Tax deductions and exemptions:
Filers are eligible for a number of tax deductions and exemptions that non-filers are not. These deductions and exemptions can save filers a significant amount of money on their taxes.
Higher credit scores:
Filers typically have higher credit scores than non-filers. This is because filers demonstrate to lenders that they are responsible with their finances.
Some employers may prefer to hire filers over non-filers. This is because filers are seen as being more responsible and reliable.
Access to government services:
Filers may be eligible for certain government services that are not available to non-filers. For example, filers may be able to get a loan from the National Bank of Pakistan.
• Higher tax rates:
Non-filers are subject to higher tax rates than filers. This is because non-filers are not able to claim the same deductions and exemptions that filers are.
Reduced access to government services:
Non-filers may have reduced access to certain government services. For example, non-filers may not be able to get a loan from the National Bank of Pakistan.
Non-filers who are caught not filing their income tax returns may be subject to penalties. These penalties can be significant.
Cash Withdrawal/Banking Transaction
Intl Transact on Through Deb t/Credit Card
Purchase of Property
Sale of Property
Tax on Saving Account Profit
Tax on Monthly Domestic Electricity Bill