- Fee: Quotation required
- Online, anywhere in Pakistan
- Filed only after your approval
About this service
A wealth statement is filed with an individual's income tax return. It lists your assets and liabilities at the end of the tax year, your personal expenses for the year, and a reconciliation showing that the change in your net assets is explained by your declared income.
Most problems with returns start here: a property, vehicle or bank balance that does not match the income declared. We prepare the statement carefully so that it reconciles.
- Assets listed at cost with the supporting details
- Loans and other liabilities recorded
- Personal and household expenses estimated realistically
- Gifts, inheritance and foreign remittances documented
- Earlier statements revised where something was left out
Documents required
- Copy of your CNIC
- Property documents with purchase cost and date
- Vehicle registration details and purchase cost
- Bank statements showing balances at 30 June
- Details of investments, gold, cash and business capital
- Details of loans and other liabilities
- Record of gifts, inheritance or foreign remittances received
- Last year's wealth statement, if any
Exact requirements depend on your case. Your officer will confirm the final list after reviewing your details.
How it works
- Complete the short online application (about 5 minutes) and upload your documents.
- A tax officer reviews your details, confirms the fee with you and tells you if anything is missing.
- We prepare the wealth statement, reconcile it with your income and share the draft with you.
- You review the prepared return and approve it.
- Only after your approval is it filed with FBR through the IRIS portal. We then send you the FBR acknowledgment.
Frequently asked questions
Who has to file a wealth statement?
It is filed together with the income tax return of an individual, as per current FBR rules. Your officer will confirm whether it applies in your case.
What does an "unreconciled" wealth statement mean?
It means the increase in your assets is more (or less) than your declared income and expenses can explain. The difference has to be traced and corrected before filing.
Should assets be shown at market value?
Generally no. Assets are declared at their cost — what you paid — with inherited or gifted assets shown according to the rules that apply to them.
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