Documents required for filing Income Tax Returns in Pakistan 2022-23

If you are ready to file your tax return 2022-23, this information will help you gather the essential documents required for your tax filing.

Every taxpayer is now required to submit an Annual Income Tax Return.

The information which is available in this write up is related to the individual class, which includes employees, business individuals, owners of rental income, etc.

 The last date to file income tax return for the tax year 2022-2023 in Pakistan is 30^th September 2023. To file your income tax return, the following information (whichever applicable) is required:

1. Income:

1	Salary	Salary Certificate
2	Business Income	Profit and Loss account (in case of AOP, %age of shareholding)
3	Rental Income	Rent received and tax deducted on the rent
4	Income from other sources	Detail and evidence
5	Capital gain Tax on Securities	amount of gain and tax deducted on it
6	Profit on Bank Deposit	Amount of profit received and tax deducted on it

2. Details required for wealth statement:
   All Bank statement(s) for the period from 01 July, 2022 to 30 June, 2023;
   Details of any asset purchased/sold, investment made during the year;
   Details of any loan borrowed or given.
3. Tax deduction certificates from mobile phone companies or internet service provider:
   Obtain tax deduction certificate from the cellular company for the sim or internet connection on your name.

4. Insurance premium paid during the year;
5. Foreign Remittance received during the year;
6. Gift received/made during the year;
7. Purchase and Sale of Shares during July 2022 to Jun 2023, along with Withholding certificate from NCCPL;
8. Detail of Household expenses as given below:

S. No.	Particulars	Amount
1	Rent
2	Rates/Taxes/Charges
3	Vehicle Running/Maintenance
4	Traveling
5	Electricity
6	Water
7	Gas
8	Telephone
9	Asset Insurance/Security
10	Medical
11	Educational
12	Club
13	Functions/Gatherings
14	Donation, Zakat, Annuity, Profit on debt, Life Insurance premium
15	Other personal/Household expenses
16	Contribution in expenses by family members

9. Detail of ownership and facilities in use:

a. Vehicles
• Vehicle No.
• Owned/In-use
• CNIC of owner, if not owned by the taxpayer

b. Houses

• Address (House, Street, Mohalla, Sector, etc.)
• City
• Land Area (Marla / SQ Yard)
• Owned/ rented/ other
• CNIC of owner, if not owned by the taxpayer

10. Detail of tax paid as given below:
    a. On import of goods
    b. On withdrawal from pension fund
    c. From salary u/s 149
    d. On dividend Income
    e. On Government securities
    f. On profit on debt
    • Certificate/Complete IBAN No, etc.
    • Bank name
    • Share%
    g. On payments for goods
    h. On payments for services
    i. On payments for the execution of contracts
    j. On cash withdrawal from bank
    • Certificate/Complete IBAN No. etc.
    • Bank name
    • Branch address
    • Share%

k. On motor vehicle token tax (Other than goods transport vehicles)
• Registration No.
• Owner’s Name
• Tax paid

l. With bill for electricity consumption
• Consumer No.
• Electricity company
• Nature of Bill i.e., domestic, commercial or industrial
• tax paid

m. With telephone bills, mobile phone, and pre-paid cards
• Telephone Number
• Service provider
• Tax paid

Please note that all (applicable) information is necessary for the preparation and submission of Income Tax Returns. You are, therefore, requested to arrange the documents/information and schedule a meeting with our professional consultants at your earliest in order to timely file the tax returns.

Click here to view Contact details of Tax Consultant.

Click here to view Pricing details of tax-related services.

The purpose of this information is to let you know what and which information is needed for filing your tax returns effectively.

All of these mentioned factors, if we arrange and document carefully for filing tax returns, then we can save thousands of rupees. Further, there are many of sources on which we pay taxes but we don’t know about it. So, get your data ready before the deadline for tax filing which is 30th of September, 2023.

On 17th March, 2022, Our Chief Consultant Syed Haseeb ur Rahman has given detailed interview to Pakistan Business Council (PBC). Ms. Rabia Tariq (Senior Research Analyst) and Mr. Samir Amir (Director Research) inquired about the scope of accounting services exports and our better off and worse-off as compared to our rivals countries. They also asked about the Govt support and recommendation (if any). Mr. Haseeb answered their question professionally and has given recommendation to fresh accountants, other accounting services provider and local software houses about the tactics to tap international market.

The Pakistan Business Council (PBC) is a private sector business policy advocacy platform, comprising of Pakistan’s leading private‐sector businesses including multinationals. One of the key thrusts of the PBC is to promote “Make-in-Pakistan” which besides manufacturing includes services exports and agricultural products. Make-in-Pakistan aims to create jobs, generate value‐added exports and encourage import substitution.  

In 2020, value-added services contributed 52.8% to Pakistan’s GDP and around 38% to employment in Pakistan, making the services sector extremely important for economic growth. With the services sector coming to the forefront, our research indicates that based on global demand and Pakistan’s own strengths, the country’s focus should be on selected categories of service export, which is why the PBC is currently doing an in-depth study on Classification 10: “Other Business Services”, which includes a sub-section on “Accounting, Auditing, Bookkeeping, and Tax Consulting Services”.  

As demand for professionals is increasing globally, the Other Business Services sector is expanding exponentially, making it vital to analyze this sector. In fact, this sector has the highest exports worldwide, along with the fourth-highest growth rate. However, latest data shows that Pakistan’s exports of “Accounting, Auditing, Bookkeeping, and Tax Consulting Services” amounted to $42 million which is way below potential.

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