25M, working at an MNC and paying 25k tax every month — should I start filing tax returns?
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I’m 25M from Karachi and currently working at an MNC. I earn reasonably well and around 25k is already deducted from my salary every month as income tax.
The thing is, I’ve never personally filed a tax return before. Recently I keep seeing everyone talking about becoming a filer/ATL and filing tax returns, so now I’m wondering if I’m actually supposed to be doing it.
Is filing a tax return necessary for someone like me? And if I don’t file, can there be any penalty or problem later?
Also, what actual benefits do you get from becoming a filer in Pakistan? I understand there are lower taxes on things like banking, property, cars etc., but are there any other benefits that actually matter for a normal salaried person?
Honestly, sometimes it feels frustrating paying this much tax when you look at the situation around us. Especially in Karachi, we’re dealing with terrible roads, traffic, water issues, loadshedding in some areas, poor public transport and so many basic problems. You pay your taxes, but then you still have to spend your own money on things that should ideally be provided through public services.
I’m not saying people shouldn’t pay taxes. I just want to understand where my money is going and what I actually gain by properly filing my return, especially when around 25k is already being deducted from my salary every month.
Would appreciate if someone can explain this in simple terms. Should I start filing? What are the actual benefits and what problems could I face if I continue not filing?