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Benefits of becoming income tax filer

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.

Employment opportunities:

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.

Penalties:

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

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