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0334 5450600
info@arettemc.com
Location
Address: Office 1, 3rd Floor, Safdar Mansion, Blue Area, Islamabad
FAQ
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You will need to provide your salary certificate (for employees), profit and loss statement (for business owners), bank statements, details of property income, receipts for deductible expenses, and any other relevant financial documents. Additionally, you may need to provide withholding tax statements and any other certificates related to tax deductions.
Yes, if you use a portion of your home exclusively and regularly for business purposes, you may be eligible to deduct home office expenses. This can include a portion of your rent, utilities, and maintenance costs. However, you should maintain proper records and receipts to substantiate your claims.
To reduce taxable income, you can invest in government-approved schemes like Voluntary Pension Schemes (VPS), National Savings Certificates, and contribute to provident funds. Claiming allowable tax credits, deductions on Zakat, and donations to approved charities can also help reduce taxable income. Additionally, making use of tax exemptions available for certain incomes and sectors can be beneficial.
If you receive an IRS audit notice, collect your documents, answer quickly, consult a tax professional if needed, and keep all records. You can claim the results if necessary.
If you can't pay your tax bill by the deadline, you should still file your return on time to avoid late filing penalties. You can apply for an installment plan with the Federal Board of Revenue (FBR) to pay your taxes in manageable amounts. It's important to communicate with the FBR and possibly consult a tax advisor to explore options like penalty waivers or extensions.
When meeting with your tax advisor in Pakistan, bring your CNIC (or NICOP), income documents like salary slips, bank statements, and any investment or rental income records. Include receipts for confirmable expenses such as medical bills, charitable donations, and education costs. If you're self-employed, bring your business income and expense records. Also, have your previous tax returns, property tax statements, and any relevant financial documents that could affect your tax situation. These documents will help your advisor accurately prepare your tax return.
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Paying taxes is our national duty, but paying them does not have to be heavy on your profit. When you let the experts at Aretté Management Consultants take care of your business, you will legally minimize your tax liability, maximize your deductions, and optimize your financial strategies.
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Our Office's
Office 1, 3rd Floor, Safdar Mansion, Blue Area, Islamabad
Shop no 1 ground floor near Hamza Book's Pakistan Town phase 1 Islamabad
708, Unit 7, Parkside Lane, Ashbrook Business Park, Leeds, LS115SF
- +92 334 5450600
- imran@aamc.pk
- +92 333 5144327
- mateenpirzada@aamc.pk
- +44 7367 652171
- sajjad@aamc.pk
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