Income Tax is a type of tax applied by the government of any country on individuals or taxpayers which may vary according to the income or taxable income. Most of the authorities impose income tax on business individuals and on the sharing items of partners rather than imposing on the partnerships. Fundable organizations are free from paying taxes according to many authorities. Taxes applied on nonresidents are different from the natives. Tax rates are different for individuals than for different companies. When the taxable income increases, tax rate increases and according to the features or type of a taxpayer, tax rate may vary.
In the beginning, Government of Pakistan adopted the same British Raj Income Tax Act of 1922 as its Income Tax law. In the year of 1979, the Government declared Income Tax Ordinance, 1979 as its first Income Tax law. In the year of 2001, the Government of Pakistan took an initiative to enhance the law according to international standards and made it effective from July 2002.
In order to determine the tax payable, tax rates are applied on the taxpayer’s taxable income for the year. Tax rates for salaried persons vary according to the taxable income. If the per year salary is below than Rs. 400,000, tax rate is 0%. Tax rates are from 5% to 30% depending upon the taxable income per year. Tax rates for non-salaried persons vary from 0% to 25% depending upon their taxable income. Corporate tax rate is 35% of the net taxable income of different organizations.
Income Tax forms are available online which include: Return Forms, Declaration by Salaried Persons, Refund Application Forms and CVT1 Forms. You can download these forms easily from the links available below. Fill all the fields properly in different forms without making any mistake and submit.
Income Tax Forms
Declaration by Salaried Persons (Click here to download form)
Tax Payment Receipt – IT-31 (REV – II)
Refund Application Form
CVT1- Application To The Registration Authority For The Purchase Of Immovable Property
Income Tax Return Forms Section
Income Tax Return Forms For Tax Year 2014 (New)
Income Tax Return Forms For Tax Year 2013
|1||Tax Rates from Tax Year 2008 To Tax Year 2012 (for IT-6 form)|
|2||(IT-6 Form With Tax Rates) – Return of Total Income Under Clause 87/88 Of Part-IV Of Second Schedule Of The Income Tax Ordinance, 2001 (For Individual) For Tax Years 2008 To 2012|
|3||REQUEST FOR SEEKING IMMUNITY FROM AUDIT FOR TY-2013 (Performa)|
|4||Computation and payment form for income support levy under Income Support Levy Act, 2013|
|5||Return of Total Income/Statement of Final Taxation for Companies (IT 1) for Tax Year 2013|
|6||Income Tax Return for Individual and AOPs (IT2) for Tax Year 2013 (With Calculation Formula)|
|7||Income Tax Return for Individual and AOPs (IT2) for Tax Year 2013 (Without Calculation Formula)|
|8||Retailer’s Statement (IT-4) for Tax Year 2013|
|9||Declaration by Salaried Persons (IT-3)|
|10||Wealth Statement for Tax Year 2013|
Income Tax Return Forms For Tax Year 2012
- Income Tax Return (IT-2) for Individuals & AOPs for Tax Year 2012 with Calculation Formula
- Retailer’s Statement u/s 115 (4) (IT-4) for Tax Year 2012 with Calculation Formula
- IT-5 Form
- Income Tax Return for Individuals/AOPs (IT-2) for TY-2012 (in PDF)
- For retailers (Individuals & AOPs) having annual turnover upto 5 million Rupees but not having any other taxable source of income (in PDF)
- Wealth Statement
- CVT1- Application To The Registration Authority for the purchase of immovable property
- Refund Application Form
For NTN verification visit http://www.pakcustoms.org/online_ntn_verification/index.htm