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Income Tax in Pakistan - An
Overview
Law relating to taxation of income in
Pakistan is affirmed in the Income Tax
Ordinance, 2001 (the
Ordinance) and the rules frame there under viz. Income Tax Rules,
2002 (the Rules). The Ordinance is a Central order and is;
therefore, applicable to the whole of Pakistan. Under section 4 of
the Ordinance, income tax is compulsory for each tax year at
specific rates on every person who has taxable income for the year.
The tax payable is calculated by apply the rate(s) of tax to the
taxable income of the taxpayer for the year and any tax credit
permitted to the taxpayer for that year is deduct from that amount.
The following tax
credits are acceptable under Chapter 3 Part 10 of the Ordinance:
Charitable donations, investment in shares, retirement annuity
scheme and profit on debt.
Income Tax
Return Forms
Section
Income Tax
Return Forms For Tax Year 2011 (NEW)
1
Income Tax Return for Company (IT-1) for TY-2011
2-
Income Tax Return for Individuals/AOPs (IT-2) for
TY-2011 with Formula/Computational Help
3
Income Tax Return for Individuals/AOPs (IT-2) for
TY-2011 without Formula/Computational Help
4
Wealth Statement
Income Tax Return Forms For Tax Year 2010
Declaration by
Salaried Persons
(Click
here to download form)
Refund Application Form
(Click
here to download form)
CVT1 Forms
1- CVT1-
Application To The Registration Authority for the purchase of
immovable property
2- Refund
Application Form
For
NTN verification visit
http://www.pakcustoms.org/online_ntn_verification/index.htm
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