KARACHI: Submission of relevant particulars or information shall make a return of income a valid document.
Officials at Federal Board of Revenue (FBR) said that taxpayers should ensure making all relevant entries before filing income tax return in order to avoid hassle at the time of scrutiny,
They said that although the tax authorities treated the income tax return as assessment order when it is filed to the FBR’s portal. However, when it is selected under defined parameters or identification of any concealment the missing entries can make problems for taxpayers, they added.
The officials also said that a taxpayer should also ensure the payment of tax as calculated on the basis of tax chart for the relevant year for which the return is filed.
They said that a return of income –
(a) shall be in the prescribed form and shall be accompanied by such annexures, statements or documents as may be prescribed;
(b) shall fully state all the relevant particulars or information as specified in the form of return, including a declaration of the records kept by the taxpayer;
(c) shall be signed by the person, being an individual, or the person’s representative where section 172 applies;
(d) shall be accompanied with evidence of payment of due tax as per return of income;
(e) shall be accompanied with a wealth statement as required under section 116; and
(f) shall be accompanied with a foreign income and assets statement as required under section 116A.
