July 22, 2024 The Federal Board of Revenue (FBR) has opened its online portal for filing annual income tax returns for the tax year 2024. As the deadline approaches, taxpayers must be aware of the necessary documents to avoid penalties. The FBR has set a return filing deadline of September 30, 2024, for salaried persons, business individuals, Association of Persons (AOPs), and companies with a special accounting year. Meanwhile, companies with an accounting year from July to June have until December 31, 2024, to file their returns. Before starting the return filing process, taxpayers should gather all required documents to ensure a smooth and complete submission. According to tax experts, the following documents are essential for different categories of taxpayers: For Salaried Individuals 1. Salary Income Certificate or Tax Deduction Certificate: This certificate, typically provided by the employer, details the salary earned and the tax deducted at source. It is a crucial document for accurately reporting income and taxes paid. 2. Evidence of Other Sources of Income: Salaried persons should include documents evidencing any additional income sources, such as rental income. This ensures all income streams are reported, preventing discrepancies and potential penalties. 3. Certificates of Profit on Investments: These certificates detail any income earned from investments such as fixed deposits, mutual funds, or savings accounts. Including these ensures that investment income is accurately reported. For Business Individuals, AOPs, and Companies 1. Income from Business Details: This includes comprehensive records of sales, purchases, stocks, salaries, utilities, rent, petrol expenses, and other business-related expenses. Maintaining detailed and accurate records is crucial for correctly determining taxable income and allowable deductions. 2. Income from Property: Documents related to rental income, such as lease agreements and rent receipts, should be included. This ensures that property income is accurately reported and taxed accordingly. 3. Income from Other Sources: Any additional income sources, such as dividends, interest, or other investments, should be…