AVN 65.45 Increased By ▲ 0.50 (0.77%)
BAFL 30.65 Decreased By ▼ -0.86 (-2.73%)
BOP 4.83 Increased By ▲ 0.04 (0.84%)
CNERGY 3.72 Decreased By ▼ -0.12 (-3.13%)
DFML 14.26 Decreased By ▼ -0.15 (-1.04%)
DGKC 41.06 Decreased By ▼ -0.54 (-1.3%)
EPCL 46.56 Decreased By ▼ -0.14 (-0.3%)
FCCL 11.35 Increased By ▲ 0.06 (0.53%)
FFL 5.03 Decreased By ▼ -0.02 (-0.4%)
FLYNG 5.78 Decreased By ▼ -0.04 (-0.69%)
GGL 10.28 Decreased By ▼ -0.17 (-1.63%)
HUBC 67.03 Increased By ▲ 1.39 (2.12%)
HUMNL 5.68 Increased By ▲ 0.02 (0.35%)
KAPCO 27.85 Increased By ▲ 0.10 (0.36%)
KEL 2.19 Increased By ▲ 0.04 (1.86%)
LOTCHEM 24.83 Increased By ▲ 0.48 (1.97%)
MLCF 21.37 Decreased By ▼ -0.11 (-0.51%)
NETSOL 84.20 Decreased By ▼ -0.59 (-0.7%)
OGDC 85.94 Decreased By ▼ -1.31 (-1.5%)
PAEL 11.01 Increased By ▲ 0.03 (0.27%)
PIBTL 4.17 Decreased By ▼ -0.05 (-1.18%)
PPL 74.56 Decreased By ▼ -1.14 (-1.51%)
PRL 13.40 Decreased By ▼ -0.25 (-1.83%)
SILK 0.92 Increased By ▲ 0.03 (3.37%)
SNGP 40.44 Decreased By ▼ -0.89 (-2.15%)
TELE 5.86 Increased By ▲ 0.01 (0.17%)
TPLP 15.42 Decreased By ▼ -0.22 (-1.41%)
TRG 111.63 Decreased By ▼ -0.07 (-0.06%)
UNITY 13.76 Decreased By ▼ -0.22 (-1.57%)
WTL 1.14 Decreased By ▼ -0.02 (-1.72%)
BR100 4,037 Decreased By -26.9 (-0.66%)
BR30 14,412 Decreased By -56.6 (-0.39%)
KSE100 40,471 Decreased By -262.4 (-0.64%)
KSE30 15,163 Decreased By -67.2 (-0.44%)
Follow us

ISLAMABAD: One of the key features of the Federal Board of Revenue’s new e-audit system is that the taxpayer or his authorised representative would not be required to personally appear before Inland Revenue officers during the whole audit proceedings.

The FBR has issued procedure for e-audit through a notification to issue draft of certain further amendments in the Income Tax Rules, 2002.

Under the new facility, the “e-audit” means the audit proceedings of registered person conducted through electronic means including video links, or any other facility as may be specified by the Board from time to time.

The major role would be played by the “Automated Case Selection System” which is an algorithm for randomized allocation of cases by using suitable technological modes.

Under the procedure, where a case has been selected under Section 177 or Section 2I4C of the Income Tax Ordinance, the competent authority may issue direction to conduct e-audit.

The cases selected for e-audit shall be processed through Automated Case Selection System, which will create an assignment for issuing notices through the IRIS to the taxpayer against selection of cases for audit.

For issuance of notices, the Automated Case Selection System will configure the list of officers of Inland Revenue to whom the case can be assigned; and list of the cases to be marked across the jurisdiction; and thereafter, intimate to the concerned Commissioner IR.

Where the case has been assigned by the Automated Case Selection System, the concerned Commissioner Inland Revenue, where the case has been assigned by the Automated Case Selection System, shall serve a notice, specifying the reasons for selection of his case for audit.

The taxpayer shall produce the record or documents including books of accounts maintained under Income Tax Ordinance, 2001 through the IRIS or electronic data carrier notified by the Board.

The taxpayer shall not be required to appear either personally or through authorised representative in connection with any proceedings under e-audit before the officer of Inland Revenue.

In case of any explanation required by the taxpayer or officer of Inland Revenue, requests for personal hearing, shall be made through the IRIS and may be allowed to do so in assigned jurisdiction and such hearings shall be conducted exclusively through video links from personal computer system or any of the nearest Tax Facilitation Centre situated at the premises of the different tax offices, as the case may be.

The audit officer, if finds no discrepancy and have no conclusive proof against taxpayer, may close the audit and send it to the Automated Case Selection System.

However, if the audit officer to whom the case is assigned, does not agree with the declared version and proposes order for assessment of tax, shall prepare an audit report, containing audit observations/findings and forward the report to taxpayer through IRIS and Automated Case Selection System simultaneously.

The Automated Case Selection System will once again configure and assign the case to any Adjudication Officer across the jurisdiction to make an order for assessment of tax under Section 122, including imposition of penalty and default surcharge in accordance with sections 182 and 205 of the Ordinance, if required, as pointed out in the audit report.

Copyright Business Recorder, 2021

Comments

Comments are closed.

FBR delineates key features of new e-audit system

Imran talks of ‘jail bharo’ movement soon

Pakistan to appeal to Taliban leader over mosque bombing

Section 144 imposed in Peshawar

Marriyum steps up criticism of IK

IK says ‘some other people’ behind acts of vengeance

Foreign authorities seeking properties/bank accounts info: FBR won’t intimate concerned taxpayer about request

Dar chairs meeting on role of PDFL, SOEs

‘Kashmir Solidarity Day’ today

WB board to consider $78m ‘digital economy’ project next month

PM directs PD to recover Rs1.13bn royalty amount from 2 oil, gas cos