Income tax returns: external auditors barred from raising objections

The external auditors of the Revenue Receipt Audit will not have the authority to raise objections pertaining to income tax returns filed under Universal Self Assessment Scheme (USAS). Sources told Business Recorder here on Tuesday that income tax officials could not make 'assessment orders' on the basis of returns accepted under USAS. Thus, there should be no audit objections by external auditors as well as Revenue Receipt Audit.
The CBR has agreed to develop a computerised system to address the concerns expressed by the Auditor General of Pakistan regarding audit objections raised in past cases.
In this regard, the CBR has directed Member Audit and Member Information Management System to co-ordinate for the implementation of such computerised system.
The CBR is also devising another computer-based system to examine the tax calculations made in the income tax returns.