I am Abdul Qadir Arif, a Certified Business Accountant (CBA) accredited by The Institute of Chartered Accountants of Pakistan (ICAP). With over 10 years of professional expertise, I specialize in taxation, regulatory compliance, financial advisory, bookkeeping, business and financial reporting, and both internal and external audits. I have a strong command over IFRS and ISA, enabling me to prepare accurate financial statements, ensure regulatory compliance, and conduct audits according to international standards. Through hands-on experience in analyzing financial data, managing accounts, and supporting strategic decision-making, I am committed to delivering precise, reliable, and value-driven financial and accounting services for businesses, professionals, and organizations.
Posts by Abdul Qadir Arif:
Core Principles of Accounting provide a structured framework for recording and reporting financial information. They ensure accuracy, consistency, and reliability in financial statements. By following these principles, businesses can present a true financial position, maintain transparency, and support informed decision-making.
The five key elements of accounting such as assets, liabilities, equity, revenue, and expenses form the foundation of every accounting system. Together, they explain a business’s financial position, ownership structure, income generation, and cost management, helping stakeholders make accurate and informed financial decisions.
Assurance and Non-Assurance services are essential professional services with different objectives and scopes. Assurance services provide independent verification and opinions to enhance the reliability of financial information for external stakeholders. In contrast, Non-Assurance services focus on advisory, accounting, and support functions to assist management
The fundamentals of accounting provide a structured system to record, analyse, and report financial transactions. They help businesses measure profit or loss, understand their financial position, support decision-making, and ensure transparency, accuracy, and legal compliance for long-term financial success.
Comprehensive summary of latest withholding tax 2026 under Section 149 covering salary, pension, directorship fees, and surcharge to ensure accurate and compliant tax deductions.
Section 151 covers withholding tax on profit on debt from savings schemes, bank deposits, securities and bonds, with higher rates for non-filers. Gains on certain debt securities are also taxed under Section 151(1A).
Section 155 of the Income Tax Ordinance, 2001 mandates prescribed persons to deduct tax at source on rent of immovable property, including furniture and related services. Companies face flat rates, while individuals and AOPs follow a slab system. Rates double for non-filers, ensuring effective tax collection, promoting compliance, and transparent reporting of rental income.
Section 156 mandates tax deduction at source on prizes and winnings, including prize bonds, lotteries, quizzes, promotions, and crossword puzzles, with non-cash prizes taxed on fair market value. Section 156A applies withholding on commissions or discounts for petroleum sales. Rates double for non-filers, ensuring final tax, compliance, and transparent reporting.
Sections 231AB and 231B of the Income Tax Ordinance, 2001 require advance tax deduction on cash withdrawals exceeding Rs. 50,000 for non-filers, and on purchase, registration, leasing, sale, and transfer of motor vehicles. These provisions promote documentation, differentiate between filers and non-filers, and encourage voluntary tax compliance.
