The complete process of NTN registration cmalawassociate.com/the-complete-process-of-ntn-registration July 28, 2022
NTN, or National Tax Number, is a shorthand for the identifying number provided by the FBR. You can apply for NTN registration online, or you can visit a branch office, depending on the size of your business. Here’s a complete guide to the process of NTN registration in Pakistan.
Which persons are required to register themselves Following persons are applicable for NTN registration: Firstly, every individual whose income chargeable to “Salary” exceeds seventy-five percent (75%) of his taxable income and whose taxable income exceeds Rs. 600,000/- for the tax year 2020 is required to register with NTN. Secondly, except for the aforementioned salaried individuals, everyone whose taxable income exceeds Rs. 400,000 must register with NTN by the end of the tax year 2020. Thirdly, for the tax year 2020, registration is required for any AOP (Association of Person) whose taxable income exceeds Rs. 400,000. Under the Income Tax Ordinance of 2001, registration is a requirement for every firm. Most importantly, According to Section 114 of the 2001 Income Tax Ordinance, every registered person must submit an annual income tax return. Every registered person must enter bank account information within 90 days of registration. Lastly, everyone needs a registration to register for the sales tax (STRN). Concerned person requires registration and Income Tax Return Filing to be added to the Active Taxpayer List (ATL).
Complete procedure Of NTN registration An individual’s registration number is a 13-digit CNIC number, whereas a company’s registration number is a 7-digit FBR number. Please feel free to contact us if you need any help with registration or completing a sales tax return. The FBR now allows registration through the online IRIS Portal with just six easy steps.
Step 1: Launch the FBR IRIS Portal.
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