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Leading tax bars and chartered accountants have asked the Federal Board of Revenue (FBR) to clarify whether income tax return/statement notified vide SRO 793(1)/ 2011 is still draft or final return, as the same has not been uploaded on the FBR Web Portal.
It is learnt that the Pakistan Tax Bar Association (PTBA) has requested FBR Chairman Salman Siddique to resolve issues pertaining to income tax return for the tax year 2011. In this connection, the FBR received a letter of the PTBA at the FBR House on Saturday on the total confusion about the final income tax return which not been uploaded on the FBR Web Portal.
According to the association, vide sub-section (3) of section 118 of the Income tax Ordinance. 2001 the last dates for submission of returns, statement and other related documents have been prescribed. For Annual Statement of deduction of income tax on salaries paid by the employers, Income Tax Return through e-portal by the salaried individuals and Statement u/s 115(4) of the Income Tax Ordinance, 2001 the prescribed date is August 31, 2011. For normal tax regime cases the prescribed date is September 30, 2011.
The prescribed dates for submission of returns and statements have been extended by the FBR vide circular No 10 of 2011 dated August 26, 2011 and now the statements and salary income returns can be submitted till September 30, 2011 and for normal tax regime returns the date has been extended till October 31, 2011.
Although, on the demand of Pakistan Tax Bar Associations, local Tax Bar Associations of the country, taxpayers, and other trade bodies the first draft of income tax return and statement u/s 115(4) of the Income Tax Ordinance 2001 was published by the FBR as far back as of April, 2011 and then second draft of Income Tax Returns/Statements for Tax Year-201l was notified vide SRO.(I) of 2011 dated 08.08.2011 for submission of comments. Thereafter vide SRO 793(1)/2011 dated 25.08.2011 another draft has been notified.
It would be important to point out here that to-date no final return, statement u/s 115(4) and wealth statement for tax year-2011 have been displayed on the web-portal of FBR.
There is a confusion that whether the return/statement notified vide SRO 793(1)/ 2011 dated 25-08-2011 is still a draft and further submissions can be made by the taxpayers or tax consultants in this regard or it is the final return?. If it is a final return, then why the same has not been provided on the web-portal of FBR till September 9, 20l 1. The wealth and reconciliation statement form is also not notified for tax year-2011 so far, association said. It is, therefore, requested that the FBR should take serious note of the circumstances. The final return/statement be notified/provided on web-portal of FBR at the earliest to enable the taxpayer to submit their returns/statements within extended date.

Copyright Business Recorder, 2011

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