Befiler Blogs

Blog

  • Why You Should Become A Filer

    Why You Should Become A Filer

    The percentage of people acquainted with the concept of tax filing in Pakistan is significantly low. In the recent years, the governments in power have attempted to introduce various incentives to encourage people to become filers. To help you better understand why you should become a filer, this blog gives a summary of benefits of becoming a filer.

    Saving on Banking Transactions

    • The Govt. has introduced withholding tax on cash withdrawals exceeding Rs. 50,000, but the withholding tax rates for filers and non-filers are different. A non-filer is subject to withholding tax rate of 0.6% on cash withdrawals compared to 0.3% for a filer. Thus, on a cash withdrawal of Rs. 100,000, a filer would be subject to withholding tax of Rs. 300 vs. Rs. 600 for a non-filer. Additionally, the filer can easily adjust this tax deduction against his other tax liabilities like tax on salaries. So effectively, the filer pays no tax on cash withdrawals but a non-filer does.
    • Similarly, for banking transactions other than cash withdrawals, a non-filer is again subject to withholding tax rate of 0.6%. Whereas, a filer is not subject to any tax on these transactions. So for example if a non-filer makes a payment to someone even through a cross cheque of say Rs. 100,000, he / she will again be levied a withholding tax of Rs. 600 on the said transaction. A filer is subject to only 10% withholding tax on bank-related profits, whilst a non-filer is subjected to pay higher tax deduction at 17% on banking profits.

    Sell and Purchase of Vehicles and/or Property

    • Only a filer can purchase property worth more than Rs. 5,000,000.
    • Only a filer can purchase a new or imported car.
    • A non-filer pays 50% or more tax on account of annual token tax and tax on vehicle registration.
    • Tax on property transfer for non-filer is 2% compared to 1% for a filer.

     

    Lesser Tax Deductions on Profits on Savings, Investments and Capital Gains

    • A filer is subject to 10% tax on profits on bank deposits and saving schemes compared to 17.5% for a non-filer
    • A filer saves tax on dividends as well. A non-filer is subject to 15% tax, whilst a filer will pay only 12.5% tax on dividends.
    • A major tax saving occurs on prize bonds where filer has to give only 15% of tax on earning of price bonds whilst non-filer subjects to pay 25% of taxes.

    The above listed benefits highlight that tax filing is the best way to save yourself from paying higher taxes on an array of transactions. Apart from that, by filing your tax, you contribute towards the stability and improvement of your country’s economy, while also saving yourself from getting legal notices, or call for inquiries from the FBR.

     If you would like to receive more information on any of the tax related matters, feel free to comment below. Share this blog with your friends, family, and social groups who might be still weighing the odds of becoming a filer, and tell them why they should definitely become one.

  • NTN Registration with Befiler is Fast and Easy!

    NTN Registration with Befiler is Fast and Easy!

    A complete guide to Befiler NTN Registration Process

    The prerequisite for filing an income tax return is having a National Tax Number – NTN by registering with Federal Board of Revenue (FBR).

    In this blog, we will tell about the NTN registration process using Befiler.com. Log on to www.befiler.com to start the process. Sign up by entering your Computerized National Identity Card Number (CNIC), full name, email, and cell phone number. Next, check your email for a Welcome Email by Befiler.com where you will find a verification link. Click on the link to activate your account and create your password to sign in.

    When you sign in, the portal gives two options; (a) NTN registration; and (b) Filing tax return. Select NTN registration and follow the easy three step process:

    1.      Documents Submission

    The first step for NTN registration is to submit a copy of CNIC or passport. Click the register tab to proceed to the next step.

    2.      Enter Billing Information

    Next the portal asks the user to submit the billing information including full name, Email address, mobile number, residential address, and billing address. The image is given below for your assistance.

    On the right you can see multiple payment methods and the service fee. Befiler accepts payments through credit card (both Visa & Master), SIMSIM, and Keenu Wallet.  Select the payment method suitable to you, and click Continue to proceed.

    3.      Payment

    You are just a step away for submitting the application for NTN registration. You will be required to enter relevant details for the selected payment method chosen earlier. Once done, click “Pay” to finish the process.

    Befiler sends a notification email when the payment is received. Our representative will call you to coordinate the registration process. Expect to receive your NTN in a maximum of three working days from the date of application.

    To stay connected and learn more about Befiler.com, like our Facebook page, and subscribe to our YouTube Channel.

  • Befiler – Your Smart Tax Assistant for Income Tax Return Filing

    Befiler – Your Smart Tax Assistant for Income Tax Return Filing

    Why Befiler

    BeFiler.com is here to make life easy for you. It is an online tax portal to help you prepare and file your income tax return. Whether you are looking for NTN registration, or wish to check your NTN status, befiler.com is your one stop solution. It also features a handy salary tax calculator on Homepage for you, so you can gear up for your tax return preparation.

    Any individual who can use electronic devices like computers, cellphones, and/or tablets to access the portal can file their tax returns by signing up on Befiler. Using the official website address befiler.com will lead you directly to BeFiler portal where you can easily access all features of Befiler.

     

    Free Sign Up

    Befiler offers free sign up by filling in your basic information like CNIC Number, Full Name, Email, and Contact Number. If you are wondering it is that easy and free to create an account, the answer is, Yes it is.

    Once you sign up and log in, you are required to answer questions in a yes and no format and enter relevant details to finish the process. Tutorial videos are available on Befiler Youtube Channel to guide you along the way.

     

    NTN Registration and Tax Preparation

    If you are filing your income tax return for the first time, and do not have an NTN, you can simply request for an NTN through our website. If you already have an NTN, you should start by checking the status of your NTN. You can proceed by entering your CNIC, and the verification code on the screen.

    Saving on Taxes

    Paying taxes is only half the process. Until you file your income tax return, you are still liable to penalties. By becoming a filer, you fulfill your national responsibility and become eligible for tax rebates. By claiming tax rebates you save on taxes.

     

    Become a Befiler and Avoid Penalties

    In order to encourage individuals to become filers the tax rates on banking transactions, buying and selling of properties and vehicles are kept lower than that for non-filers.

    Befiler is the easiest and most accurate way to prepare your tax return. Become financially empowered by managing your tax returns yourself.