Income Tax Which Form to Select for Second Year

[pwuser150469741418]

Assalam O Alaikum

Alhamdulillah, I became a filer a few months back in which I filed tax returns for 2017-18 now I want to do the same for 2018-19 but I am unable to find any tutorial about which forms to select. I believe it will be from Declaration tab since registration will not be required.

Last year I selected: 114(1) (Return of Income filed voluntarily for complete year) and
116(2) (Statement of Assets / Liabilities filed voluntarily)

If someone can please help I will be greatly thankful.

[capsat]

login to iris

select declaration and select the same forms 114 (1) & 116(2) - in the form select the YEAR and you can start ... to make entries.

[pwuser150469741418]

Thank you @capsat
Brother in the declaration I get 114(1) which is as you said the form but 116 (2) says Wealth Statement which is different from the previous title "(Statement of Assets / Liabilities filed voluntarily)" sorry but are you sure it is the one? Just making sure I don't make a mistake.

[capsat]

114 (1) is for declaration of income
116 (2) is wealth statement (assets & liabilities)

you can open & read the entries close without saving, you can have an idea about it.

[pwuser150469741418]

JazakALLAH brother.

[nfssaad]

116 (2) is merged with 114 (1)

[mohsan87]

Can anyone tell me what is difference between 116-1 ( filed voluntary for complete year ) and 116-1 ( where salary income is more than 50% of total income.....)

???

[pwuser150469741418]

@nfssaad

Exactly! Just noticed while submitting the 114 (1) yesterday.

[pwuser150469741418]

Btw since my income comes from foreign it is basically tax free. But my father registered me as a State Life Agent as well. While I don't actually gain anything from the money that comes. There is a joint account where the cheques comes. The amount is small around 100K PKR a year. Where do I mention it? First I thought not to mention it as it doesn't make the slab of minimum 50K salary a month but when combined with my own earning it do. Or shall I not mention it at all? What if they checked the statement of that bank account I will get into trouble right?

Any help would be greatly appreciated.

@nfssaad @capsat

[capsat]

does the amount from state life appear in bank account every month ? or is it landing once a year.
do not hide any amount landing in bank via pay order or cross cheque.

download the forms from fbr website and in form 114 (1) locate section for commissions received

[pwuser150469741418]

Multiple cheques and sometimes cash installments of their premium but mostly around 8000-15000 but not every month.

Yes, spot on! It's more like commission rather than salary. JazakAllah brother.

[alhadidd66]

Congrats on becoming a filer! It's a great achievement. As for which form to select for 2018-19, it depends on your particular situation, but it's likely that you should be filing from the 'Declaration' tab. As for last year, 114(1) and 116(2) are both good forms to start with, but make sure you double-check with your accountant to make sure you're on the right track. Additionally, always remember to save your paystubs as the best way to keep track of your income and make sure you're filing the correct forms. It can be confusing but don't worry. You'll find plenty of helpful tutorials online if you do a little digging.