Why should you file income tax?
- October 5, 2018
- Posted by: corplution_@dmin
- Category: Tax
Do you know that the tax you pay on mobile recharges, tuition fees to educational institutions of your children, domestic and international air tickets, telephone bills and buy/sale of plots/houses is adjustable/refundable from your income tax liability?
Has anyone told you that while doing cash withdrawals & banking transactions, receiving interest income on national savings and bank profits, dividends, registering / paying motor vehicle taxes and buy/sale of houses plots etc, you can save your hard earned money by paying less taxes?
You might be thinking that we are talking about something impossible or technically difficult, but believe us all of this can benefit through out your life.
As being a filer saves your hard earned money through tax applications at low rates than a non filer as well as adjustments of taxes already paid from tax liability.
A filer is exempt from collection of advance tax on non-cash banking transactions including pay order, ATM Transfers, demand drafts, online transfers, direct debits, payments through mobile transfer.
Whereas, non filers are subject to higher fixed amount taxes than filers on first registration of a private motor vehicle in Pakistan as well as on its transfer with in 5 years of first registration and payment of motor vehicle tax .This tax is adjustable for filers in their income tax return.
So get in touch with our professionals today and file your income tax right away!