Individual Tax Return Preparation 2024-2025
Complete guide to filing your personal income tax return in Pakistan
Required Documents for Individual Tax Return
Essential Documents Checklist
Gather these documents before starting your tax return preparation:
Personal Information Documents
- Original CNIC (National Identity Card)
- NTN Certificate (National Tax Number)
- Bank account details (IBAN)
- Mobile number registered with FBR
- Email address registered with FBR
Income Documents
- Salary certificates (Form XVI from employer)
- Bank statements for entire tax year (July-June)
- Rent agreement (if receiving rental income)
- Rent receipts (if paying rent)
- Profit/loss statements from business (if self-employed)
- Dividend vouchers (if received dividends)
- Interest certificates from banks/NSS
- Capital gain statements from brokers
- Foreign income documents (if applicable)
Tax Deduction Documents
- Withholding tax certificates (Form 15G/15H)
- Advance tax payment receipts
- Property tax payment receipts
- Vehicle tax payment receipts
- Proof of Zakat deduction (if applicable)
Investment & Expense Documents
- Investment proofs (SS Scheme, Pension Funds)
- Life insurance premium receipts
- Health insurance premium receipts
- Education expenses receipts
- Medical bills (for self and dependents)
- Charitable donation receipts
- Utility bills (electricity, gas, telephone)
Important Notes About Documentation
- All documents should cover the full tax year (July 1, 2024 - June 30, 2025)
- Keep scanned copies of all documents for electronic filing
- Maintain original documents for 6 years in case of audit
- Bank statements must show transaction details, not just summaries
- Foreign documents must be translated if not in English/Urdu
2024-2025 Tax Rates for Individuals
Salaried Individuals
| Income Bracket (PKR) | Tax Rate |
|---|---|
| Up to 600,000 | 0% |
| 600,001 - 1,200,000 | 2.5% of amount exceeding 600,000 |
| 1,200,001 - 2,400,000 | 12.5% of amount exceeding 1,200,000 |
| 2,400,001 - 3,600,000 | 20% of amount exceeding 2,400,000 |
| Above 3,600,000 | 25-35% (progressive rates) |
Non-Salaried Individuals
| Income Bracket (PKR) | Tax Rate |
|---|---|
| Up to 400,000 | 0% |
| 400,001 - 800,000 | 5% of amount exceeding 400,000 |
| 800,001 - 1,600,000 | 15% of amount exceeding 800,000 |
| Above 1,600,000 | 25-35% (progressive rates) |
Common Deductions & Tax Credits
Allowable Deductions
- 10% of gross salary as standard deduction
- Actual medical expenses exceeding 10% of income
- Education expenses up to PKR 60,000 per child (max 2 children)
- Charitable donations to approved organizations
- Investment in approved pension funds
- Life insurance premium (up to 10% of policy value)
- Home loan interest (for first home only)
Available Tax Credits
- Tax credit for IT sector employees (10% of tax liability)
- Tax credit for women taxpayers (5% of tax liability)
- Tax credit for disabled persons (15% of tax liability)
- Tax credit for investment in new industries
- Tax credit for installation of renewable energy systems
