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Government of Pakistan
Revenue Division
Central Board of Revenue
Islamabad, May 22, 2003
N O T I F I C A T I O N
(Income Tax)
S. R. O. 437(I)/2003.- The following draft amendments in the Income Tax Rules,
2002, proposed to be made in exercise of the powers conferred by sub-section (1)
of section 237 of the Income Tax Ordinance, 2001 (XLIX of 2001), as required by
sub-section (3) of the said section, are hereby published, for the information
of all persons likely to be affected thereby, and notice is hereby given that
the draft will be taken into consideration after fifteen days of its publication
in the official Gazette.
2. Any objection or suggestion, which may be received from any person in respect
of the said draft before the expiry of the aforesaid period, shall be considered
by the Central Board of Revenue.
DRAFT AMENDMENT
In the aforesaid rules, --
(1) In rule 34, for sub-rule (2), the following shall be substituted, namely:-
“(2) A return of income as required to be furnished by a person under section
114 shall be in the form specified in Part-I (for companies) and Part-II (for
individuals and association of persons) of the Second Schedule to these rules.”.
(2) In rule 34, for sub-rule (4), the following shall be substituted, namely:-
“(4) A return of income shall be accompanied by such documents, statements,
certificates and annexes as specified in Part ___ of Second Schedule to these
rules.”.
(3) In clause (a) of sub-rule (2) of rule 35, the figure “IV” shall be
substituted by “III”.
(4) In sub-rule (3) of rule 35, the words “Part-II of the First Schedule” shall
be substituted by “Part-III of the Second Schedule”.
(5) In clause (a) of sub-rule (2) of rule 36, the figure “V” shall be
substituted by “IV”.
(6) In sub-rule (1) of rule 39, the figure “VI” shall be substituted by “V”.
(7) Rule 44, shall be substituted by the following, namely:-
“44. Certificate of deduction from salary. – (1) The certificate of deduction of
tax to be furnished under section 164 by a person paying income chargeable under
the head “salary” shall be in the following form, namely:-
Download Forms of Returns of Income Tax (Excel Format)
(8) The Second Schedule to these rules shall be substituted by the following,
namely:-
B. List of documents
I. in the case of companies:-
(i) Statement u/s 115(4) (if applicable) – Statement of receipts/ incomes
subject to final taxation.
(ii) Copies of
(a) audited financial statements (income statement and balance sheet) in
accordance with the provisions of the Companies Ordinance, 1984 or any other
statute under which incorporated, registered, formed or constituted alongwith
auditors and management reports thereon;
(b) Charts of depreciation/ amortization as admissible under the Income Tax
Ordinance, 2001.
(iii) Detail of prior year refund adjustment claimed, if any.
(iv) Application in prescribed form for income tax credit on foreign source
income.
(v) Details of items of income mentioned in annexes.
(vi) Evidence of payment of
(a) tax deducted/ collected at source;
(b) advance tax paid u/s 147;
(c) tax paid with return u/s 137.
(d) Zakat;
(e) Workers welfare fund; and
(f) Donations/ investments in shares etc (for tax credits).
(vii) in case of a new taxpayer (without an NTN) NTN Registration Form.
II. In the case of individuals/ AOPs including salaried persons having other
income:-
(i) Certificate of deduction of tax from income chargeable under the head
“salary”.
(ii) Statement u/s 115(4) (if applicable) – Statement of receipts/ incomes
subject to final taxation;
(iii) Wealth statement;
(iv) Copies of
(a) Manufacturing/ Trading Account and P&L Account;
(b) Receipts and expenditure statement;
(c) Charts of depreciation/ amortization as admissible under the Income Tax
Ordinance, 2001;
(d) Balance sheet;
(e) Copies of personal account(s) of proprietor/ members;
(v) Evidence of payment of
(a) Tax deducted/ collected at source;
(b) Advance tax paid u/s 147;
(c) Tax paid with return u/s 137.
(d) Zakat;
(e) Expenditure on personal medical services;
(f) Any other exclusions from income, if any; and
(g) Donations/ investments in shares etc (for tax credits).
(vi) Detail of prior year refund adjustment claimed, if any.
(vii) Application in prescribed form for income tax credit on foreign source
income.
(viii) in case of a new taxpayer (without an NTN) NTN Registration Form.
(ix) Any other document.”.
III. In case of individuals filing employer’s certificate in lieu of return of
income:-
(i) Evidence of payment of
(a) tax deducted/ collected at source;
(b) tax paid with return u/s 137;
(c) Zakat;
(d) Expenditure on personal medical services;
(e) Donations/ investments in shares etc (for tax credits);
(ii) Wealth statement (if taxable income exceeds Rs. 200,000/-).
(iii) in case of new taxpayer (without an NTN), NTN registration form.
IV. In case of a taxpayer filing statement u/s 115(4) of the Income Tax
Ordinance, 2001
(a) Prescribed certificate/ tax paid receipts.
(b) In case of new assessee (without an NTN), NTN registration form.”
[C. No. 4(4)IT-Jud/03]
VAKIL AHMAD KHAN
Member (Direct Taxes )/Additional Secretary
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