Form 116 Wealth Statement & Reconciliation Engine
Draft multi-year net assets, personal expenses, inflows, outflows & Form 116 tax return reconciliation for FBR IRIS filing in Pakistan.
Overview
Use the selected tax year, taxpayer category, status, and transaction value to estimate the result, then verify exemptions and special facts before filing or payment.
Prepare and reconcile a wealth statement
Organize assets, liabilities, personal expenses and sources of funds before reviewing the Form 116 reconciliation in the interactive workspace.
| Workspace section | Information to prepare |
|---|---|
| Assets in Pakistan and abroad | Property, bank accounts, investments, vehicles, cash and other assets |
| Liabilities | Outstanding loans and other amounts payable |
| Personal expenses | Household costs, utilities, education, travel and other expenses |
| Inflows and outflows | Declared income, remittances, gifts, inheritance and other movements |
| Reconciliation | Opening and closing wealth with supporting records for the difference |
Use the interactive workspace to enter your own records. Review any reconciliation difference before filing.
Official references: FBR Finance Acts · FBR Withholding Tax Rate Cards.
Quick Answer and Process
Use the Form 116 Wealth Statement & Reconciliation Engine to estimate the result for the selected tax year, transaction details, and taxpayer status. The output is for planning and should be verified before filing or payment.
- Select the correct tax year and taxpayer category.
- Enter the gross amount, taxable value, or requested figures.
- Review the estimated rate, filer impact, and legal reference.
- Verify exemptions and current facts before filing or payment.
Frequently Asked Questions
Is the Form 116 Wealth Statement & Reconciliation Engine result an official FBR demand?
No. It is an informational estimate based on the selected inputs and available rules. An authority assessment or special facts can change the final liability.
Which tax year and filer status should be selected?
Choose the tax year in which the income or transaction belongs and the taxpayer status that applies on the relevant date.
Can the estimate be used directly in a return or challan?
Use it for planning and cross-checking. Verify the taxable base, exemptions, credits, and current law before submitting a return, statement, or payment challan.
Tax Year and Sources
Check the selected tax year and applicable legal provisions before relying on an estimate. Consult the official FBR publications for enacted changes, exemptions and current rates. FBR Finance Acts · FBR Withholding Tax Rate Cards.
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About AM Tax & Corporate Hub
This calculator is an informational planning tool maintained by AM Tax & Corporate Hub and does not replace an FBR assessment or professional review.
Address/service area: Pakistan. Phone and WhatsApp: +92 327 0444011. Email: info@amtaxhub.com.
Confirm the applicable rules, source publication dates and current requirements before relying on this information.