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In today's dynamic legal landscape, thriving in growing areas of law is far more promising than navigating stagnant sectors. With Musheer’s professional skillset trainings, you gain the skills and knowledge that are highly sought after in the current market, positioning yourself for success.
Acquire genuine tax expertise with our hands-on approach. An hour of daily practice hones your skills, ensuring you can tackle complex legal challenges with confidence. At Musheer, we prepare you for a rewarding and impactful career by emphasising practical, real-world experience that sets you apart.
Our meticulously designed courses set the stage for a successful legal career. With unparalleled access to extensive knowledge and dedicated mentors, you'll receive the guidance and support needed to develop the crucial skills and insights necessary for excelling in the evolving legal landscape.
This course caters to individuals aiming to secure remote and independent practice in Pakistan.
Acquire crucial skills essential for a thriving freelancing career, including return filing, notices compliance and handling refunds.
Engage in bi-weekly live sessions over 1-2 months and tackle real cases mirroring real-world tasks.
Immerse yourself in real-time scenarios and receive constructive feedback to enhance your capabilities.
Whether you're a student, graduate, or seasoned professional in Income Tax law, our course is designed to meet your learning requirements. Special classes and guidance are available for students securing 100% attendance to ensure comprehensive understanding.
We prioritise practical skills over theoretical knowledge. Our curriculum focuses on equipping you with the expertise needed to undertake real-world tasks in companies, startups, and MNCs.
Our Intensive Income Tax Course is crafted to provide professionals with the most upto-date knowledge and practical skills in Pakistani Income Tax laws and procedures.
Spanning two comprehensive modules, this course delves into every aspect of income tax management, from the basics of the Income Tax Ordinance, 2001, to advanced techniques in tax computation, filing, and compliance.
Module 1 includes 8 lectures (16 hours) that cover fundamental topics such as the overview of the Income Tax Ordinance, the registration of NTN for individuals, AOP, and companies, computation of taxable income, and practical procedures for filing various types of returns, including salary, business, rental income, and returns for nonresident persons.
Module 2 extends over 16 lectures (32 hours) and explores deeper into tax filing procedures for different business types, claiming deductions and adjustments, handling FBR notices, and obtaining various certificates. This module also covers advanced topics like final/fixed taxation and practical procedures for filing returns for freelancers, the IT sector, and non-resident persons.
The course also offers exclusive bonus classes for students with 100% attendance, covering crucial topics like tax return modifications, refund claims, and responding to FBR notices. These bonus sessions ensure that students achieve full proficiency in all aspects of income tax law and practice.
This course is a golden opportunity for anyone looking to thrive in the legal sector. Here’s who will benefit the most:
Aspiring Top-Tier Law Firm Lawyers
If you dream of working in top law firms or excelling in the corporate practice of boutique firms, this course will give you the edge you need to stand out and succeed.
Litigators Impacted by the Pandemic
Are you a litigator whose practice has been hit hard by the pandemic? Diversify your skills with taxation law expertise, allowing you to take on tax work and boost your financial stability while still having time to focus on litigation.
Independent Lawyers and Freelancers
For lawyers aiming to build an independent tax practice or start their own law firm catering to offshore needs, this course is an invaluable resource. Learn to attract and manage foreign clients, expanding your practice beyond borders.
Young Lawyers and Law Students
Planning to pursue an LLM and settle abroad? This course will provide the foundational knowledge and skills to ensure your success. Additionally, law students looking to secure prestigious tax law firm positions post-graduation will find this course instrumental in
creating a financially secure future.
Chartered Accountants and Company Secretaries
Elevate your services by integrating high-value corporate law expertise. This course enables CAs and CSs to offer unique solutions to clients, making your services indispensable and significantly enhancing your professional value.
Why You Can’t Miss This Opportunity
This course is not just an educational program; it’s a career-defining move. Equip yourself
with the skills that are in high demand. Transform your professional life by gaining practical, actionable knowledge that will set you apart in the competitive world of tax law.
Enroll today and seize the opportunity to unlock your potential and secure your future in the ever-evolving legal landscape. Don’t let this chance pass you by – your path to success starts here!
This Income Tax Course stands out due to its comprehensive and hands-on approach to teaching Pakistani Income Tax laws. Unlike other courses that focus primarily on theoretical aspects, this program emphasizes practical skills essential for real-world application.
Participants will engage in bi-weekly live sessions where they will tackle actual tax cases, ensuring they gain experience that mirrors real-world tasks. The curriculum is meticulously designed to cover a wide range of topics, from the basics of tax registration and computation to advanced topics such as final/fixed taxation, handling FBR notices, and obtaining essential certificates. This ensures that by the end of the course, participants are not only knowledgeable but also proficient in managing diverse tax scenarios effectively.
Another exceptional feature of this course is the personalized learning experience it offers. With exclusive bonus classes for students with perfect attendance, participants can delve deeper into critical topics like tax return modifications and refund claims.
The course is tailored to meet the needs of various professionals, including accountants, tax
practitioners, entrepreneurs, and even students, making it versatile and accessible.
Additionally, the focus on practical skills over theoretical knowledge equips participants with the expertise needed to undertake real-world tasks in companies, startups, and multinational corporations. This unique combination of comprehensive coverage, practical experience, and personalized learning makes this Income Tax Course an invaluable investment for anyone looking to excel in the field of tax law and management.
Completing our Income Tax Law course opens up a multitude of lucrative career opportunities in the corporate legal sector. Here’s how this course can transform your professional trajectory:
Join Top-Tier Law Firms
With the skills and knowledge acquired from this course, you will be well-prepared to join prestigious law firms. Your expertise in tax law will make you a highly attractive candidate for firms seeking skilled professionals who can handle complex legal matters.
Excel in Corporate Legal Departments
Large corporations and multinational companies are always in need of proficient legal experts to manage their legal affairs. This course equips you with the competencies to
thrive in corporate legal departments, overseeing regulatory compliance, mergers and acquisitions, and corporate governance.
Start Your Own Law Firm
If you have entrepreneurial ambitions, this course provides the foundation to start your own law firm. You’ll gain the confidence and practical skills needed to attract and manage clients, handle legal documentation, and navigate corporate transactions successfully.
Freelance and Consulting Opportunities
The rise of the gig economy has created numerous opportunities for freelance legal professionals. With your newfound expertise, you can offer consulting services to startups, SMEs, and international clients, commanding high fees for your specialised knowledge.
Higher Earning Potential
Equipped with high-demand skills, you can significantly enhance your earning potential. Whether working for top firms, corporations, or as an independent consultant, the advanced competencies gained from this course allow you to negotiate better salaries and
higher consulting fees.
Diverse Career Paths
This course opens doors to various career paths, including roles as corporate lawyers, legal advisors, compliance officers, and in-house counsel. Your versatility and comprehensive understanding of law law will enable you to pivot across different roles within the legal and corporate sectors.
Professional Growth and Recognition
The practical skills and knowledge you gain will help you build a strong professional reputation. Your ability to handle real-world legal challenges effectively will set you apart from your peers, leading to faster career advancement and greater recognition in the legal community.
Opportunities for Further Education and Specialization
If you aspire to further your education, the solid foundation provided by this course will prepare you for advanced studies, such as an LLM. Specialising in areas like Taxation Law can further enhance your career prospects.
Network Expansion
Through our course, you will have the opportunity to connect with industry experts, mentors, and fellow students. This network can be invaluable for career growth, providing support, opportunities for collaboration, and insights into the latest industry trends.
After completing our Pakistan Tax Law course, you will be equipped with the skills and knowledge to attract a wide range of potential employers. Here are some of the key sectors and organisations where you can build a successful career:
Top-Tier Law Firms
Prestigious law firms are constantly on the lookout for skilled Tax lawyers who can handle complex legal matters. Your expertise in drafting legal documents, managing mergers and acquisitions, and ensuring regulatory compliance will make you a highly sought-after candidate for these firms.
Tax Legal Departments
Large corporations and multinational companies require proficient legal experts to oversee their legal affairs. With your comprehensive understanding of Tax law, you will be well-suited for roles in Tax legal departments, where you can manage regulatory compliance, Tax governance, and transactional work.
Financial Institutions
Banks, investment firms, and other financial institutions need legal professionals to navigate the complex regulatory landscape and ensure compliance with financial laws. Your skills in banking and finance law, contracts, and arbitration will be highly valuable
in these settings.
Government and Regulatory Bodies
Government agencies and regulatory bodies employ legal experts to draft legislation, regulate Tax activities, and ensure compliance with laws. Your knowledge of Pakistan’s Tax legal framework will make you an ideal candidate for these roles.
Non-Governmental Organisations (NGOs) and Non-Profits
NGOs and non-profits often require legal assistance for Tax governance, notice compliance, and tax management. Your ability to handle these legal matters will enable you to contribute effectively to these organisations.
Educational Institutions
Universities and educational institutions seek knowledgeable legal professionals to teach and develop courses in Tax law. Your expertise and practical experience will make you a valuable addition to any academic setting.
Overview of Income Tax Ordinance, 2001
Registration of NTN of individual, AOP and company in FBR + filing of
Sole Proprietorship Form
Computation of Taxable Income + Tax Rates + Deductible Allowances
Practical procedure of complete Salary Return+ Teacher’s Return + ATL
Challan
Types of Businesses + Practical procedure of filing Business Return
Claiming Adjustments + Deductions + Deductible Allowances
Practical procedure for filing Return on Rental Income + Freelancer
Return
Practical procedure for filing Return on Capital Gains + Non-Resident
Person
Overview of Income Tax Ordinance, 2001
Registration of NTN of Individual, AOP and company in FBR + filing of
Sole Proprietorship Form
Computation of taxable income + tax rates + deductible allowances
Practical procedure of complete Salary Return+ Teacher’s Return + ATL
Challan
Practical procedure of filing Business Return of a Trader and a
Manufacturer
Claiming Adjustments + Deductions + Deductible Allowances
Practical procedure of filing Business Return of a Comission Agent +
Insurance Agent + Service person + Doctor + Lawyer + Stock Investor
Practical procedure of filing Agriculture Return + Wealth Statement of a
Business Person
Practical procedure for filing Return of a Non-Resident Person +
Freelancer/IT Sector
Practical procedure for filing Return on Rental Income + Capital Gains
How to pay Admitted Income Tax + Revision of Return + refund Claim
What is Final/Fixed Taxation + How to obtain 7E Certificate
Types of Notices by FBR (111, 114(4)), 122, 176, 214)
Practical procedure to obtain Certificates from FBR (Residency
Certificate, NTN Certificate, Income Certificate, 7E Certificate)
Who is a Withholding Agent + Application of filing extension in Return
Submission
Types and Forums of Appeals
Registration and Filing of Income Tax Returns is mandatory for all people deriving taxable income. In Pakistan, tax is levied on its residents on their worldwide income. A non-resident individual is taxed only on Pakistan-source income, including income received or deemed to be received in Pakistan or deemed to accrue or arise in Pakistan. Salary is Pakistan’s source of income to the extent it relates to employment exercised in Pakistan, wherever paid.
Taxable Income means Total Income reduced by donations qualifying straight for deductions and specific deductible allowances.
Total Income is the aggregate of Income chargeable to Tax under each head of Income.
Under the Income Tax Ordinance, 2001, all Income is broadly divided into the following five heads of Income:
Salary
Income from the property
Income from business
Capital gains
Income from Other Sources.
The Government of Pakistan has finalized tax slabs for salaried individuals for the fiscal year 2022-23. It has set a minimum income tax rate of 2.5% for those earning up to Rs. 100,000 per month and a maximum of 35% for individuals earning a monthly salary over Rs.1 million.
Following are the changes in tax laws recently enacted through the Finance Act 2022 that will impact salaried individuals:
|
Sr. No. |
Sr. No. Taxable income Existing Rate of Tax |
Rate of Tax |
|---|---|---|
|
1 |
1 Where the taxable income does not exceed Rs. 600,000 |
0% |
|
2 |
Where the taxable income exceeds Rs. 600,000 but does not exceed Rs. 1,200,000 |
2.5% of the amount exceeding Rs. 600,000 |
|
3 |
Where the taxable income exceeds Rs. 1,200,000 but does not exceed Rs. 2,400,000 |
Rs. 15,000 + 12.5% of the amount exceeding Rs. 1200,000 |
|
4 |
Where the taxable income exceeds Rs. 2,400,000 but does not exceed Rs. 3,600,000 |
Rs 165,000 + 20% of the amount exceeding Rs. 2,400,000 |
|
5 |
Where the taxable income exceeds Rs. 3,600,000 but does not exceed Rs. 6,000,000 |
Rs. 405,000 + 25% of the amount exceeding Rs. 3,600,000 |
|
6 |
Where the taxable income exceeds Rs. 6,000,000 but does not exceed Rs. 12,000,000 |
Rs. 1,005,000 + 32.5% of the amount exceeding Rs. 6,000,000 |
|
7 |
Where the taxable income exceeds Rs. 12,000,000 |
Rs. 2,955,000 + 35% of the amount exceeding Rs. 12,000,000 |
An individual is a Resident for a Tax Year if the individual:
Is present in Pakistan for a period of, or periods amounting in aggregate to, one hundred and [eighty-three] days or more in the tax year
Is present in Pakistan for a period of, or periods amounting in aggregate to, one hundred and twenty days or more in the tax year and, in the four years preceding the tax year, has been in Pakistan for a period of, or periods amounting in aggregate to, three hundred and sixty-five days or more
Is an employee or official of the Federal Government or a Provincial Government posted abroad in the Tax Year
An Association of Persons is Resident for a Tax Year if the control and management of its affairs are situated wholly or partly in Pakistan at any time in that year
A Company is Resident for a Tax Year
It is incorporated or formed by or under any law in force in Pakistan
The control and management of its affairs is situated wholly in Pakistan at any time in the year
It is a Provincial Government or a local Government in Pakistan
An Association of Persons, a Company, and an Individual are Non-Resident for a Tax Year if they are not Residents for that year.
In section 101 of the Income Tax Ordinance, 2001, caters to Incomes under different heads and situations. Some of the common Pakistan source Incomes are as under
Salary received or receivable from any employment exercised in Pakistan wherever paid
Salary paid by, or on behalf of, the Federal Government, a Provincial Government, or a local Government in Pakistan, wherever the employment is exercised
Dividend paid by Resident Company
Profit on debt paid by a Resident Person
Property or rental Income from the lease of immovable property in Pakistan
Pension or annuity paid or payable by a Resident or permanent establishment of a Non-Resident
Any Income, which is not a Pakistan source Income is called foreign source income.
An Individual;
A Company or Association of Persons incorporated, formed, organized, or established in Pakistan or elsewhere;
The Federal Government, a foreign government, a political subdivision of a foreign government, or a public international organization
It is twelve months ending on the 30th day of June, i.e., the financial year, and is denoted by the calendar year in which the said date falls. For example, the tax year for the period of twelve months from July 01, 2017, to June 30, 2018, shall be denoted by the calendar year 2018, and the period of twelve months from July 01, 2018, to June 30, 2019, shall be denoted by the calendar year 2019. It is called the Normal Tax Year.
Special tax year means any period of twelve months and is denoted by the calendar year relevant to the Normal Tax Year in which the closing date of the Special Tax Year falls. For example, the Tax Year for the period of twelve months from January 01, 2017, to December 31, 2017, shall be denoted by the calendar year 2018, and the period of twelve months from October 01, 2017, to September 30, 2018, shall be denoted by the calendar year 2019.
Income Tax can be paid online by following these simple steps:
A person can file an online Income Tax Return by logging into Iris. Iris is an online portal where Income Tax Return is filed.
If you are a first-time Income Tax filer, registration will be required before filing your Income Tax Return.
After registration, you can log into Iris and file your Income Tax Return. Those having obtained a National Tax Number (NTN) or Registration Number but do not have credentials to log into Iris can get access by clicking on ‘E-enrollment for Registered Person’
E-enrollment with the Federal Board of Revenue (FBR) provides you with an NTN or Registration Number and password. You can log in to Iris by entering your NTN or Registration Number and password.
To pay your Income Tax dues, the person must log into the efile online portal.
You can log into efile using the same credentials you used to log into Iris. After logging into the efile, the person has to access the e-Payments tab.
In the e-Payments tab, the person will access Create Payment and select the Income Tax Annual Return option.
The resulting selection will lead you to the Income Tax e-Payment page. On this page, a payment slip (PSID) will be created by:
Selecting the relevant Tax Year
Typing the Tax amount due
Selecting the mode of payment
Clicking the create button at the bottom of the page
Confirm the e-Payment created. This will successfully create your e-Payment slip. The e-Payment slip can be deposited in any National Bank (NBP)/State Bank (SBP) branch. Select the nearest city where you want to deposit the payment slip from the drop-down list.
Click the print button to download the PSID on your computer. Deposit the PSID in any of the available branches of the city of your choice.
A Computerized Payment Receipt (CPR) is generated after paying the tax due. This is reflected in Iris within 24 hours of depositing the payment.
Tax payable is to be made on or before each person’s designated Income Tax due date.
Failure to pay the tax payable on the due date will attract a penalty, default surcharge, or both. Failure to pay your tax dues is an offense punishable on conviction with a fine or imprisonment for a term not exceeding one year or both.
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