Income Tax Return 2021
If a salaried person wants to file a tax return for Tax Year 2021 for the first time, he must tell the following details to his tax consultant / Tax Lawyer.
1. Tax certificate should be obtained from the institution: July 1, 2020, to June 30, 2021.
2. Date of Employment When Posted in the institution?
3. Copy of National Identity Card.
4. Current address in which you reside.
5. Mobile number registered on the ID card.
6. Email address
7. Give full details of all movable, i.e., car, motorcycle, etc., and all immovable, i.e., landed property (number plate, address, price, measurement, etc.)
8. Provide the IBAN of the personal bank account.
9. Give the full address of the bank branch.
10. Statement of all bank accounts from July 1, 2020, to June 30, 2021.
11. Explain in detail if the bank has borrowed it from another person.
12. If there is any other source of income, give details such as income from rent, income from shares, income from abroad, income from the sale of movable or immovable property, income from the savings account, and if there is a side business, full details of that income.
13. If you pay committee or insurance, tell in detail.
14. Be sure to mention the children's education and other expenses.
15. If Paid token tax on the car, If paid income tax on commercial meter throughout the year, If paid income tax on sale and purchase of land, If paid advance tax on phone service, If paid WHT when withdrawing money from a bank or any If WHT is involved in other matters, please provide details.
Note: Of course, it takes time to give all these details but remember if a person fails to tell these things to his consultant / Tax Advisor / Income Tax Lawyer, then in case of the audit is opened by FBR, you have to pay the fine, penalty and high fee to the lawyer.
And if the tax consultant is not interested in getting this information from you, then, of course, you have chosen the wrong consultant.
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