Difference between filers and non-filers Specified

A person or corporation who does not file a tax

return by the required date. In general, a person

who has filed taxes once must continue to do so

for the rest of his/her life (or existence, if a

corporation). A non-filer may be subject to

interest, late fees, and other penalties.

Filer & Non-filer

The Federal Board of Revenue (FBR) has specified

difference between filers and non-filers of income

tax returns to double rates of withholding taxes

for non-filers under Income Tax Ordinance 2001

through Finance Bill (2014-15).

Filer & Non-filer

A withholding tax, also called a retention tax, is

a government requirement for the payer of an

item of income to withhold or deduct tax from

the payment, and pay that tax to the

government. In most jurisdictions, withholding

tax applies to employment income.

Withholding Tax

Typically the withholding tax is treated as a payment on

account of the recipient's final tax liability. It may be

refunded if it is determined, when a tax return is filed,

that the recipient's tax liability to the government which

received the withholding tax is less than the tax withheld,

or additional tax may be due if it is determined that the

recipient's tax liability is more than the withholding tax. 

Withholding Tax

The amount of withholding tax on income payments

other than employment income is usually a fixed

percentage. In the case of employment income the

amount of withholding tax is often based on an

estimate of the employee's final tax liability,

determined either by the employee or by the

government.

Withholding Tax

Following type of Taxpayers are required to file

the income tax returns: All Companies

All AOPs (Association of Persons)

Sales Tax registered Persons

All Salaried Persons having taxable income greater than or equal to Rs.500,000 per year

All income tax refund claimants

Who are required to file the income tax returns

This term simply refers to any money or service that is

currently owed to another party. One form of liability,

for example, would be the property taxes that a

homeowner owes to the municipal government.

'LIABILITY'

A resource with economic value that an

individual, corporation or country owns or

controls with the expectation that it will provide

future benefit.

'Asset'