Pakistan tax forms 114(1), 114(2), 116, 181

Day 6: Common Tax Forms in Pakistan(Pakistan tax forms 114(1) 114(2) 116 181)

Introduction to Pakistan tax forms 114(1), 114(2), 116, 181

If you’ve ever felt overwhelmed navigating the FBR IRIS portal, you’re not alone. Pakistan’s tax filing system requires using specific forms for income declarations, asset statements, and changes in taxpayer registration. Today, we’ll walk through the four most commonly used FBR forms so you can confidently complete your tax documentation.

📄 Form 114(1) – Income Tax Return for Individuals

This is the primary form used by:

Salaried individuals
Freelancers
Business owners (sole proprietors)
Property owners

Includes:

Declaration of income from all sources
Tax deductions and credits
Tax paid or refundable
CNIC-based filer status

Mandatory for: All individuals who are required to file under Section 114 of the Income Tax Ordinance, 2001.

📝 Form 114(2) – Income Tax Return for Final Tax Regime (FTR)

This form is used by:

Individuals or AOPs (Association of Persons) subject to Final Tax Regime

Applicable to:

Exporters
Contractors
Commercial importers
Certain non-resident taxpayers

Unlike Form 114(1), no deductions are allowed because FTR is treated as full and final payment of tax.

🏠 Form 116 – Wealth Statement

This form shows:

Total assets and liabilities at year-end
Reconciliation of yearly income with net worth
Personal expenditures

Mandatory if:

Your declared income exceeds the taxable limit
You’ve filed a return under Section 114
You receive a notice from FBR for non-filing

Pro Tip: Always ensure your wealth growth is justified by declared income to avoid audit or notices.

🧾 Form 181 – Registration or Update of Taxpayer Profile

This form is used to:

Register yourself as a taxpayer with FBR
Update information such as:
- Business address
- Nature of business
- Bank accounts
- Contact details

Important For:

New taxpayers registering for NTN
Existing filers needing profile updates
Businesses that changed premises or services

🧠 Why Understanding These Forms Matters

Using the correct form:

Ensures legal compliance
Avoids penalties and delays
Helps the system generate accurate withholding and refund results
Keeps your FBR profile clean and transparent

✅ Quick Overview of Key Forms

Form	Purpose	Who Should File
114(1)	Income Tax Return (Normal Regime)	Salaried, business owners, individuals
114(2)	Income Tax Return (FTR Regime)	Exporters, importers, contractors
116	Wealth Statement	All eligible taxpayers
181	Registration/Profile Update	New or updating taxpayers