Income & Sales Tax Return
Requirements for Income Tax Return
Requirements Are Given Below:
- Verified Owner Information: Name and CNIC Number
- Four Recent Passport-Sized Photographs of the Owner
- Key Business Details: Director/CEO Name, Business Name, Business Address
- Financial Summary: Total Assets, Total Sales Sheet
- Annual Tax Return Sheet (duly filled and signed)
- Income Tax NTN Certificate for Validation
- Utility Bill: Latest Electricity Bill for Business Premises
- Digital Communication: Valid Email Address, Active Contact Number
Requirements for Income Tax Return
Requirements Are Given Below:
- Business Name
- Director/CEO Name
- Total Assets Value
- Business Address
- Owner's Personal Details: Name and CNIC Number
- Four Recent Passport-Sized Photographs of the Owner
- Income Tax NTN Certificate for Validation
- Annual Tax Return Sheet (duly filled and signed)
- Utility Bill: Latest Electricity Bill for Business Premises
- Valid Email Address
- Active Contact Number
Income & Sales Tax Return
Filing an income tax return is essential for individuals and businesses to report earnings and comply with tax regulations. Registered taxpayers must declare their income, expenses, and deductions through the Iris portal to determine their tax liability. Timely filing ensures compliance with the Federal Board of Revenue (FBR) and helps avoid penalties while benefiting from tax refunds or exemptions where applicable.
A sales tax return is mandatory for businesses registered under GST (General Sales Tax), requiring them to report their taxable sales, input tax, and output tax. Businesses must file their returns monthly through the Iris portal, ensuring accurate tax collection and compliance with FBR rules. Proper filing allows businesses to claim input tax adjustments and maintain smooth operations without facing legal or financial issues.