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FAQs

Taxvite is going to facilitate you in filing your annual taxes in most favourable way. We collect basic information about your income, spending and assets and then, make sure you end up paying the least amount of tax possible.

These are the different service packages we provide. In the Classic package, we offer you assistance while you file your taxes yourself. In the Premium Package, our tax-consultant assists you with organising your data organising and then, files your taxes for you. In the Premium Pro Package, a well-versed tax lawyer organises your data and files your taxes!

Yes. The website is 100% secure and all information is strictly confidential.

A quick and easy way to calculate your advance taxes and getting it deducted through the HR department of your company! It is a complimentary service that we provide - it is for salaried individuals only.

For NTN Registration:

  • CNIC/NICOP/POC

For Sources of Income:

  • Salary: Employer Contract/ Salary Slip/ Employer Tax Deduction Certificate
  • Dividend: Dividend warrants received/ CDC Account Statement
  • Bank Profit: Bank Statements/ Withholding Tax Deduction Certificate
  • Rental Income: Rental Agreement
  • Prize Bond – Price Bond related contract

Capital Gain:

  • Property: Sale Deed/FBR notified rates for immovable property
  • Stocks: NCPPL Statement from you broker/CDC Account statement
  • Mutual Funds: Account Statement/ Tax Deduction Certificate
  • Life Insurance: Account Statement/ Tax Deduction Certificate
  • Other Capital Gain: Bank Statement/ Personal Records

Other Inflows:

  • Gift Deeds/ Bank Statements/ Remittances records

For Tax Credits:

  • Proof/Invoice of Donation from approved list
  •  Mutual Funds: Account Statement/ Tax Deduction Certificate
  • Life Insurance: Account Statement/ Tax Deduction Certificate
  • IPO- NCPPL Statement from you broker/CDC Account statement

For Tax Adjustments:

  • Education Fee- Tax Deduction Certificate
  • Banking Withdrawals: Bank Statements/ Tax Deduction certificate from Bank
  • Vehicle: Advance Tax paid on vehicle transaction documents (Transfer, Sale, Purchase, Registration)
  • Property: Conveyance Deed/Sale Deed/FBR nofited rates for immovable property for sale, purchase or transfer.
  • Airline Tickets: Invoices Paid
  • Functions and Gatherings: Invoices Paid
  • Pension Fund Withdrawal: Tax Deduction Certificate

For Wealth statement:

  • Vehicles: Purchase Document
  • Property: : Conveyance Deed/Sale Deed/FBR nofited rates for immovable property
  • Bank Accounts: Bank statements for the Tax Year
  • Mutual Fund: Mutual Fund account statement for the Tax year
  • Stocks: CDC Account statement for the Tax Year
  • Insurance Policy- Insurance Policy Statement for the Tax Year

For Debt Assessment:

  • Overdraft Statement
  • Property mortgage Deed
  • Credit Card Statement
  • Loan lease agreement
  • Borrowing documents
  • Creditor details

If anyone of the following applies to you, then it is your legal obligation to file your due taxes:

  1.  Your annual income (July - July) is equal to or more than 400,000 PKR;
  2. You own a land area of at least 500 square yards (i.e 1 Kanal or 20 Marlas) or flat covering 2000 square feet (i.e 4 Kanal or 80 Marlas) in the rating area; OR you own land equal to or more than 250 square yards (i.e 0.5 Kanal or 10 Marlas) in areas falling under the municipal limits of a city or in Islamabad or in the Cantonment Area;
  3. You own a motor vehicle with a 1000+ CC capacity;
  4. The income from your business exceeds 300,000 per year;
  5. You have a registered NTN number
  6. You are a resident and are registered with any professional body (e.g Pakistan medical and dental council, Punjab Bar council etc) or Chamber of Commerce or any trade or any business

We respond to our emails swiftly - Email us at info@taxvite.com or Call at 0301 2182676

NTN is a National Tax Number - National Tax Number (NTN) is a number used by the government of Pakistan as a means of tracking its citizens, permanent residents, and temporary residents for the purposes of work, taxation, government benefits, health care, and other governmentally-related functions. To be an active taxpayer, you need to register yourself with FBR and get your own individual NTN number.

There are a number of benefits that you can avail after you become an active tax- filer. Like e.g, you will save on registration and transfer of vehicles, you will save taxes when buying/ selling or transfer of Property, you will save on importing items and many more deductions. For If you are a salaried person and are not a filer, you are already paying income tax as the tax of salaried persons in Pakistan is deducted at source by their respective employers. But if they don’t file income tax returns, it makes them non-filers (even tax is being deducted from their salaries) and they end up paying excessive taxes. Salaried persons can enjoy many benefits just by filing income tax returns as they are already paying their taxes. It is mandatory for all salaried persons to fill their income tax returns; whether they are government or private employees.

Wealth Statement is a record of all your assets, liabilities and expenses. It has to be filed by all resident tax-payers - It is a statement that includes details of assets that are in your and your dependent’s (wife, children) name. Some common examples of assets are land, vehicles, jewelry, cash at bank and saving certificates etc. You are also required to provide a detailed account of your personal spending e.g. rent, travelling, utility charges, education and other household expenses.

Yes. Even if you don’t have any assets and liabilities in your name, as a resident tax- payers, you are to file your wealth statement. This statement will show movement of your money from the 1st of July to the 30th of June.

There is a legal penalty for not filing your taxes on time and it starts from PKR 20,000.

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