Bank Statement alone Cannot Be Considered Proof of Income Bank statement alone cannot be considered proof of income, according to a recent Supreme Court ruling about bank account transactions.  In the past, the FBR generally collected tax by treating the total credits listed in a bank statement ...

Not Declaration All Assets 7 common mistakes to avoid when filing income tax returns with FBR, here is th first big mistake is that people do not declare all their assets. They think that if you declare assets, you will have to pay tax. The fact is that you have to pay tax only if […]...

How to report inherited property in tax return A Complete guide. Accurately reporting assets in the wealth statement of the tax return is a very sensitive and complex step, as even a slight misreporting can lead to legal issues from the FBR. In the current tax season, many people inherit property fr...