04-23-2007, 05:00 PM
Generally the return in respect of a company is required to be filed by 31 December each year.
Preparing tax return of a company required detailed knowledge of the tax laws, particularly in respect of the following areas
1. Inadmissible Expenses
2. Tax Depreciation / Tax working for Disposals (as per third schedule of the Income Tax Ordinance, 2001.
3. Understanding of various heads of income and how to calculate taxable income (Property income, capital gains etc.)
4. Income subject to final taxation
5. Apportionment of expenses between normal income and income subject to final taxation
6. Adjustment of withholding tax and advance tax
If you have not prepared a tax return before, I strongly advise you to seek the expertise of a qualified person / firm.
Regards,
Mahmood Chaudhry
ACCA, ACA
Preparing tax return of a company required detailed knowledge of the tax laws, particularly in respect of the following areas
1. Inadmissible Expenses
2. Tax Depreciation / Tax working for Disposals (as per third schedule of the Income Tax Ordinance, 2001.
3. Understanding of various heads of income and how to calculate taxable income (Property income, capital gains etc.)
4. Income subject to final taxation
5. Apportionment of expenses between normal income and income subject to final taxation
6. Adjustment of withholding tax and advance tax
If you have not prepared a tax return before, I strongly advise you to seek the expertise of a qualified person / firm.
Regards,
Mahmood Chaudhry
ACCA, ACA
