Muhasib & co.

09/05/2026

🇵🇰 10th May — A Symbol of Unity, Courage & Resolve

This day reminds us that Pakistan stands strong and united like Bunyan-un-Marsoos against every challenge.

We pay tribute to our brave Shaheens and all those who safeguard our homeland with courage, dedication, and honor. Pakistan believes in peace, but remains fully committed to defending its sovereignty, territorial integrity, and national dignity.

A proud chapter in our nation’s history.A reminder that unity is our greatest strength.

Pakistan Zindabad 🇵🇰

07/05/2026

Section 7E of the Income Tax Ordinance, 2001 has officially been struck down by the Supreme Court of Pakistan in a landmark judgment dated May 7, 2026.

This historic ruling declares Section 7E unconstitutional and void ab initio, meaning it is treated as if it never legally existed.

Key Highlights:
✔ Section 7E declared ultra vires the Constitution
✔ All notices and proceedings under Section 7E set aside
✔ Collection of deemed rental income tax halted nationwide
✔ Major relief for taxpayers and property owners

This judgment reinforces constitutional limits on taxation powers and provides long-awaited clarity for taxpayers across Pakistan.

For professional tax guidance and updates, connect with Muhasib and Co

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📧 [email protected]

📞 03224065062

30/04/2026

Happy International Workers' Day from Muhasib and Co

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📩 [email protected]

30/04/2026

On this International Workers' Day, we recognize the hard work and dedication that keeps businesses moving forward.

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We simplify accounting, you focus on growth.

22/04/2026

Managing accounts and taxes doesn’t have to be stressful. Muhasib and Co provides reliable accounting, bookkeeping, tax planning, filing, PSEB registration, and company formation services—so you can focus on growing your business.

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🌐 muhasibandco.com

02/04/2026

𝗙𝗕𝗥 𝗣𝗿𝗼𝗽𝗼𝘀𝗲𝘀 𝗡𝗲𝘄 𝗧𝗮𝘅 𝗥𝗲𝗴𝗶𝗺𝗲 𝗳𝗼𝗿 𝗦𝗼𝗰𝗶𝗮𝗹 𝗠𝗲𝗱𝗶𝗮 𝗜𝗻𝗰𝗼𝗺𝗲
The Federal Board of Revenue has introduced draft rules to tax income earned by resident individuals from social media platforms like YouTube and other monetized channels.

𝗞𝗲𝘆 𝗙𝗲𝗮𝘁𝘂𝗿𝗲𝘀 𝗼𝗳 𝘁𝗵𝗲 𝗣𝗿𝗼𝗽𝗼𝘀𝗮𝗹:

>> Applies to earnings from:
- YouTube
- Monetized social media platforms
- Digital content creation

>> Standard Deduction Allowed
- Expenses allowed: Up to 30% of total revenue
- Remaining income treated as taxable

>>Minimum Income Benchmark (RPM Model)
Income will be calculated as the higher of:
- Actual income received, OR
- Estimated income based on Average views and Number of posts

In simple terms: Under-reporting won’t work anymore:

- Quarterly Advance Tax (Section 147) will be mandatory.
- Separate Disclosure Required
- Social media income must be declared separately in tax returns

𝗙𝗕𝗥’𝘀 𝗣𝗼𝘄𝗲𝗿 𝘁𝗼 𝗥𝗲𝗰𝗮𝗹𝗰𝘂𝗹𝗮𝘁𝗲 𝗜𝗻𝗰𝗼𝗺𝗲:

If declared income is lower than formula-based income, the FBR may revise and recover additional tax

⚖️ 𝗪𝗵𝘆 𝗧𝗵𝗶𝘀 𝗠𝗮𝘁𝘁𝗲𝗿𝘀

This signals:
- A shift toward algorithm-based taxation
- Increased scrutiny on digital earners
- Reduced flexibility in income declaration

But raises questions:
- Is a fixed RPM realistic across niches?
- What about fluctuating ad rates and geography-based earnings?

💼 If you earn through social media:
- Maintain proper income records
- Track views & engagement data
- Plan for quarterly tax payments

Don’t rely on rough estimates anymore

https://www.fbr.gov.pk/Downloads/?id=17652&Type=SROs

https://muhasibandco.com/new-social-media-tax-pakistan-2026/

31/03/2026

𝗔 𝘀𝗺𝗮𝗹𝗹 𝘂𝗽𝗱𝗮𝘁𝗲... 𝗯𝘂𝘁 𝗮 𝗯𝗶𝗴 𝗶𝗺𝗽𝗮𝗰𝘁 𝗼𝗻 𝘆𝗼𝘂𝗿 𝗶𝗻𝘃𝗼𝗶𝗰𝗶𝗻𝗴

The Federal Board of Revenue has issued a new order on e-invoicing (Sales Tax General Order #01 of 2026/IR Operations) — and this is not something businesses should ignore.

Here’s the simple breakdown 👇

𝗜𝗻𝘃𝗼𝗶𝗰𝗲𝘀 𝗺𝘂𝘀𝘁 𝗻𝗼𝘄 𝗯𝗲 𝗱𝗶𝗴𝗶𝘁𝗮𝗹
Your invoicing system must be connected with FBR — manual-only invoicing is no longer enough.

𝗚𝗼𝗼𝗱 𝗻𝗲𝘄𝘀
If you’re using multiple systems or branches, you can now work with more than one approved integrator.

𝗛𝗲𝗿𝗲’𝘀 𝘁𝗵𝗲 𝗰𝗮𝘁𝗰𝗵...
You only have 72 hours to correct any mistake after issuing an invoice.

𝗔𝗳𝘁𝗲𝗿 𝘁𝗵𝗮𝘁?
You’ll need approval from the Commissioner Inland Revenue — which means delays and extra hassle.

𝗪𝗵𝘆 𝘁𝗵𝗶𝘀 𝗺𝗮𝘁𝘁𝗲𝗿𝘀
Small mistakes in invoices are often ignored…
But now, even a minor error can turn into a compliance issue.

𝗪𝗵𝗮𝘁 𝘆𝗼𝘂 𝘀𝗵𝗼𝘂𝗹𝗱 𝗱𝗼

• Check invoices the same day
• Fix mistakes immediately
• Ensure your system is properly integrated

25/03/2026

𝐒𝐦𝐚𝐥𝐥 𝐀𝐜𝐜𝐨𝐮𝐧𝐭𝐢𝐧𝐠 𝐌𝐢𝐬𝐭𝐚𝐤𝐞 𝐓𝐡𝐚𝐭 𝐂𝐨𝐬𝐭 𝐚 𝐁𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐁𝐢𝐠
It didn’t look like a big deal at first.
Just a tiny entry… easy to ignore.
A client came to me with a mismatch in their records.
Sales looked strong, profits looked healthy—but cash wasn’t there.
After digging deeper, I found the issue:
a duplicate revenue entry posted months ago.
No one noticed. Reports were built on top of it. Decisions were made based on it.

𝐓𝐡𝐞 𝐭𝐮𝐫𝐧𝐢𝐧𝐠 𝐩𝐨𝐢𝐧𝐭?
That single mistake inflated profits, led to overconfidence… and eventually caused a serious cash flow crisis.

𝐋𝐞𝐬𝐬𝐨𝐧:
In accounting, there are no “small” mistakes.
One wrong entry can quietly distort your entire financial reality.
Attention to detail isn’t just a skill—it’s a safeguard.
If your numbers don’t feel right, don’t ignore it.
Sometimes the smallest errors carry the highest costs.

21/03/2026

Eid Mubarak

21/03/2026

Eid Mubarak..

08/03/2026

Many 𝗲-𝗰𝗼𝗺𝗺𝗲𝗿𝗰𝗲 𝗯𝘂𝘀𝗶𝗻𝗲𝘀𝘀𝗲𝘀 𝘀𝘁𝗿𝘂𝗴𝗴𝗹𝗲 𝘄𝗶𝘁𝗵 𝗯𝗮𝗻𝗸 𝗿𝗲𝗰𝗼𝗻𝗰𝗶𝗹𝗶𝗮𝘁𝗶𝗼𝗻.

Sales reports show one number, but the bank statement shows another. Why?

Because of payment gateway fees, courier deductions, refunds, and tax adjustments.

In this article, I share a real accounting case study explaining the problem and the simple solution that fixed it.

Read the full article:
https://tinyurl.com/4e9ujvke

Running an online store? Learn the biggest bank reconciliation problems in e-commerce and how to fix payment gateway, COD, and refund mismatches.