How to File Wealth Statement | Understand and Reconcile Wealth Statement Easily

[@gulzarzeb]

Best video I ever see .... I learnt a lot... May Allah grant yiu reward

[@Legalversity]

Thanks for your feedback.

[@ishaquemalik3863]

❤❤❤❤❤❤ Sir i m very thankful to you for uploading such a very very informative vedio. I learnt how to file wealth statement from this vedio. May Allah give you long life, health, wealth, success ,prosperity and keep you always happy and smile. آمین آمین

[@Legalversity]

Thanks for your feedback.

[@MuhammadUsman-dk4kt]

really really helpful bro But also make a video on if a person is doing job + freelancing then how he should be filed ?

[@taimurkhalid]

1. Kya wife (jo husband per dependent hai) us k assets bhi husband ki wealth statement men show karna hongy? 2. Shadi per jo gold gift/dowry men milta uski value shadi k waqt wali show karni hogi ya jis sal first time file kar rahy hn us sal ki?

[@amjadshahzad1962]

Weldon sir bht acha sy smja rhy ha ap Allah pak apko jazay khair atta farmy Apky ilam main amal main barkat ata farmy ameen

[@Hamidjfthunder]

Zabardast bht acha or asaan kerdia aapne jazakallah

[@Legalversity]

Thank you so much for your feedback.

[@moazamali3629]

In business section , there is head of business assets and liabilities.assets include stock , spares, others plant land etc Where as liabilities include capital , credit and other liabilities. business capital in wealth statement also appears. Difference between both !!! As a business individual , it’s mandatory to disclose business capital in wealth statement , because its alreay declared in business assets and liabilities.

[@mzulfiqarahmmad9484]

السلام عليكم ورحمة الله وبركاته.sir ma na dowery ka gold incomtax return ma add kiya tha first time 0 value k sath .ab us ma sa kuch gold sale kiya uski price 2022 ki return ma kis head ma enter krni aor kia is incom pr tax prta?please guide me

[@qasirsiddique2377]

Best video I ever see.

[@MariumAhmad-y9f]

jin electricity bills ko enter wo bills par name hamara hona chiaye ? ya yeh ho sakta ha kay name aur ka ha aur bill pay hum kartay ha to entry kar day?

[@sweetbotanist9212]

sir bohat aala best vedio on this topic

[@Hamidjfthunder]

Sir let me know manay aapki vdos dekh k alhamdulilah sahi return file kerlia hai 2020-2021 ka first time .. poochna ye tha k 2019-2020 ka b ker sakta hu is k bad ya pahle 2019-2020 keru phir 2021?

[@Legalversity]

Dear brother start from old and then New.

[@waqastariq5941]

precious possession main koi item sale kia , aus sale ki wajh say jo capital inflow hua hai woh kehan show karien aur kia aus profit per koi tax ho ga.

[@Legalversity]

Reconcile tab men under Gain head men, no tax on that.

[@rehanalis8112]

Income Declared as per return for the year subject to Normal Tax(7031) main before income tax amount likni hay yaan after deducting income tax from salary amount likhni hay

[@rananadeem6480]

Aoa brother, ap ne video k end mn property ky sale ky baat ky.ap ne gain show krne ky baat ky.ok lakin sath ap ne btaya k us ky purchase price ku delete kr den.iss sorat mn tu ap ky principle amount km hu jai gy.1lac purchase, 1.2 lac ky sale, gain shown .2 lac, lakin purchase ka 1lac kahan show hu gaa.umed hay clarify kr den gay.regards

[@nomy207]

very informative video... one question please: should we enter purchase value/ (registry value) of property or market value? thanks

[@skartstudio8824]

Purchase value

[@skartstudio8824]

As i think

[@nomy207]

@@skartstudio8824 i think the same because paid tax will appear in fbr system as per the registry value... but still not sure..

[@muhammadumair-qj8cx]

Sir. How we show our gratuity in assets at present that we will receive from company when we will resign in future?

[@hurerashoraiz6288]

Kindly clear one thing. You mentioned saperately about salary, business and freelance. I am a salary person as well as business, for example i got 4 lac from salary and 6 lac from business, then should i enter 4 lac in salary portion and 6 lac in business portion ?

[@ashrafrao6872]

Entering value of inherited assets in assets and liabilities portion, and then entering same value in inheritance while reconciling assets , it gets double. For example if my inherited assets are 10 lac while reconciling I enter 10 lac the value of my currents assets jumps to 20 lac , how can I resolve this?

[@ihsanulhaq9529]

pl tell me treatment of interest on HBFC house loan in a income tax return.thanks

[@hafizaqif8164]

Thanks for the information, excellent work. If a non resident have Assets in Pakistan and never declared before in wealth statement as not required, can he add these assets in current year wealth statement?

[@Legalversity]

Yes brother he can. Its optional but if he wants to then he can

[@hafizaqif8164]

Problem when all asset entered into current year then it doesn't reconciled

[@dr.rananasir4381]

Very good masha Allah...if in previous year returns 10 tola gold was shown...now sold during the year...any tax applicable on this capital gain??? Plz reply

[@asifkazmi]

Very informative. Thanks dear

[@Legalversity]

So nice of you

[@SindhiScienceChannel]

What about "Policy' (7006) ? If I have deposited premium in a life insurance policy, shall I declare it here as an asset?

[@muhammadwaqas9787]

Kia inheritance money per tax dena hota hai...ya nahi

[@roheelnawaz9225]

Excellent job. very well explained sir. Thanks

[@Legalversity]

Thanks for your feedback.

[@sawaizniaz1034]

Others line item in reconciliation tab me hm tax deducted on salary len ge?

[@SAJJADHUSSAIN-zk9jm]

Sir assalamualaikum Income tax me last year aor current year k assets equal kasy kr skty hain ye bta dain.

[@muzammilhussain157]

Brother agriculture income ko wealth statement mai kaha add karte hain

[@farhanazmat2851]

AoA overall nice briefing... I want to know abt my car 1000 cc I'm filer since 2018 and mention car in asset with value and in 2022 tax yr I have sold with gain so I'm asset I show my sold 17/6/22 and plues gain in asset and More over in disposal of asset etc in wealth statement gain is also show up...??

[@Legalversity]

Dear brother watch today's this video to get the answer: kzbin.info/www/bejne/Y2jFl398mLBmhZY make sure to understand all.

[@mohammedowais3931]

Dear Sir 1. As per circular No.5 .. Foreign Remittance Received thru proper Banking channel. 2. USD 1000 withdrawn from Usd a/c & encashed from SBP authorised dealer Exchange House against invoice .... 3. IS IT WHITE MONEY. FOR FBR thanks.....

[@Legalversity]

Yes it is.

[@mukarramali174]

Valuation kasay karain gay k maray 10 marla gur ki is waqat yah value ha? I am filing first time to mujay apna gur declare karna ha tax return main to us ki current value kasay nikaloon ga.

[@suhailahmed3961]

How to cancel liabilities? i put 200000 Rs liabilities in my year 2021 returns, but next year deal cancelled than how to cancel my liability of 200000 RS in my 2022 statement. as when i deleted my liability in returns of 2022, the 200000 Rs added up in my assets/income. how to solve this issue?

[@SyedKhuramFiaztech]

Aqr ma Kisi koi payment loan di hy to wo kahan mentioned ho gi pl reply

[@AsifJaved-lc5kk]

Sir wealth statement me code 7033 me kya value put kren?

[@Qaiser76]

nicely explained. Can you tell us which income is to be mentioned at code 7033 in reconciliation of assets?

[@Legalversity]

Explain that heading

[@EVC2877]

Brother ju fixed assets ke value ha market value ke base put Karni ha ya purchasing point of sa put Karni ha

[@Legalversity]

Deae br8Jis price pay apny purchase kia or jiska proof apky pass mojood he.

[@drshafaatmohammad1009]

In reconciliation,we have to put Gross salary or amount after tax deduction

[@shamtabtech9414]

Sir many apni wife k Nam py saving account ma fix karwaya howa hai us amount Ko mujh apny assets my mention Karna lazmi h Kia ??? Or Ma kaha mention Karo ga???

[@Legalversity]

Wealth statement men bank account add kren wo wala and amount likh den bus.

[@shamtabtech9414]

@@Legalversity aur wife kasy mention Kar skti hai k ya amount mary Husband ki hai ???

[@arshadali-p8y]

Please tell me what is the effect on wealth reconciliation statement if there is contribution by family members.

[@Legalversity]

Nothing just add in your value and calculate it.

[@AbdulSamad-vx5rv]

Very nice ager humny kisi sy loan lia or ek week mai return krdia through bank with cheque to return mai kha show kary gy

[@mrarshad2931]

hi I try revise previous submitted tax return as not mention profit on debt from saving bank and total investment amount add in wealth statement and now once try calculate then previous NET assets amount same appear while previous year return already revised and submitted please make guide video about this issue or guide here waiting for you

[@muhammadaetzazahsan4848]

You explained it very well.

[@Legalversity]

Thank you

[@azamfarooq6482]

Plot profit ko gain value ma likhny sy tax to lago nahi ho ga

[@CarsandMarketing]

. Sir virasat ki taqsem agr 3 beto or 1 baywa me krni ho to hr ek ka kitny % hissa bany ga?

[@FAHADHASSANSYED]

Well Explained !!

[@JDMian]

And what is the taxable income in 2021 for a Salary person?

[@Legalversity]

Taxable income is 6 lakh for a salary person.

[@asifhydro3]

Sir kisi se loan le ker property li ho to balance kaise kreien ge

[@Fshah1]

Salaam, I got confusion in un-reconciled amount. As per my understanding un-reconciled amount need to put in inflow (gift, others etc) if it is positive and put the same figure in outflow (expenses and others etc) if it is in negative. My Unreconciled Amount is Rs 5,198,966.00. it became zero when I have put the same in inflow. This is a large amount. Please advise me if it is okey. My income (Inflow) is only based on rental income and profit from Bank. My outgiing (Outflow) is normaly zero. Thanks

[@MuhammadKhan-s6l]

A question if you can reply total earning 10lac the, 35000 saving 650000 expenses kr k equal krdia to tax kaha fix hua

[@imranbashir1850]

Very nice 👍👍👍

[@fragileheart9640]

Salaam, a quick question if you please reply asap. " father gifted a property to son, but father still taking the rent. Should rental income be shown in Father's return?"

[@neatandnetae]

If the electricity and household bills are not in my name, what should I do in this case? Can I still mention those amounts?

[@Legalversity]

No brother.

[@aurangzeb5698]

Sir salary person return ki audit hoti ha k na.

[@Legalversity]

Dear brother, ho jati he and nahi bhi, but not to worry about as salary person's all record is already with FBR

[@JavedKhan-YT422]

Bhai m ny year 2022 ki 144(4) return file krni thee tax 0 bna Hy .. Jo apne process btaya wo krlia.. ab us k liay wealth statement ko Lazmi krna Hy ...? Baki mere koi assets waghera nhi hen

[@nmentertainmentofficial]

Brother Mai return wala sab Kuch complete Kar liya hai hai lakin jab submit per click karta hoon to Ak pop-up ata hai jis per Likha hota hai "total asset and total equity / liabilities again codes 3349 and 3399 must be entered before submission" Kiya matlab hai is Ka

[@humanresourcemanagement4293]

Thank you so much 🙏

[@HammadBinSajid]

Provident Fund kaha mentioned krte Salary person k lye? kia wo Wealth Statement mai hote?

[@Legalversity]

Dear brother salary section men he iska head mojood he.

[@HammadBinSajid]

@@Legalversity kindly mentioned it's field name, I can't find it anywhere?

[@adnanjojo]

Thank you Sir

[@asif6226]

Good job 👍

[@Legalversity]

Thanks for your feedback.

[@widerangevideo]

@@Legalversity sir married hony k bad bv k pas jo dono trf ay usy gold wagira milta ha ausy kaha kaisy diclear krna hota ha ya krian gy please is k hawaly sy b btain video ma ya aisy hi kn sy kia trh krian gy. Or cripto ko kaisy deal krna ha cripto profits or investments ko please

[@Legalversity]

@@widerangevideo watch this video completely without skip. You will get your answer.

[@Dr-Ayesha-1]

Life insurance company s Jo tax rebit certificate milta h wo kia h kese hum return m include kren plz guide .

[@ashrafrao6872]

What value I should show of my inherited assets If I dont have registery?

[@Legalversity]

Jis saal registry ho jaye or proof mil jaye tb us saal add kr dena.

[@saithumair2507]

🎉🎉🎉🎉thanku so much

[@Islamicchannelofyahya]

Well explained

[@azharmalhi7717]

Dear please make new video for 2022 for same on bank profit entry in tax return. and if profit is from special saving certificate or DSC

[@amberharoon513]

where can i find form for 116(1) (Notice to file Statement of Assets / Labilities)

[@bukshshakir1486]

last year, my assets included one car, which i sold out during the year. now my total assets are decreased. i spent this amount on house renovation. where this renovation must be reported in wealth statement.

[@skartstudio8824]

I think you should put in other expenses

[@ChAsad_92]

Nice sir

[@AwaisulHaqlozeer]

Without login kesy chech kar sakty han

[@muhammadafzal-khan3972]

brother I was salaried person and tax filing from year 2010 but now I am jobless since Dec.2020 to date, which one form or how i will have to submit my tax return for the year 2021

[@skartstudio8824]

You will have to return tax file,

[@skartstudio8824]

Salary me i think zero amount ay gi, or taxes me bhi, but expenses apko likhne hongay, jo apke cash in hand me se kam hongay

[@MuhammadFaraz-h6f]

Where to enter loan received from Employer

[@MuhammadTahir-om6qo]

Very Good.

[@Legalversity]

Thanks for your feedback.

[@shazibzahoor7353]

سر سیلری ڈیڈیکشنز مثلاً جی پی ایف، گروپ انشورنس وغیرہ کس ہیڈ میں جائیں گی؟ اخراجات میں کیسے ایڈجسٹ کریں گے جب کہ یہ مالک کو ملتے ہی نہیں

[@Legalversity]

Inko declare krny ki zaroorat bhi nai hoti itni. Jab jo cheez mil jaye usko declare kren bus. Simple is that.

[@shazibzahoor7353]

Sir tax gross salary py lgta ha, gross salary mn ye sb b including hn.

[@Legalversity]

@@shazibzahoor7353 to declare kr to rhen hen ap gross salary.

[@shazibzahoor7353]

But assets mn ya expenses mn koi option ni, in deductions k related

[@shazibzahoor7353]

For example, mri salary 700000 ha jis se 50000 deductions ho jati hn, Tax 7 lakj pr deduct hota ha. Wealth statement mn 5 lakh expenses ho gye 1.5 assets mn dal dye, where to adjust these 50 thousands?

[@syedhamad8838]

All assests need to mention Or only these asset we make during tax year

[@Legalversity]

Dear brother agar pahli bar kr rhy to sb mentioned kro or agar dusri teesri bar to us saal men jo uper neechy huwy assets bus wo.

[@CarsandMarketing]

. Sir salary person form 181 me "LINK" waly option pr kya declare kry ge?

[@Legalversity]

Apny department ka name.

[@darulfalah08]

salaam Entries tu saari theek ho gai hain. reconciliation main unconcealed amount b zero hay laikin inflows mn kch show ni ho raha. Can u help plz

[@barbiedoll1760]

Sir ya salary pory Year ki hogi ya per month

[@Legalversity]

Dear brother puray saal ki gross salary.

[@knowledgedistributor8796]

Bro mery father mugy 5M den Regular income certificate kay leya to ma profit ko to declare karun ga he sath sath mugy gift ke field may 5M mention karna ho ga? Assets may to 5M may declare karun ga he sath may gift may b karny han?

[@MuhammadIlyas-zt4gs]

سر رہنمائی فرمائیں اگر بینک کے لون ادا کریں یا کسی دوست سے لیا ہوا لون ادا کریں تو اس کو کس ہیڈ میں درج کریں

[@saeedayasmeen6597]

اس کا ریپلائی دیں مجھے بھی یہ سمجھ نہیں آ رہی ۔۔

[@Naseer-Ahmed890]

@@saeedayasmeen6597 personal assets me jaha bank inter krty hn waha debt b likha hoa h ap waha inter kren

[@shaziajaved5483]

Assalamualaikum sir me ney bank amount mention ki uskey Baad reconciliation me increase a raha ha personal khurch ya asset 2 no me adjust kr k daikh Lia 2no me aad kerney sey reconciliation ki amount increase hi hoti h solve nai hoti kindly guide kr dain smajh nai a raha

[@uzmanazar5742]

increase your cash in hand

[@robinakitchenmaster6530]

Thanks sir

[@islamonlysolution8046]

Agar Unreconciled amount 2nd year main negative like -50000 main aye tu koi problem hai?

[@majidali2010]

How to treat 7003004 tab, assets sold during the year

[@skartstudio8824]

Aoa Bhai aik sawaal ha, mene 2020 or 2021 me 200000 ka aik plot show kiya ha, wo plot 2017 me 2lac ka liya tha, ab wo 10 lakh ka hoga, to next 2022 ki return me amount 2 lack hi likne ha?

[@Legalversity]

Dear brother agar wo sirf plot he or us par koi construction nai ki to same value rehy gi jis py buy kia tha. Agar construction hui he to latest value.

[@skartstudio8824]

@@Legalversitythanks for reply, construction hui ha, to takreeban 30 lac kharcha hua, ab wo ager me 30 lack likhta hu, to i think masla hoga k pese kider se ai

[@sharoylalani]

Salam I went on an international flight jis mai i paid 50500/- tax wo mai kahan declare karunga ?

[@junaidbashir70]

Janb good work

[@abs780]

Jazakallah

[@CarsandMarketing]

For example- agr First time return file krty huay 2 ya 3 hzaar tax refund ban jata hy, phr b one thousand atl surcharge pay krna pry ga? Ya refund me adjustment possible hy atl surcharge ki ?

[@Legalversity]

Not Possible with ATL Surcharge.

[@mudsirsaeed382]

Assetss add krta hun unreconciled amount badhti hai magar expernses dalnay pr bhi unreconciled amount badh rhai hai es ka hall btayain kaam houni cahayee

[@Legalversity]

Dear yahi values ko uper neechy kr k apki reconciliation hogi because apky pass solid data to nai hoga jo exact ho. To isi trha sy he reconcile hoga.

[@mudsirsaeed382]

@@Legalversity GPF funds kaisay add krny aur account no konsa

[@Gameplays-Tips-Entertainment]

On reconcile page my expenses are shown in outflows but reconcile amount is increasing instead of being decreased. What can be the reason. Plz guide.

[@CherryBlossomKids]

How to submit data after this?

[@malikabdullahakd1609]

Sir agr assets na pta ho to wo kasy nikaly or annual income na pta ho to wo kasy confirm kr k us k mutabik return file kry kindly wo method samjha dain plz

[@Legalversity]

Dear brother ye apko pata nai hoga to kis ko hoga pata. Khud he analyze kren

[@malikabdullahakd1609]

@@Legalversity sir salery to pta chl jati ha but assets yad nhi rahty k sara saal kya kea to is leay koi asa method ho k hmy pta chl saky k hm un assets ko first time filer hony pr enter kr saky plz

[@malikabdullahakd1609]

@@Legalversity many abi ntn bnaya ha but ab smj nhi Aa rahi k us ki return previous year ki kasy submit kro Assets ki figures nhi pta Ap ki video sy ATL ka chalan to mujy bnana Aa gya ha bs assets maloom kr k us k mutabik file return krny k leay Ap ki help chahiay plz

[@Advamjadnazir]

Bhai company k NTN py koi vedio banai

[@Legalversity]

Dear brother watch this video: studio.kzbin.infokM6e6PK2oEY the procedure for company is same where you enter your details you have to enter company's details.

[@spoffylion]

Sir, meri mother widow hen or me student hun Hamra source of income permanent nai hai, food panda kr amount ati hai ya phir family members support krtay hen... supporting amount + food panda amount ko kahan or kesay manage karhen? please help me

[@uzmanazar5742]

income from business. kch expenses dal k sth description likh den (paid by uncle)

[@syednoorali4747]

wellllllllanndgooooddddd dearr

[@CarsandMarketing]

Sir agr hm se by mistake koi galti ho jati hy return file krty huay to kya FBR direct iski penalty charge kry ga? Ya koi b action lene se pehly hmy koi notice send kry ga?

[@multipleinfo3883]

Weldone

[@zubairmashwani2114]

AOA sir .. unreconciled amount minuses ➖ ma show ho raha tha .. then jab ma nay entires ki amount ki to , unreconciled amount 0 show ho gai.. sir minus Jo show ho rahi thee koi issue to nahi kraygi

[@skartstudio8824]

Submit krne se pehle 0 hona chye

[@GoldenSpur47]

cash (non-business) means cash in hand not in any bank a/c. please reconcile.

[@shm9585]

Assalam o alikum main NRP hoon main nain recently 2023 ki wealth statement apki video daikh ker file ki hai but is main mistake yeh ho gayee hai kay main nain 2021 main bhi file ki thi jis main plot ka rate 500000 likh diya tha but in 2023 2000000 likh diya hai… ab 2022 ki bhi file kerni hai but previous assets main price 500000 he likhi arahi hai… pls iska solution bata dain meharbani ho gi

[@uzmanazar5742]

revise your wealth statement