Taxpayer Profile
- Updating the Taxpayer’s Profile under the Taxpayer’s Account in Iris System is a new requirement recently made under Section 114A of the Income Tax Ordinance, 2001 in Pakistan. Not updating Taxpayer Profile online by the Taxpayer within due date, there is a penalty of a minimum of Rs10,000/- per day after the due date.
- The 31st December 2020 was the last date for updating of Taxpayer’s profile which has been extended up to 31st March 2021.
- A taxpayer can see his or her Profile in IRIS Account by clicking the heading of ‘My Profile(s)’ in the second menu bar as shown in the below picture:
- All Taxpayers must avail the opportunity to update their Profile by adding particulars such as Details of their Bank Accounts with IBAN Numbers, Utility Connections, Residential and Business Premises addresses, etc. They can avoid a huge penalty of Rs10,000/- for each passing day after the due date.
- For ready reference, Section 114A of the Income Tax Ordinance, 2001 is reproduced below:-
“114A. Taxpayer’s profile.-(1) Subject to this Ordinance, the following persons shall furnish a profile, namely:-
(a) every person applying for registration under section 181;
(b) every person deriving income chargeable to tax under the head,
“Income from business”;
(c) every person whose income is subject to final taxation;
(d) any non-profit organization as defined in clause (36) of section 2;
(e) any trust or welfare institution; or
(f) any other person prescribed by the Board.
(2) A taxpayer’s profile-
(a) shall be in the prescribed form and shall be accompanied by
such annexures, statements or documents as may be prescribed;
(b) shall fully state, in the specified form and manner, the relevant
particulars of –
(i) bank accounts;
(ii) utility connections;
(iii) business premises including all manufacturing, storage
or retail outlets operated or leased by the taxpayer;
(iv) types of businesses; and
(v) such other information as may be prescribed;
(c) shall be signed by the person being an individual, or the
person’s representative where section 172 applies; and
(d) shall be filed electronically on the web prescribed by the board.
(3) A taxpayer’s profile shall be furnished,-
(a) on or before the 31st day of December 2020 in case of a
person registered under section 181 before the 30th day of
September 2020; and
(b) within ninety days registration in case of a person not
registered under section 181 before the 30th day of
September 2020.
(4) A taxpayer’s profile shall be updated within ninety days of the change in any of the relevant particulars of information as mentioned in clause
(b) of sub-section (2).]”