Enforcement and collection division of the Regional Tax Office (RTO) Lahore arranged a conference for withholding agents here on Monday to familiarise them with their responsibilities and obligations regarding filing of withholding statements and deductions of tax.
Commissioner of Income Tax (CIT), Enforcement and Collection Division-III, Lahore speaking on this occasion introduced withholding taxes and dilated upon the taxpayers that why withholding taxes were imposed and what are their importance. Since the creation of this division, this was the first interaction with the withholding agents, in which they were informed their responsibility of deduction of taxes and the timeframe during which the said tax has to be deposited in government treasury. Similarly the revised formats of withholding statements both monthly and annual was introduced. During this conference, educative and informative material was also distributed.
Another comprehensive presentation regarding e-filing of returns was also made during this conference. Demonstration on e-filing was taken with interest by the participants of this conference. Withholding agents were asked by the commissioner income tax that they should not give exemption to anybody without getting the exemption certificate verified from the department.