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Wealth Statement
11-05-2011, 12:36 PM
Post: #1
Wealth Statement
My annual income is over half million and income tax department has denied to receive my income tax returns by hand. They have advised me to submit return by eFiling. This is very new for all officers and staff working there, they are all confused, the brokers and lawyers are demanding high rate to submit returns through eFiling. More thing is that mostly people have no enough knowledge of computer, and they could not file the return. I have enrolled and got user id and password from cbr to submit my return.Please guide me how can i fill my wealth statement, whether i should show my unregistered property in statement or not. i have no utility bills because i pay my bills through online and have no details of all my paid utility bills so i could show in my wealth statement. I have land gifted by inherent should i show it in statement or not. Please guide me in this regard i shall remain thankful to you in advance.
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11-11-2011, 12:11 AM
Post: #2
 
Dear
It is not easy to provide u information without having info about data available.
Pls send me ur cell no at my email address faisal@ic-infocon.com
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11-16-2011, 11:21 PM
Post: #3
 
Dear, ur annual income is more than Rs.500000 so u r required by law to submit a wealth statement along with return. In ur wealth statment u will include;
1 - ur total assets and total liabilities
2 - the total assets and total liabilities of ur spouse, minor child and other dependents
3 - details of any assets transferred during the year
4 - expenditures incurred by u, ur spouse, minor child and other dependents
5 - wealth reconciliation statement ...
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