About Income Tax Return:
Before Registration and Filing of your Income Tax Return, it is recommended that one should establish basic understanding regarding these processes. Knowledge of basic concepts would not only ensure that the tasks are performed easily but also in the prescribed manner.
Head of Income Tax Return:
According to the Income Tax Ordinance of 2001, all income falls under one of the five categories listed below:
- Income from property;
- Income from business;
- Capital gains; and
- Income from Other Sources
The Federal Board of Revenue (FBR) will accept income tax returns from salaried business individuals and associations of persons (AOPs) through September 30, 2022.
According to a statement made earlier by the FBR, taxpayers receive complete instructions on how to fill out all of the form’s necessary details.
Additionally, by downloading the Tax Aasaan application from the Google Play Store or App Store, income tax returns can be filed online as well as through smartphones.
The income tax return forms for the tax year 2022 have been uploaded by the FBR. It should be noted that separate income tax return forms have been uploaded for salaried employees, AOPs, self-employed people, and businesses.
Either the Tax Asaan application or the FBR’s web portal (Iris System) can be used to file income tax returns.