NTN Registration
Income Tax Filing - Salaried & retired Person
Income Tax Filing - Sole Proprietor
Income Tax Filing - Partnership/PVT Company
Income Tax Filing- NPO/Charitable Trusts
Private Limited Company Registration
Single Member Company Registration
Limited Liability Partnership Registration (LLP)
Partnership or AOP Registration
NPO Registration with SECP
Trademark Registration
Copyright Registration
Patent Registration
IRIS Profile Update
Income Tax Filing Partnership/PVT Company
Income Tax Filing Partnership/PVT Company
Income tax filing for partnerships and private companies involves reporting the business’s income, expenses, and profits separately from the owners’ personal returns. It requires detailed financial statements and adherence to specific tax regulations for accurate filing and compliance.
Requirements
For Income Tax Filing for a Partnership Private Limited Company, the following are required:
- Company Registration: The company must be registered with the Securities and Exchange Commission of Pakistan (SECP) as a Private Limited Company.
- National Tax Number (NTN) and Sales Tax Registration Number (STRN): The company should have a valid NTN and STRN registered with the FBR.
- Partnership Agreement: A detailed partnership agreement that outlines the roles, profit-sharing ratios, and responsibilities of each partner.
- Financial Statements: Audited financial statements, including the Profit and Loss Statement, Balance Sheet, and Cash Flow Statement.
- Bank Statements: Complete bank statements for the entire financial year.
- Invoices and Receipts: Proper records of all sales invoices, purchase receipts, and deductible expenses.
- Previous Year’s Tax Returns: Copies of tax returns filed for previous years, if applicable.
- Employee Payroll Records: Complete payroll records, including salaries, bonuses, and deductions.
- Shareholders’ Details: Details of all shareholders and their respective shareholding percentages.
How Taxwork help you
How TaxWork.pk will assist you with Income Tax Filing for a Partnership Pvt Company:
- Comprehensive Documentation Review: We thoroughly review all your financial documents, partnership agreements, and other relevant paperwork to ensure compliance.
- Tax Computation: We accurately compute the company’s taxable income, considering all deductions, allowances, and applicable tax credits.
- Tax Return Filing: TaxWork.pk will prepare and file the company’s tax return with the FBR, ensuring timely and accurate submission.
- Tax Planning and Advisory: We provide expert tax planning advice to minimize your tax liability and offer guidance on all tax-related matters.
- Ongoing Compliance Support: We assist with ongoing compliance requirements, including withholding tax obligations, sales tax returns, and any queries from tax authorities.
- Audit Support: If the company is selected for an audit, TaxWork.pk will guide you through the process, ensuring all documentation is properly handled and submitted.
FAQ's
FAQ's
What is the deadline for filing a tax return for a Partnership Pvt Company?
The deadline for filing a tax return is typically by September 30th following the end of the financial year, but it’s advisable to confirm the exact date each year as it may vary.
Are partners' individual incomes taxed separately from the company’s income?
Yes, the company’s income is taxed at the corporate level, while partners are taxed individually on their share of the profits as per the partnership agreement.
How does TaxWork.pk handle withholding tax obligations for my company
TaxWork.pk ensures that all withholding tax obligations, such as those on salaries, dividends, and payments to suppliers, are accurately calculated and timely deposited with the FBR.
What should I do if my company receives a notice from the tax authorities?
If your company receives a notice from the tax authorities, contact TaxWork.pk immediately. We will handle the correspondence, provide the necessary documentation, and represent you in any dealings with the FBR.
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