Income Tax Registration Services

Income Tax registration is a legal requirement for individuals and businesses earning income in Pakistan. It is essential to comply with the tax laws and regulations of the country to avoid penalties and legal consequences. That’s where our professional services come in – we can help you register for income tax and ensure a smooth and stress-free process for your business.

Income Tax Registration In Pakistan

Income Tax Registration in Pakistan

Income tax is a tax that is levied on individuals and businesses based on their income. The tax rate varies depending on the income earned and the country’s tax laws.

Before you begin the process of income tax registration in Pakistan, it’s important to understand the requirements. All businesses, whether sole proprietorships, partnerships, or corporations, must register for income tax with the Federal Board of Revenue (FBR). This includes obtaining a National Tax Number (NTN) and Sales Tax Registration Number (STRN) if applicable. Additionally, businesses must maintain proper records and file tax returns within due dates (Individuals-1st July to 3oth September) (Companies-1st July to 31st December) and to avoid penalties and legal issues. Our professional services can guide you through the process and ensure compliance with all requirements.

Benefits of NTN Registration

As per the Income Tax Ordinance, 2001, any person who falls under the definition of a taxpayer is required to register for National Tax Number (NTN).
A taxpayer is defined as any individual, association of persons, company, or partnership firm that has an income chargeable to tax under the Income Tax Ordinance, 2001.
This means that if you are earning any income subject to tax in Pakistan, you are required to obtain an NTN.
Additionally, certain categories of taxpayers, such as companies and firms, are required to obtain an NTN even if they are not earning any income subject to tax.

There are several benefits of registering for the National Tax Number (NTN) in Pakistan, including:

  • Legitimacy:
    Registering for an NTN gives your business legitimacy and makes it easier for you to operate in the formal sector. It shows that the government recognizes your business and complies with tax laws.
  • Tax refunds:
    If you are registered for an NTN, you are eligible for tax refunds if you have overpaid your taxes.
  • Access to banking services:
    Banks require proof of NTN registration to open a business account, which makes it easier for you to manage your finances.
  • Business opportunities:
    Many government and private sector tenders require bidders to have an NTN, which gives you access to more business opportunities.
  • Avoidance of penalties:
    If you are not registered for an NTN, you may face penalties and fines for non-compliance with tax laws.
  • Facilitation in Import and Export:
    Import and Export of goods other than personal baggage are impossible without NTN.
BENEFITS OF NTN REGISTRATION

Registration Process

When registering for income tax in Pakistan, it’s important to choose the appropriate tax registration category based on the nature of your business. There are different categories for individuals, sole proprietors, partnerships, and companies. Each category has its own requirements and tax rates. Our professional services can help you determine the appropriate category for your business and guide you through the registration process.

Step 1: Initial Consultation

Our team will conduct an initial consultation with the client to gather all the necessary information required for registration.

Step 2: Preparation of Documents

After gathering the information, our team will prepare all the necessary documents required for registration.

Step 3: Filing of Application

We will apply for the client’s NTN registration with the Federal Board of Revenue (FBR) through an online portal.

Step 4: Issuance of NTN

Once the verification process is complete, the FBR will issue the NTN to the client.

Step 5: Delivery of Documents

We will deliver all the registration documents, including the NTN certificate, to the client.

DOCUMENTS REQUIRED FOR NTN REGISTRATIONS

Documents required for NTN registrations

To register an NTN, following documents are required.

NTN Registration – Salaried

  • Color copy of CNIC

  • Phone Number

  • Email address

NTN Registration – Business

  • Color copy of CNIC

  • Rent agreement/ownership docs of Office premises

  • Letterhead

  • Latest paid electricity bill

  • Phone Number

  • Email address

NTN Registration – Partnership Firm or AOP

  • Partnership Deed

  • Partnership registration certificate Form-C

  • Authorization of principal Officer

  • Color copy of CNIC’s of Partners

  • Rent agreement/ownership docs of Office premises

  • Letterhead and Stamp

  • Latest paid electricity bill

  • Phone Number

  • Email address

Why Choose Macrame Cosultantants?

Macrame Consultants is a reliable and experienced tax consultancy firm that can assist you with the NTN registration process in Pakistan.

Here are some reasons why you should choose Macrame Consultants for NTN registration:

WHY CHOOSE MACRAME COSULTANTANTS for NTN Registration
  • Expertise:
    Our team consists of experienced tax experts who are well-versed in the NTN registration process and can guide you through every step.
  • Hassle-free process:
    We understand that the process of NTN registration can be overwhelming for some individuals, but with Macrame Consultants, you can have peace of mind knowing that the process will be hassle-free and straightforward.
  • Timely services:
    We value your time and ensure that all our services are delivered promptly. Our team will work efficiently to complete your NTN registration process quickly and efficiently.
  • Affordable rates:
    Our services are competitively priced, and we offer affordable rates for our clients without compromising the quality of our services.
  • Compliance:
    We ensure that all our services comply with the relevant laws and regulations, so you can be assured that your NTN registration will fully comply with the law.

Macrame Consultants is the ideal choice for individuals and businesses looking for professional, reliable, and efficient services for NTN registration in Pakistan.

Get a Free Consultation!

We would love to hear from you and help you with your NTN Registration.

For any kind of quiries, Please call

+92 0516102627
+92 3022522555
+92 3033933999

Office: 302 Building: 123
Civic Center Bahria Town
Rawalpindi, Pakistan.

info@macrameconsultants.com