The new income tax return forms for the 2004-05 tax period are available at all offices of Regional Commissioners of Income Tax (RCIT), Southern Region, in Karachi, Hyderabad and Sukkur. The last date for submission of the tax return is September 30.
However, returns can also be deposited at the authorised branches of the National Bank of Pakistan (NBP) during this month. Sources at the RCIT office in Karachi said on Thursday that there was no change in the form, which had been designed as the simplest document.
The simplified return form required information from the taxpayers only about sales, expenditures and profit. They are not required to divulge details of expenditures incurred by them.
The simplification of the tax return form is in line with the tax reform agenda initiated by the Central Board of Revenue (CBR), which is aimed at voluntary compliance of the tax rules.
The CBR has also designed a software known as 'tax assistant', which automatically calculates the amount of tax once the taxpayer feeds details of income and expenditures in the computer programme.
The sources said software CDs would be made available at the tax facilitation centers for the guidance of the taxpayer regarding the filling tax returns.
The RCIT sources have made it clear that the return forms printed by other than the authorised printer would not be accepted.
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