HA Tax Consultant, Peshawar (2026)

08/08/2026

Income Tax Return Filing Season for Tax Year 2026 Has Started From Today; Be Ready!

Before filing Your tax return,it is important to understand that tax return is not merely a formality or a simple form. It is a legal financial declaration submitted to the FBR, and U are fully responsible for the accuracy of every figure,statement & disclosure reported in it.

If you are looking for a true professional and careful return filing services, here’s why you should choose HA Tax Consultant

✅ We educate you, we don’t just file your return blindly.
✅ We follow a detail-first approach and ask the right questions before touching IRIS.
✅ Draft return is shared with you before final submission for your review and approval.
✅ Trusted by many valuable clients on this platform. No shortcuts and no seasonal filing approach.
✅ No misguided advice. We simply follow the law and file our tax returns as required by law.
✅ Our service fee is very reasonable considering the professional expertise, personalized support, and high quality services we deliver.
✅ Consistently raising awareness about tax policies especially affecting Pakistan’s salaried class.
Important points (without going into technicalities only for simple income earners) every individual filer should know before filing:

• Prepare your complete financial data first including income, expenses, assets, liabilities, bank accounts, investments, loans and major transactions. Filing without preparation usually creates errors and missing entries.

• Don’t rush to file in one sitting. Review every figure carefully before final submission.

• Keep proper supporting documents for major transactions such as salary slips, tax deduction certificates, property papers, loan agreements and remittance receipts etc. Records shd ideally be retained for at least 6 yrs.

• If U do not have proper taxation knowledge, avoid self-filing only to save a small fee. A wrong declaration can create bigger issues later in the form of notices, penalties and rectification costs.

• Be careful of inexperienced or “seasonal” consultants who file returns without understanding your actual financial position. Make sure you choose your tax consultant wisely. Before getting your return filed, check their reputation and level of expertise. Based on my experience, I have seen returns filed by some so-called tax consultants (often charging very low fees)that contained serious mistakes and blunders. Further, in the recent budget, the FBR has introduced heavy penalties for making incorrect disclosures or providing inaccurate information in the income tax return. So be careful.

• First-time filers should always declare their real position. Avoid fake or inflated declarations just to show artificial wealth on paper because unrealistic wealth growth can trigger future scrutiny.

• Always ask your consultant to share the draft return before final submission. Read and understand every figure being declared in your name.

• Timely filing helps you remain on the Active Taxpayer List (ATL),which reduces withholding taxes on banking transactions,vehicle registration, property dealings and many other transactions.

• If U have missed previous tax years, do not blindly file all years together without proper review.Every year shd be reconciled carefully to avoid wealth mismatch issues.

📅 📅 Filing Deadline:30 September 2026 (unless extended by FBR).

This year,FBR has made the tax return forms available in a timely manner,unlike previous yrs. Therefore,the likelihood of an extension appears to be relatively low.Accordingly,taxpayers shd start gathering and organizing the required information and documents now & ensure that their returns r filed well before deadline to remain compliant & avoid last-minute issues & 25K surcharge for not being on ATL.

11/07/2026

Big Relief for People Selling Inherited Property Finance Act, 2026

The Finance Act, 2026 has introduced a very important and welcome relief for people who inherit property. A change has been made in Income Tax Ordinance, 2001, which can significantly reduce the Capital Gain Tax (CGT) payable when inherited property is sold.

What was the problem before?

Until now, if you inherited a property from your parents or any other legal heir and later sold it, the tax was calculated using the price at which the deceased had originally purchased the property, even if that purchase was made 20 or 30 years ago.

Since property prices have increased many times over the years, this resulted in a very high taxable gain and a heavy tax burden on the legal heirs.

What has changed from 1 July 2026?

Now, if you inherit a property, the Fair Market Value (FMV) of the property on the date it is transferred to you will now be treated as your cost of acquisition.

In simple words, you will no longer be taxed based on the old purchase price paid by your parents or the deceased. Instead, your cost will be the market value of the property when it is legally transferred to you.

Let's give you an example

Suppose:

Your father bought a plot in 2010 for Rs. 10 lakh.

He passed away on 20 August 2026.

The property was transferred to your name on 15 October 2026.

On that date, the property's market value was Rs. 78 lakh.

You sold the property on 10 December 2027 for Rs. 80 lakh.

Under the old law:

Sale Price = Rs. 80 lakh

Cost = Rs. 10 lakh

Taxable Gain = Rs. 70 lakh (taxed upto 45% as per applicable tax slab)

Under the new law:

Sale Price = Rs. 80 lakh

Cost = Rs. 78 lakh (market value on the date of transfer)

Taxable Gain = Rs. 2 lakh

Instead of paying capital gain tax on Rs. 70 lakh, you will now pay tax only on Rs. 2 lakh. This can save a huge amount of Capital Gain Tax.

One important point

This relief applies only to the calculation of Capital Gain Tax.

The tax collected at the time of sale under Section 236C will still have to be paid when the property is transferred. However, that amount can be adjusted against your final income tax liability while filing your income tax return.

30/06/2026

So, it is law now after the passing of the Finance Bill 2026. The tax relief announced for the salaried class under the Finance Act, 2026, will apply from 1 July 2026. Going forward, our goal is to continue raising our voice for the salaried class and seek the following reforms:

-Increase the lower tax-free slab from Rs. 600,000 to Rs. 1.5 million.

-Reduce the top tax rate from 35% to 30%, with corresponding adjustments to the lower slabs.

-Increase the top slab threshold from Rs. 7 million to Rs. 10 million, along with appropriate revisions to all lower slabs.

-Restore the tax credit on investments in mutual funds.

-Increase the annual exempt limit of the employer's contribution to a provident fund from Rs. 150,000 to Rs. 250,000.

We will continue to advocate for these reforms until the salaried class is taxed on the basis of fair and equitable taxation. We are willing to pay our due taxes, but we want a tax system that treats the salaried class fairly compared with other sectors and segments of the economy.

28/06/2026

File your Tax Year 2026 income tax return (for the period from 1 July 2025 to 30 June 2026) on time, i.e. by 30 September 2026, there will be no surcharge.

As of today, FBR is determining Active Taxpayer List (ATL) status based on the filing of returns for Tax Year 2025. However, following last year's practice, it is expected that from 1 July 2026, ATL status will start being determined based on the filing of returns for Tax Year 2026.

It is also important to note that, under the Finance Bill passed by the National Assembly, even if you file your return after the due date, you may avoid the Rs. 25,000 surcharge for not appearing on the ATL by submitting an undertaking to the Commissioner declaring that you will not purchase, acquire, or obtain any ownership or beneficial interest in property for a period of six months from the date of the undertaking

25/06/2026

In just 5 days, another Financial / Tax year will come to an end on 30 June 2026.

For salaried individuals, this has been one of the most difficult years financially. The cost of living kept rising, prices remained high, and the tax burden continued to weigh heavily on take-home salaries owing to consistent hike in salary tax rates in recent years. As a result, purchasing power declined further.

Many people have used their savings, delayed personal goals, and even taken loans simply to manage their monthly expenses and keep their households running.

The salaried class, which pays taxes through deduction at source and has little room to adjust its income, has been under significant financial pressure. Direct taxes on salaries have been one of the major reasons behind this shrinking financial space.

A new tax year will begin on 1 July. While the government has provided some tax relief for salaried individuals, the relief is still far from enough for many families who have been struggling with inflation and rising living costs.

Let's hope the new tax year brings better days and some real financial breathing space for the salaried class.

20/06/2026

As 30 June approaches and the return filing season for Tax Year 2026 will begin from 1 July 2026, now is the time to start collecting your relevant documents, information, and tax deduction certificates.

The snapshot below provides a general overview of the information and documents you may need to gather for different heads of income before filing your tax return. Without going into technical details, keep this checklist in mind so that you are well prepared when the filing season starts.
For any specific head of income, detailed documentation will, of course, be required in addition to the general information mentioned in this infographic.

20/06/2026

Many friends have been asking about the deadline for filing tax returns in light of the recent budget proposal to increase the ATL surcharge from Rs. 1,000 to Rs. 25,000 (very harsh proposal).

If you are already a filer but have not filed your tax return(s) for the last one or more years, or if you are a first-time filer and plan to make any significant financial transactions (like property sale/purchase etc) before 30 June 2026, you should file your pending tax return(s) immediately and pay the Rs. 1,000 ATL surcharge. This will help you get back on the Active Taxpayers List (ATL) and avoid higher withholding taxes applicable to non-filers. For individuals who do not need ATL status before 30 June 2026, there is no urgency. They can file their Tax Year 2026 return (and other pending tax retuns) after 1 July 2026 without any ATL surcharge, provided the Tax Year 2026 return is filed by 30 September 2026.

However, a surcharge of up to Rs. 25,000 may apply if the Tax Year 2026 return is filed after 30 September 2026(if FBR do not extend deadline). Therefore, if ATL status is important for your planned transactions before 30 June, file now. Otherwise, you may wait and file your Tax Year 2026 return after 1 July within the prescribed deadline.

19/06/2026

Provident Fund vs Pension Fund: A Costly Miss for High Earners

Today I met a salaried individual who has been working in the private sector for the last 15 years. He has built a sizable interest-bearing provident fund balance and has never withdrawn or taken any loan against it.
-Monthly salary: PKR 700,000
-Annual salary: PKR 8.4 million
-Average tax rate: ~25.25%

The Dilemma
At this stage, does it still make sense to let funds accumulate in a provident fund where:
-The annual profit is taxable (beyond prescribed limits), and
-Returns are relatively moderate?

A Smarter Alternative:
If he redirects his annual provident fund contributions into a Voluntary Pension Scheme (VPS):
- He can claim a tax credit under Section 63 of the Income Tax Ordinance, 2001
- This gives him an immediate tax relief of 25% (based on his current tax rate)
- Long-term returns from pension funds can average 10–15% in favorable conditions
- Funds remain locked until retirement, same as his current intention

The Missed Opportunity
By not utilizing pension fund tax credits, he is:
- Paying tax on provident fund profits
- Missing a significant tax-adjusted return advantage (around 8–10%)
- Losing an efficient, government-backed tax planning opportunity

The Real Issue:
When asked why he hadn’t opted for this, the answer was simple:
- Lack of awareness
- Hesitation due to limited understanding

Conclusion:
For high-income salaried individuals, pension fund tax credits are not optional; they are essential.
Awareness can directly translate into savings.

19/06/2026

Investing in a Pension Fund is one of the most underrated tax moves available to salaried Pakistanis.

Section 63 of the Income Tax Ordinance 2001 gives you a direct tax credit, not a deduction, a credit, meaning rupee for rupee reduction in your tax bill. Here's everything you need to know.

THE 3 PILLARS THAT CONTROL YOUR CREDIT
① Taxable Income, salary PLUS every taxable perk, allowance, or benefit your employer gives you (cash or non-cash)
② Tax Payable, your actual tax liability on that income
③ Average Tax Rate, Tax Payable ÷ Taxable Income

This average rate is applied to your pension fund investment to calculate your credit. Change any one of these three and your credit changes too.

THE FORMULA
Step 1 → Average Tax Rate = Tax Payable ÷ Taxable Income
Step 2 → Eligible Investment = lower of 20% of Taxable Income OR Actual Investment
Step 3 → Tax Credit = Eligible Investment × Average Tax Rate

EXAMPLE, Monthly Salary Rs. 400,000
Annual Taxable Income → Rs. 4,800,000
Tax Payable → Rs. 861,000
Average Tax Rate → 17.94%
Max Eligible Investment → Rs. 960,000
Tax Credit = Rs. 172,200
Add a conservative 9% fund return on your investment= Rs. 86,400
Total Year 1 gain = Rs. 258,600 on Rs. 960,000 invested, an effective 26.94% return.

GOT A BONUS? YOUR CREDIT GOES UP
Add a Rs. 500,000 December bonus:
Revised Taxable Income → Rs. 5,300,000
Revised Tax Payable → Rs. 1,036,000
Revised Average Tax Rate → 19.55%
Revised Eligible Investment → Rs. 1,060,000
Revised Tax Credit → Rs. 207,200
Every taxable benefit your employer gives you, such as a cash bonus, car allowance, housing perk, increases your eligible ceiling and your credit. Your taxable income is not a fixed number. Track it throughout the year.

BUSTING THE BIGGEST MYTH
"Your money gets locked in the pension fund."
Wrong. What is restricted is tax-free withdrawal, not access to your money itself.
You can withdraw at any time. Tax is deducted at your average rate from your last 3 filed returns, the tax you would have paid on your salary had you never invested.
So where is the loss? There is none.

THE TIMING TRAP NOBODY TALKS ABOUT
Your employer gives you the credit by reducing monthly tax deductions. But if he has already deposited most of your annual tax to the FBR, he may not have enough left to give you the full credit.
Annual tax payable → Rs. 861,000
Deposited in 10 months → Rs. 717,500
Remaining with employer → Rs. 143,500
Your entitled credit → Rs. 172,200
Shortfall → Rs. 28,700
That Rs. 28,700 becomes a refund claim with the FBR. Anyone who has dealt with FBR refunds knows what that means: years, notices, follow-ups, maybe never.
Invest early. July to December is the sweet spot. Do not wait until March-June.

HOW MUCH TO INVEST?
The eligible amount is a ceiling, not a floor. You do not have to invest Rs. 960,000 in one shot(in the above example).
→ Rs. 50,000/month via standing instruction or whatever amount as per your convenience
→ Lump sum whenever you have liquidity
→ Transfer your company provident fund if it earns zero return, same money, tax credit + investment returns both
Invest slightly above your base calculation to absorb any bonus or perk that arrives mid-year without missing the additional credit.

YOUR CHECKLIST
① Calculate annual taxable income, salary + all perks
② Compute tax payable and your average tax rate
③ Eligible investment = lower of 20% of taxable income or actual amount
④ Invest early, July/August ideally
⑤ Submit proof to your employer immediately
⑥ Track every bonus and top-up accordingly

HA Tax Consultant

08/08/2026

11/07/2026

30/06/2026

28/06/2026

25/06/2026

20/06/2026

20/06/2026

19/06/2026

19/06/2026

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