Companies with a 30 June year-end have until December 31, 2026 to file, but IRIS sessions time out fast and the wealth/turnover sections trip up first-time filers, so don’t leave it to the last week.
Here’s the actual filing process, from gathering documents to submitting Form 114 on IRIS and claiming your PSEB exemption where it applies.
What you need before you open IRIS
Gather everything first IRIS logs you out after roughly 15 minutes of inactivity, and partial entries don’t always save.
- NTN and IRIS login credentials for the company and its principal officer/directors
- PSEB certificate, if you’re claiming the startup exemption under Section 100D
- Bank statements for all company accounts covering the full tax year
- Sales and purchase records, plus a basic profit-and-loss summary for the year
- Withholding tax (WHT) certificates from clients or banks, to cross-check what’s already been deducted at source
- Prior year’s return and wealth reconciliation, if this isn’t your first filing
- SECP incorporation certificate and company bank account details
The filing process — step by step
| Step | What to do | Details |
|---|---|---|
| 1 | Log in to IRIS | iris.fbr.gov.pk, using the company’s NTN and password |
| 2 | Select return type | Go to Declaration → Income Tax Return → select Tax Year 2026 and “Company” as taxpayer type (Form 114(III)) |
| 3 | Enter business income | Declare gross revenue, cost of sales, and operating expenses under Section 18 to arrive at net profit; FBR cross-checks declared turnover against the 1% minimum tax under Section 113 |
| 4 | Claim your PSEB exemption | If certified, attach your PSEB certificate and apply the exemption under Section 100D — this is a separate action from simply entering income, and it’s the step most founders miss |
| 5 | Verify withholding tax already deducted | Match WHT credits (often pre-populated from CPR data) against your own certificates before accepting them |
| 6 | Complete supporting schedules | Enter any WHT exemptions claimed under Clause 43F/Section 153 for payments received from clients |
| 7 | Reconcile and review | Check that declared income, expenses, and any change in company assets are internally consistent before submitting |
| 8 | Pay any remaining liability | Generate a PSID (Payment Slip ID) on IRIS and pay via any major bank — HBL, MCB, UBL, Meezan, etc. |
| 9 | Submit and download your acknowledgment | Your filing only counts once the form moves from Draft to Completed Task — save the acknowledgment receipt as proof |
Common mistakes that delay or block submission
- Filing before PSEB certification is claimed — the exemption doesn’t apply itself; you have to actively attach it under Section 100D.
- Turnover mismatches — declaring revenue that doesn’t reconcile with the 1% minimum tax check under Section 113 flags the return for review.
- Skipping WHT verification — accepting auto-populated credits without checking them against your own certificates can under- or over-state your liability.
- Waiting until the last few days — IRIS traffic spikes hard in the final week before a deadline, and timeouts get worse.
After you submit
Keep the acknowledgment receipt on file — it’s your only proof of on-time filing if a dispute comes up later. If you claimed the PSEB exemption, keep the certificate and your IRIS submission record together; you’ll need both again next year, since the exemption runs for three tax years from certification, not indefinitely.
Filing before the deadline? Get your PSEB certificate and documents together now — start your return on FBR IRIS →
