Who is required to file Income Tax Return?

Due date for filing of Tax Return:  30 September 2021 (for individuals and AOP)

Following persons are required to file the Income Tax Return (only broad information given below):

1. Every Company
2. Every person (other than company) whose taxable income exceeds the prescribed limit.
3. A non-profit organization
4. Who has an immoveable land with area of 500 Sqr yards or more or owns a flat with covered area for more than 2000 sqr ft or a flat located in municipality / prescribed areas
5. Owns a motor vehicle with engine capacity more than 1000 cc
6. A person who is holder of commercial or industrial connection of electricity with annual bill exceeds Rs. 500,000
7. A resident person registered with chamber of commerce, or any professional body (PEC, PMDC, PBC, ICAP, ICMA)
8. A resident person who is required to file foreign income
9. Every person, whose income is subject to Final Tax and any person who has been charged with the tax for last two years and a person who claims a loss carried forward

If you need any assistance on filing of Income Tax returns,  you may contact us on info@pcon.com.pk or WhatsApp 0322 2812013 or visit us on www.pcon.com.pk