AGL 40.00 No Change ▼ 0.00 (0%)
AIRLINK 127.04 No Change ▼ 0.00 (0%)
BOP 6.67 No Change ▼ 0.00 (0%)
CNERGY 4.51 No Change ▼ 0.00 (0%)
DCL 8.55 No Change ▼ 0.00 (0%)
DFML 41.44 No Change ▼ 0.00 (0%)
DGKC 86.85 No Change ▼ 0.00 (0%)
FCCL 32.28 No Change ▼ 0.00 (0%)
FFBL 64.80 No Change ▼ 0.00 (0%)
FFL 10.25 No Change ▼ 0.00 (0%)
HUBC 109.57 No Change ▼ 0.00 (0%)
HUMNL 14.68 No Change ▼ 0.00 (0%)
KEL 5.05 No Change ▼ 0.00 (0%)
KOSM 7.46 No Change ▼ 0.00 (0%)
MLCF 41.38 No Change ▼ 0.00 (0%)
NBP 60.41 No Change ▼ 0.00 (0%)
OGDC 190.10 No Change ▼ 0.00 (0%)
PAEL 27.83 No Change ▼ 0.00 (0%)
PIBTL 7.83 No Change ▼ 0.00 (0%)
PPL 150.06 No Change ▼ 0.00 (0%)
PRL 26.88 No Change ▼ 0.00 (0%)
PTC 16.07 No Change ▼ 0.00 (0%)
SEARL 86.00 No Change ▼ 0.00 (0%)
TELE 7.71 No Change ▼ 0.00 (0%)
TOMCL 35.41 No Change ▼ 0.00 (0%)
TPLP 8.12 No Change ▼ 0.00 (0%)
TREET 16.41 No Change ▼ 0.00 (0%)
TRG 53.29 No Change ▼ 0.00 (0%)
UNITY 26.16 No Change ▼ 0.00 (0%)
WTL 1.26 No Change ▼ 0.00 (0%)
BR100 10,010 Increased By 126.5 (1.28%)
BR30 31,023 Increased By 422.5 (1.38%)
KSE100 94,192 Increased By 836.5 (0.9%)
KSE30 29,201 Increased By 270.2 (0.93%)

The Central Board of Revenue (CBR) has decided to accept income tax returns for ''tax year 2005'' without imposition of penalty up to October 31, 2005.
The CBR has also allowed the withholding tax agents to deposit the statements for the quarter ended on September 30, 2005 up to October 31, 2005.
The CBR on Saturday issued instructions to all Regional Commissioners of Income Tax (RCITs), Directors-General, Large Taxpayer Unit (LTU), Karachi/Lahore to implement these decisions.
The directive said that the CBR had observed that a large number of taxpayers were preoccupied because of their active engagement in relief work to alleviate problems arising in consequence of earthquake disaster.
Therefore, no penal action may be taken against the taxpayers, who have not yet been able to file returns of income, if the same are filed by October 31, 2005.
In another directive, the CBR has informed the regional offices that the ''Quarterly Statements'' as prescribed under SRO 641 of June 27, 2005, for the period ending on September 30, 2005 was due on October 15, 2005.
It had been represented to the Board that people were mostly engaged in relief work after the earthquake disaster and most of them may not have been able to file their statements to-date. The CBR examined the issue in view of the hardship face by the nation.
To facilitate the withholding tax agents, it has been decided that statements for the quarter ended on September 30, 2005 may be accepted up to October 31, 2005 without drawing any adverse inference.

Copyright Business Recorder, 2005

Comments

Comments are closed.