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Withholding Tax Filling (Business)
Withholding tax is an advance tax deducted at the source of income, meaning the payer of certain types of income must deduct tax before making the payment and then remit it to the government. In Pakistan, businesses are often required to withhold tax on various transactions and file returns for these withholdings.
Withholding Tax Filling (Business)
- Color copy of CNIC
- Email address
- Latest paid electricity bill
- 2-3 Working days
- Phone Number
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How It Works?
Who needs to file it?
Employers must deduct withholding tax from employee salaries and remit it to the FBR. Businesses are required to withhold tax from payments made to suppliers, contractors, and service providers. Similarly, banks must withhold tax on interest payments to account holders.
How can you file it?
Make sure your business is registered with the FBR and has an NTN. Deduct the required withholding tax from each payment, deposit it to the government through designated banks or online platforms, and maintain detailed records of all transactions and withheld amounts.
What is the benefits?
Complying with tax laws avoids penalties while clear records of transactions and withheld taxes promote financial transparency. It eases the audit process with organized documentation of deductions and payments, contributing to government revenue public services.
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Income tax filing for salaried individuals involves declaring annual income to the Federal Board of Revenue (FBR) and calculating payable tax. Returns must be filed by September 30th, including income, expenses, and any applicable deductions or exemptions.
Income tax filing for salaried individuals involves declaring annual income to the Federal Board of Revenue (FBR) and calculating payable tax. Returns must be filed by September 30th, including income, expenses, and any applicable deductions or exemptions.
Income tax filing for salaried individuals involves declaring annual income to the Federal Board of Revenue (FBR) and calculating payable tax. Returns must be filed by September 30th, including income, expenses, and any applicable deductions or exemptions.
Income tax filing for salaried individuals involves declaring annual income to the Federal Board of Revenue (FBR) and calculating payable tax. Returns must be filed by September 30th, including income, expenses, and any applicable deductions or exemptions.
Income tax filing for salaried individuals involves declaring annual income to the Federal Board of Revenue (FBR) and calculating payable tax. Returns must be filed by September 30th, including income, expenses, and any applicable deductions or exemptions.
