction bank deposits
  5. Any change/addition/sales in property or plot
  6. Any change/addition/sales in motor car/motor cycle
  7. Any bank account opened during 2022-2023
  8. Any bank account closed during 2022-2023
  9. Bank statement 2022-2023 with closing balances as on June 30, 2023
  10. Loan taken from any person or family member
  11. Any business income
  12. Any other income
  13. Sales /purchase of assets during 2022-2023
  14. Detail of gift received along with gift deed
  15. Any property or share in property received from inheritance
  16. Foreign remittance received from abroad

Please provide all documents through email

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