Income Tax

Collecting taxes and fees is a fundamental way for countries to generate public revenues that make it possible to finance investments in human capital, infrastructure, and the provision of services for citizens and businesses. Basic criteria have been established under the provisions of law for collection of tax and enforcement.
NTN
National Tax Number is essential for each entity which received Taxable Income whether is Salaried Individual, Business Individual Entity, Firm (AOP), Company, Trust etc.
NTN Registrations
⦁ Salaried & Business Individuals.
⦁ CNIC
⦁ Email.
⦁ Contact.
⦁ Business Name (Business Individuals).
⦁ Business Principal Activity.
⦁ Business Address / Electricity Paid Bill.
⦁ Business Premises (Lease Agreement / Ownership Documents).
Income Tax Returns
Once any entity got registration (National Tax Number) with Federal Board of revenue under section 181 of Income Tax Ordinance 2001 must have to filled Income Tax Return annually regardless in profit or loss. If taxpayer entities violate Income Tax law than penalties shall be enforced.
Withholding Statements
Every company and Sales Tax Registered entity who fall under the law of withholding agent must have to filled withholding statements under section 165 of Income Tax Ordinance 2001. If taxpayer entities violate Income Tax law than penalties shall be enforced.
Notice Compliances
Federal Board of Revenue (FBR) can interpret the submissions of taxpayer by issuing notices in different segments of tax collections. Our legal professional complying notice under law full parameters.
IOCO Customs
Input-Output Co-Efficient Organization (IOCO) is secondary unit of FBR which execute their operations with Pakistan Customs under fifth schedule of customs act 1969. All office of Directorate of IOCO and Collectorate of Customs in different operational wings North, South & Central liaison with Pakistan customs for duties relaxations.
ATL Activation’s
If taxpayer entity didn’t comply the tax laws than taxpayer entity will be In- Active. Once the Taxpayer entity will not appear in ATL than almost double taxations will be enforced in different segment of following financials transections.
⦁ Banking Transections.
⦁ Withholding Deductions.
⦁ Vehicle Registrations.
⦁ Immovable Property Deals.
⦁ Capital Gain on Securities / Dividends.
⦁ Prize Bonds withholdings etc.
Contact Us: info@lela.com.pk