It is mandatory to disclose assets while filing returns

The last date for filing income tax returns for the previous year has been extended to 30th April 2019. Whenever an income tax return is filed, wealth tax statement is filed along with it. It is mandatory to file wealth tax statement before filing of income tax return.

Most people fear of disclosing their personal assets or incomes in their returns. This fear is dangerous for themselves. The reason is that the Government already has the record of transactions and assets of most people in its record.

The system is centralized at the Government's end these days. From one system FBR employees can access CNIC details, FBR details, Bank Account details, foreign transaction details, NAB cases, FIA cases, SECP details and similar other details of any individual irrespective whether such person is a filer or not.

So it is best to be fair with the Government and to disclose the assets and transactions fairly to avoid any problems in future. For professional advise or for filing your returns you can contact lawyergolra@gmail.com

Regards,
Salman Yousaf Khan (Golra)
Corporate Lawyer
+92-333-5339880

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