When to File Income Tax Return

A lot of taxpayers are filing and about to file Income tax returns but based on types of businesses / status of business entity in Pakistan the questions When to File Income Tax Return in Pakistan have different answers each based on structure of companies/ businesses incorporated in Pakistan.

How to file Income Tax Return in Pakistan becomes more relevant where you know when to File Income tax Return as Income Tax Ordinance speaks clearly on timing and due dates of tax return filing for different taxpayers.

A return of income under section 114, a statement required under sub-section (4) of section 115 or a wealth statement under section 116 shall be furnished in the prescribed manner.

When to file Income Tax Return, in case of a Company?

A return of income under section 114 or a statement under sub-section (4) of section 115 of a company shall be furnished

1. In the case of a Company with a tax year ending any time between the first day of January and the thirtieth day of June, on or before the thirty-first day of December next following the end of the tax year to which the return relates

Explanation:

If the tax year ends between 1^st January and 30 June then the last date of Income Tax Return filing, in case of a company, will be on or before of 31^st December.

2. In any other case, on or before the thirtieth day of September next following the end of the tax year to which the return relates.

Return Filing for Other than a Company

A return of income for any person (other than a company), or a statement required under sub-section (4) of section 115 shall be furnished as per the following schedule, namely:

• Last date of tax return filing will be 31^st August in the case of statement u/s 115(4) or return filing through e-portal of a salaried individual
• In the case of a return of income for any person (other than a company), as described above, on or before the 30^th day of September next following the end of the tax year to which the return relates

When Wealth Statement should be Filed?

A wealth statement shall be furnished by the due date for furnishing the return of income for tax year or on the date required by notice.

What should you do?

Now as per status of your business entity (company, other than a company), classification of your income (business income, salary income) your dates are different or tax year end, your return filing due dates are different and the taxpayers should be extra cautious in meeting deadlines of return filing to avoid any un-comfortable situation.

We are providing Tax Return Filing Services for our clients for more than 10 years. We believe that our responsibility doesn’t end at Return Filing Stage but we also guide/ give advice on how to move forward on ever changing tax laws and regulations and pursue the tax proceedings process before all Income tax authorities.

Feel free to contact us for initial advice regarding any income tax matter or for filing of Income Tax Return.

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• Income tax and Sales tax Registration
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