RCITs meeting on April 19

A meeting of all Regional Commissioners of Income Tax (RCITs) is to be held in the federal capital on April 19 2004, to discuss audit and other tax related issues.
According to the sources, the meeting, which will be chaired by Chairman Central Board of Revenue Abdullah Yousuf, is likely to take a final decision on parameters of audit of income tax returns for year 2003.
To a question that CBR has recently directed all RCITs to pick 20 percent income tax returns from corporate and five percent from non-corporate sector for audit, the sources said, the yardsticks in this regard will be decided in the RCITs meeting.