Lahore – Four mobile applications for taxation & corporate law were launched by ‘S.M. Rehan & Co, Chartered Accountants’ for the first time in the history of Pakistan. No internet connection is required once the application has been downloaded and comes with one year free updates.
“I have gone through the mobile applications introduced by S. M. Rehan & Co and I am pleased to admit that the idea is excellent & the need of time”. These thoughts were expressed by Dr. Muhammad Tariq Masood, Chief Commissioner RTO II, Federal Board of Revenue (FBR), Karachi. He further said that these applications will lead others to new dimensions of time and will help combine the taxation & mobile applications. “I expect that these will ease the problems of the masses as well as professionals on one hand and on the other the applications will meet the general expectations”, he added.
While explaining the concept behind the mobile applications, Mr. S. M. Rehan, the CEO of S. M. Rehan & Co said that being practicing Chartered Accountants we were well aware of problems faced by the general public. A common man cannot work out the income tax liability due to the complex workings of rebates, fixed tax, final tax, normal tax and the calculations of withholding tax. The issue of filer & non-filer has also made this quite complicated. “Thus a simple and easy solution was the need of time and all these issues have been solved through these applications in a user-friendly manner. The mobile application Tax Calculator is the idea introduced for the first time in Pakistan keeping in mind the general public to bypass complex tax workings and engaging consultants for typical tax calculations which will facilitate business decision making”, he added.
The SMRCO TAX CALCULATOR calculates Income tax of individuals and AOPs for tax year 2017. It also calculates all rebates, all income tax withholdings and provides status of “Filer” and “Non Filer”. Through SMRCO INCOME TAX people can review Income Tax Ordinance, 2001 amended up to 30-06-2012, 30-06-2013, 30-06-2014, 30-06-2015 & 15-12-2016 separately; Income Tax Rules, 2002 amended up to 31-12-2015, 18-10-2016 & 10-02-2017 separately; All double taxation treaties; Income Tax Circulars from 1979; Income Tax SROs/Notifications from 1991 and Jurisdiction Orders.
SMRCO SALES TAX focuses on Federal Sales Tax Act 1990, Federal Excise Act 1990, The Sindh Sales Tax on Services Act 2011, The Punjab Sales Tax on Services Act 2012, The Khyber Pakhtunkhwa Finance Act 2013, The Baluchistan Sales Tax on Services Act 2015 and Islamabad Capital Territory (Tax on Services) Ordinance 2001. Through this application people can review Acts, Rules, Notifications, Circulars, General Orders, All Schedules and Withholding Rules. NBP Authorized Branches List for Tax Collection and facility of searching of a particular word is also available here. By using SMRCO SECP, people can review on their mobile all Acts & Ordinances as available on SECP’s website; all Rules, Regulations, Directives & Guidelines; SECP Notifications from 1986; SECP Circulars from 1999; State Bank of Pakistan Foreign Exchange Manual; Calculation of registration fees, filing fee and addition in authorized share capital.
These are available on Google Play Store using the link
These will shortly be available on Apple Store. Once downloaded, these can again be downloaded on the same email id free of cost.
About S. M. REHAN & CO:
- M. REHAN & CO is a professional firm of Chartered Accountants. The firm was established by Mr. S. M. Rehan in 1991. Mr. S. M. Rehan is a Fellow Member of the Institute of Chartered Accountants of Pakistan (ICAP) and Institute of Cost and Management Accountants of Pakistan. After graduation, Mr. Rehan, completed the professional practical training from M/s. A. F. Ferguson & Co., Chartered Accountants and became a member of ICAP and ICMA in 1986. Mr. Rehan had also been a member of Quality Control Committee and Quality Control Board of Institute of Chartered Accountants of Pakistan for seven years, Vice President in Standing Committee of FPCCI (Federation of Pakistan Chamber of Commerce and Industry) on Direct Taxes for two years and member of Alternate Dispute Resolution Committees formed by Federal Board of Revenue. The firm provides professional services in the field of Auditing, Accounting, Taxation, SECP matters, Board of Revenue, Board of Investment, Registrar Societies, review and suggestions on internal control systems, review and suggestions on Information Technology systems, Employees related funds and Consultancy Assignments and Feasibility Studies on Industrial Projects, Utility Services, Market Research, etc. The firm from the outset has established its internal standard of services and code of practices and strictly adheres to it. Equal importance is paid to professional pronouncements like International Accounting and Auditing Standards. The firm has made a tremendous progress and has developed a large clientele came from almost all sections of the economy. The primary reason behind the growth is strong professional commitments, hard work, and personal satisfaction. The principle segments of services provided by the firm are briefly outlined in the subsequent paragraphs AUDITING SERVICES, ACCOUNTING SERVICES, INCOME TAX ADVISORY SERVICES, SALES TAX AND FEDERAL EXCISE, SECP AND ALLIED MATTERS, SYSTEMS REVIEW, INFORMATION TECHNOLOGY SYSTEM REVIEW, SOFTWARE & MOBILE APPLICATONS DEVELOPMENT, EMPLOYEE RELATED FUNDS and CONSULTANCY SERVICES.