How to do Tax Filing: Tax Return in IRIS FBR i, Excellent Guide for 2023-24

Tax Filing Step By Step Made Easy

How to do tax filing in Pakistan has become a specialized task these days due to change in tax filing format on IRIS Portal every year. However, we have collected a comprehensive information and lined in in this blog to make it easy for everyone to file a Tax Return. Filing a Tax Return in Pakistan using the Federal Board of Revenue (FBR) portal is a step-by-step process which requires clarity on the taxation terms and basic knowledge on taxation laws. Keeping in view the problems faces by individuals while filing the tax returns, we have analyzed the pain points and tried to bridge the gap between a layman knowledge and a tax filing agent. So, in this blog we have written step by step procedure with support of visuals to give clarity. Below is the detailed guide for individuals who want to file their income tax return online at their own, without a help of an agent or lawyer:

First of all, evaluate your source of income and determine your major source whether it comes from salary, business or any other source. Upon this you have to select the appropriate type of return to be filled later on.

1. To do Tax Filing, You need to be a Tax Filer or Register on the FBR Website (If not already registered)

If you are filing for the first time, you’ll need to register yourself with FBR. Visit FBR’s website as per the link provided below.

Steps to Register:

• Go to the FBR IRIS Portal: iris.fbr.gov.pk.
• Click on “Registration for Unregistered Person.”

• Fill out the registration form with your CNIC, email, mobile number, and other relevant details as required in the registration form.
• Filing all relevant information, recheck for any error or mistake and Submit the form.
• You’ll receive your login credentials via SMS and email. Please note that mobile number should be registered on your CNIC otherwise you may face trouble later on.

2. Login to IRIS Portal for Tax Filing

After successful registration follow the following steps:

• Go to the FBR IRIS portal.
• Enter your CNIC without dashes in format 3520257546919 (as the username) and the password you received during registration.
• Click on Login as shown in below image.

3. Documents Required for Tax Filing

Before starting the filing process, make sure you have the following information handy. Please note that all the documents should be relevant to the financial year for which you are going to file the Tax Return. For example, if you are going to file the Statement of Tax Return for financial year 2023-2024, the documents should include all the data and transactions from July 01, 2023 to June 30, 2024.

• Proof of income i.e. Salary Slips, Salary Statement or Annual Tax Deposit Statement from your Employer for the concerned financial year .
• Bank statements from all of your bank accounts including the details of taxes deducted on banking transactions during the above mentioned fiscal year.
• Details of loans from employer or any other institution.
• Deposits with the employer or any other institution like
  • car deposits
  • house deposits
  • deposit in provident funds or pension funds etc.
• Details of assets (property, vehicles, etc.).
• Tax deductions like withholding taxes on utilities, mobile phone bills, or any type of income like dividends, profits on bank deposits or mutual funds etc.
• Calculations or proof of zakat or charity disbursement.
• Any other documents related to investments or expenses eligible for deductions.

4. Go to the Income Tax Return Section

Once logged in, go to the File Your Income Return and select the appropriate one from Normal Return or Salary Return.

Then on next prompt type the period or year for which you want to file the Tax Return e.g. 2024. Select the period 2023-24 which will automatically appear upon selection of 2024.

Once logged in:

• Navigate to the “Draft” tab on the left-hand side.
• Click on “Declaration” under Income Tax Return.

5. Enter Your Income Details

• For salaried individuals, you need to enter salary details such as gross income, allowances, tax deductions, and net salary.
• For business individuals, enter your business income details, including turnover, profits, and any other related information.

6. Add Tax Reductions (If Applicable)

If you qualify for tax reductions (e.g., Zakat, donations, or investments in specified funds), make sure to include them:

• Go to the section titled “Tax Reductions” and fill out the details.

7. Declare Assets & Liabilities

You will also need to declare:

• Any property, vehicles, or other assets you own.
• Any liabilities such as loans or debts.

8. Review Withholding Tax Data

FBR may have pre-populated data from withholding taxes on utilities, mobile usage, etc. Review this section carefully to ensure accuracy:

• Go to the section “Withholding Tax” and confirm the entries.

9. Submit Wealth Statement (For Salaried and Business Individuals)

• Prepare a Wealth Statement if your income requires one (usually when you have taxable assets or earnings beyond a certain threshold).
• Make sure to balance your opening wealth and closing wealth by reconciling your income, expenses, and taxes paid.

10. For Tax Filing Verify and Submit Your Return

• After filling in all details, review your tax return thoroughly.
• Ensure that all income, deductions, and assets are correctly entered.
• Once verified, submit the return.

11. Acknowledgment and Payment (If Any Tax is Payable)

After submission:

• You’ll receive an acknowledgment receipt.
• If you owe any tax, generate a PSID (Payment Slip ID) and pay the tax via online banking, ATM, or at an authorized bank branch.

12. Print Your Return and Wealth Statement

Once successfully submitted:

• Download and print a copy of your tax return and wealth statement for your records.

Notes:

• The filing period for tax returns is typically from July 1 to September 30 each year.
• Keep track of any notifications from FBR regarding the submission status.
• This blog is written in a generalized way for benefit of majority, it is advisable to consult any tax lawyer or consultant for specific needs or watch the following video.

By following these steps, you can successfully file your tax return on the FBR IRIS portal in Pakistan.

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