In Pakistan, filing income tax returns is a crucial obligation for individuals, businesses, and associations of persons. The tax year in Pakistan is from 1 July through 30 June. An individual is required to file a return of income with the tax authorities on a fiscal year basis. To complete an online income tax return, a person must complete the Return of Income form and Wealth Statement (statement of assets & liabilities) form. The Iris online portal is used to file income tax returns in Pakistan. If a person fails to file their income tax returns by the due date, they will be subject to fines and penalties. The deadline for filing returns is September 30th each year. The amount of the fine is based on the type of entity and the period of delay. If the return is filed within one month of the due date, the penalty will be waived up to 75% .