Commissioner Income Tax, Mohammed Iqbal has said that e-filing of tax returns may be made mandatory for individuals from next year. Addressing a seminar of e-filing organised by Site Association of Industry (SAI) on Thursday, he said that at present e-filing of tax return is mandatory for corporate sector.
He said at present e filing is not mandatory for individuals but if an individual wants to file tax return through e-filing he can do so. About universal self-assessment scheme, he said that this scheme provides unique facilities under which taxpayers declare income, which is acceptable to the department, even if a loss is declared.
He noted that there were many objections previously on this clause in self-assessment scheme. However this scheme proved to be a successful scheme and revenue collection increased manifold.
He said that under previous scheme the taxpayers had to declare 20 percent additional income every year. The commissioner said that when this self-assessment scheme was under preparation some officials apprehended that the scheme might flop. But it proved a successful scheme, he added.
About government intention to increase tax net, Mohammed Iqbal explained that government needs revenue to meet its increasing expenses. Increase in tax net would help government to reduce rate of taxes as more and more taxpayers enter into the tax net as well as reduce burden on present taxpayers.
He informed that the department has established 50 tax facilitation centres in the city to help tax-payers, assisting them in filing tax return etc. These tax facilitation centres will also collect tax return. Later Umair Ahmed performed domestication of e filing of tax return on computer.
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