Comprehensive Guide: How to Create NTN in FBR Pakistan
Are you ready to take the first step towards tax compliance in Pakistan? Creating your NTN (National Tax Number) in Pakistan is a straightforward process that allows you to comply…
How to File Form 1040NR: A Step-by-Step Guide for Nonresident Aliens
Filing taxes in the U.S. as a nonresident alien can feel overwhelming, but it doesn’t have to be. If you earned income while in the United States and aren't a…
What is Deemed Rental Income Tax Under Section 7E?
Understanding Section 7E: A Comprehensive Guide to Deemed Income Taxation in PakistanDefining Deemed Income And Fair Market ValuePractical Example:Exceptions:Applicability of Section 7E only on Resident Persons.Recent Amendments And DevelopmentsLastlyFrequently Asked QuestionsHow…
How to Get Your 7E Certificate from IRIS
1. Go to the Official Federal Board of Revenue Website2. Log in Using Your CNIC & Password3. Find the 'Tax Chargeable/Payment' Section4. Click on 'Capital Assets under 7E5. Fill Out…
Taxation on Conveyance Provided by Employer in Pakistan
Assessable Amount Calculation For Conveyance Provided by Employer to Employee1. Combined Personal and official use2. Solely for Personal Usage3. Exclusively for Official PurposesImplications and ComplianceConclusionExample: Alia's Conveyance TaxationFAQs (Frequently Asked…
Taxation For Single Member LLC as a Non-Resident
If you’re a Non-US Resident with a Single-Member LLC, you need to file Form 5472 and Form 1120 every yearThe Need for an EINWhat This Guide CoversThe Importance of ComplianceUnderstanding…
How to Create LLC in Wyoming From Pakistan
The Comprehensive Guide to Create LLC in Wyoming: A Step-by-Step Approach"IntroductionStep 1: Name Your LLC in WyomingStep 2: Choose Your Wyoming Registered AgentWho is a Registered Agent?Step 3: Purchase a…
Understanding Taxation on Rental Income Between Individual/AOP & Company
Introduction In Pakistan, rental income is subject to taxation, whether it's earned by an individual, an Association of Persons (AOP), or a company. Understanding the nuances of how Taxation on…
IT SECTOR TAXATION IN PAKISTAN 2024
IT SECTOR TAXATION IN PAKISTAN 2024Section 4C (Super Tax):1. Section 152 (Payment to non-residents):2. Section 153 (WHT on IT & IT enabled services):3. Section 154A (Export of services, FTR conditions):4.…
Business Tax Return in FBR Pakistan: A Comprehensive Guide
IntroductionWhy is Filing Business Tax Return in FBR Pakistan Important?Understanding Business Tax ReturnWhat is a Business Tax Return?Who Needs to File a Business Tax Return?Preparing for Business Tax Return FilingGather…
Understanding Extension of Time for Furnishing Returns
Introduction Extension of Time for Furnishing ReturnsSection DetailsWhat is Section 119 about?How to Apply for an ExtensionGrounds for ExtensionDuration of ExtensionImportant NoteConclusionTable FormatPractice ExamplesScenario 1: Absence from PakistanScenario 2: Sickness…