Business accounts
Profit and loss and balance sheet prepared or reviewed.
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We prepare income tax returns for sole proprietors, self-employed professionals, partnership firms and other AOPs: business accounts turned into a tax computation, every withholding credit claimed, partners' shares reported consistently and wealth statements that reconcile.
For sole proprietors and professionals, business income sits inside an individual return, next to personal income and a wealth statement. For partnerships and other AOPs, the firm files its own return and each partner reports their share. Either way, business and personal figures have to reconcile.
Under section 118 of the Income Tax Ordinance, 2001, returns for individuals and AOPs are due by 30 September for the tax year ending 30 June. A business return starts from the business's accounts: income, admissible expenses, tax depreciation on business assets and any minimum tax that applies under the law. Tax withheld by customers, banks and utility companies is then claimed against the liability, and advance tax is reconciled.
For an individual, the business's assets, liabilities and drawings must agree with the wealth statement under section 116. For an AOP, the firm's return and the partners' returns must report the same profit shares. We prepare the business side and the personal side together, using records from our bookkeeping service or your own, and coordinate with our individual tax return and AOP registration services.
A fixed annual fee based on your business size and records.
Profit and loss and balance sheet prepared or reviewed.
Admissible expenses, tax depreciation and any minimum tax applied.
Tax deducted by customers, banks and utilities claimed in full.
Advance tax paid during the year reconciled.
Firm return and partners' shares reported consistently.
Business assets, cash and drawings reconciled with personal wealth.
Turnover agreed with sales tax returns where registered.
Replies if FBR questions the return.
These are the issues we see most often for sole traders and firms.
Returns based on estimates rather than records are hard to defend under section 122.
We prepare proper accounts.Business cash and assets that disagree with the wealth statement invite questions.
We reconcile both sides.Tax deducted by customers and banks is often not fully claimed.
We match credits to FBR data.Profit shares reported differently in the AOP and partners' returns cause notices.
We prepare both together.Turnover that differs from sales tax returns or bank deposits is easy for FBR to spot.
We reconcile turnover first.Missing the 30 September due date brings penalties and affects ATL status.
We file on time.Share records on WhatsApp, by email or from your accounting software.
We review your business, records and last year's return.
A fee based on your records and whether accounts need preparing.
Business accounts prepared or reviewed after year end.
Tax computation and wealth statement walked through with you.
Returns e-filed on IRIS and next year diarised.
Retail and wholesale businesses run by their owners.
Doctors, lawyers, consultants and other practitioners.
AOP returns and partners' returns prepared together.
Workshops and factories with sales tax obligations.
Developers and landlords operating as businesses.
Self-employed people working for Pakistani businesses.
Our team prepares your business accounts, business return and personal wealth statement as one job, so they always agree.
Business accounts, return and wealth statement prepared together.
ACCA and ICAP Chartered Accountant qualifications and an FBR-registered income tax practitioner.
AOP and partners' returns prepared consistently.
Withholding matched to FBR's records.
If FBR asks, the evidence is already organised.
An annual fee agreed upfront.
Have a question that is not here? Send it to us on WhatsApp and we will reply the same day.
Tell us about your business, your records and whether you work alone or with partners. We will quote a fixed fee before any work begins.
Book your free consultationThis page is general information about our services, not tax, legal or financial advice for your specific situation. Laws, rates and deadlines change with each Finance Act and official notification.