● WEALTH STATEMENT · FBR · PAKISTAN
An unbalanced wealth statement is Pakistan’s #1 FBR notice trigger. FirsTax prepares your complete wealth statement — property, vehicles, bank balances, cash, foreign assets — correctly balanced against your declared income. Fixed starting from PKR 5,000. Done via WhatsApp.
An unbalanced or incomplete wealth statement is the single biggest trigger for FBR Section 176 notices in Pakistan. Don’t file it yourself without understanding the rules.
WHAT IS A WEALTH STATEMENT?
A wealth statement (also called a statement of assets and liabilities) is a mandatory annual declaration filed with FBR as part of your income tax return. It lists everything you own and owe as of 30 June each year. FBR cross-checks it automatically against NADRA property records, motor vehicle data, bank information, and SECP company registrations. Any unexplained increase in wealth triggers a notice.
THE GOLDEN RULE OF WEALTH STATEMENTS
Assets (this year) = Assets (last year) + Declared Income − Declared Expenses
If your assets grew more than your declared income allows — FBR will ask where the money came from. This is called an unexplained wealth discrepancy and is the most common wealth statement problem FirsTax resolves.
WHAT MUST BE DECLARED IN YOUR WEALTH STATEMENT
Property
Vehicles
Financial Assets
Investments
Foreign Assets
Liabilities
THE 7 WEALTH STATEMENT MISTAKES THAT TRIGGER FBR NOTICES
MISTAKE 1
Property inherited from parents or received as a gift must be declared in the year it transferred to your name. FBR has the registry records — they know about it even if you don’t declare it.
MISTAKE 2
If you paid for a car registered in your spouse’s or parent’s name, it should be in your wealth statement under the beneficial ownership rule. EXCISE records are cross-checked by FBR.
MISTAKE 3
Many filers declare PKR 5,000–10,000 cash in hand when they actually hold lakhs in cash. If bank deposits later don’t match, FBR questions the unexplained source of funds.
MISTAKE 4
FBR’s system automatically compares this year’s wealth with last year. If your net assets grew by more than your declared income allows, the system flags it. Every rupee of asset growth must be explained.
MISTAKE 5
Property must be declared at the higher of purchase price or FBR DC value at the time of purchase. Using the wrong value creates inconsistencies FBR picks up when it cross-checks deed values.
MISTAKE 6
Overseas Pakistanis and dual-nationals must declare foreign property, bank accounts, and investments. Pakistan’s Common Reporting Standard (CRS) commitments mean FBR increasingly has access to foreign financial data.
MISTAKE 7
The wealth statement is filed as part of your annual income tax return — not separately. Many people don’t realise the return is incomplete without a balanced wealth statement attached.
HOW FIRSTAX PREPARES YOUR WEALTH STATEMENT
We walk you through a structured WhatsApp checklist covering every asset category — property, vehicles, bank accounts, cash, investments, business capital, and foreign assets. We know the right questions to ask so nothing is missed.
We balance your wealth statement against your declared income — ensuring the growth in your net assets is fully explained. If there is an unexplained gap, we identify it and advise on the correct treatment before filing.
We apply FBR’s DC valuation tables for all property and confirm vehicle values — ensuring no discrepancy between your declaration and FBR’s own records triggers a notice.
The complete wealth statement is filed as part of your annual income tax return on FBR IRIS. You receive the filing acknowledgement on WhatsApp. A copy of the filed wealth statement is kept on record for next year’s reconciliation.
TRANSPARENT PRICING
| Service | Includes | Fee (PKR) |
|---|---|---|
| Salaried Return + Wealth Statement | Annual return + complete wealth statement + ATL | On request |
| Business / Property Return + Wealth Statement | Annual return with complex assets + complete wealth statement | On request |
| Wealth Statement Correction (Amended Return) | Correct a previously filed incorrect wealth statement | Starting from 5,000 |
| FBR Notice (Unexplained Wealth) | Section 176 notice review + corrected wealth statement + reply | Starting from 7,000 |
| Overseas Pakistani Wealth Statement | Foreign assets, remittances, Pakistan property — complete remote filing | Starting from 5,000 |
CLIENT STORIES
“I received a Section 176 notice from FBR saying my wealth statement was unbalanced. I had filed it myself and forgotten to declare my car. Ahmad filed an amended return and replied to the notice. Everything was resolved.”
Faisal Qureshi
SALARIED EMPLOYEE — ISLAMABAD
“I inherited two plots from my father in 2021 and didn’t know they needed to be in my wealth statement. Hassan explained everything patiently, included both properties correctly, reconciled the inheritance as a gift receipt, and filed the return. No notice received. Excellent.”
Nadia Khan
INHERITED PROPERTY — RAWALPINDI
“FirsTax has filed my wealth statement every year since 2018. They keep a record of last year’s statement and reconcile it automatically — I just tell them what changed and they handle the rest. Never had an FBR notice in 7 years. Exceptional service.”
Asad Mehmood
LONG-TERM CLIENT SINCE 2018 — LAHORE
WEALTH STATEMENT FAQs
CORRECTLY BALANCED. FULLY DECLARED. ZERO NOTICES.
A complete wealth statement covering property, vehicles, bank balances, and investments, starting from PKR 5,000. FirsTax has been filing correctly since 2015, so you can stop worrying.
Every FBR filer must file an annual Wealth Statement (Statement of Assets and Liabilities). Incorrect wealth statements are the most common cause of FBR notices. FirsTax ensures accurate, reconciled wealth statements every year.