With FBR’s smooth online tax registration and filing, you can keep a record of all your finances in an efficient manner from the comfort of your home.
Read about how you can register as a taxpayer in this blog.
For Salaried Person
As a new tax filer, you will have to follow the below step-by-step process to file your taxes error-free.
1. Accessing the IRIS Portal
Log into the IRIS Portal by going to the FBR website.
From the menu bar on the top left side, drop down the Declaration tab for more options.
Click on the “Salary more than 50% classic view” option.
Once a new interface opens up, on the top right side, a message box asking about the period of tax returns appears.
Move the cursor to the Period button to open a pop-up box. Enter the year in the Tax Period bar to search for the year. Once the period appears on the dialogue box, click the select button. A new tab will open.
2. Enter Income Tax Details
This section of tax filing is related to all the funds you receive as income or yearly earrings from various sources.
- On the Employment tab, enter the details of your salary by adding the annual salary amount in the Total Amount column. If your monthly salary includes benefits that are tax exempted (like medical), add them to the Amount Exempted Column. Leave the column empty if you are not receiving any tax exempted benefits. Add any allowances you are receiving or any reimbursement in the relevant row. After filling in all the information, click the calculate button in the top right corner.
- If you have other sources of income, add the details in the other sources tab in the relevant row, like the Yield on Behbood Certificates and Profit on Debt. After entering all the information, click the calculate button in the top right corner.
- If you are receiving funds from foreign sources or agriculture, add it to the Foreign sources/Agriculture tab. The funds must be of income stream and not of remittance.
- In the Tax Chargeable/Payments tab, you will add details of all the taxes you have paid as withholding tax.
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- Enter any tax reductions that apply to your income in the Tax Reductions tab. Tax reductions are valid for teaching or research jobs.
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- Add all the tax you have paid to the government till filing in the Adjustable Tax window. You can enter the tax on income in the salary of corporate sector employee tabs. On this page, ensure you are saving entries by clicking on the Save button in the top left corner of the menu bar. You are paying taxes on mobile connections, car tokens, and internet cable connections. Add the amount you have paid by acquiring a tax certificate containing the information on tax deducted from your mobile network and cable network providers. For the car token, while entering the amount, ensure you are entering the value for income tax and not the car token tax.
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- After you have entered all the information relevant to you on the Adjustable Tax window, click the calculate button in the top right corner.
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- Go to the computations tab to see if you have any value in the Refundable Income Tax row. Any value calculated is payable to you by the government. Save all your entries by clicking on the Save button in the top left corner of the menu bar.
The process for entering employment details is complete. Next, you will have to add the details of all the assets in the Wealth Statement.
3. Entering Asset Details
Since you will be filing the returns for the first time, click on the Net Assets tab from the Wealth Statement drop-down.
- Enter your income declared for the current tax year calculated in the previous step at the Employment tab in the first-row Income Declared as per Return for the year subject to Normal Tax.
- Enter any exemptions calculated in the second-row Income Declared as per Return for the year Exempt from Tax.
- On the same tab, add any amount in cash or property gifted to you in the Gift row.
- In the Loan row, enter the amount you have received as a loan.
- In the other (Property, Jewellery, Bank Account, etc) row, enter the amount of any property or other asset in your name.
- Add all your expenses for the current fiscal year paid in bills in the utilities row, yearly household spending in the Household Expenses row, any expenses incurred in international travels in Foreign Travelling, kid’s school fees in Education Expenses, and any rent, zakat or medical expenditures in the Others tab.
- Enter the amount you have entered earlier in the other (Property, Jewellery, Bank Account, etc) as Net Asset Current Year.
- Enter the amount against any asset you bought and the savings you made last year in the Net Asset Last Year row.
Once you are done filling out all the entries, click the calculate button in the top right corner.
You must be getting a zero in the Unreconciled Amount row. If this is not the case, you must have missed any expenses, as returns will not be filed with this error.
4. Hit Submit Button
Double-check all the information on every form, as, after submission, you will not be able to make any changes.
Go to the Verification tab and enter the 4-digit pin you received during the registration process. Then click the Submit button on the top left corner of the screen.
Congratulations! You have successfully filed your tax returns.
If you need assistance with any tax-related matters, Contact our experts today.
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