LAHORE: Federal Board of Revenue (FBR) Member Taxpayers (Audit) Nausheen Javaid Amjad said that Section 214 E of Income Tax Ordinance 2001 is inserted to control the automatic selection of late income tax filers.
She was addressing the participants of a seminar organized by Pakistan Tax Bar Association (PTBA) and Lahore Tax Bar Association (LTBA) in Corporate Regional Tax Office Lahore.
Nausheen Javaid Amjad said that there are two major amendments in the law related to the audit, one is removal of section 214 D and second is insertion of section 214E.
The purpose of insertion of section 214E is to facilitate taxpayers and remove pressure on those taxpayers who file their tax returns late and their cases are selected for audit automatically. Now, these taxpayers can pay 25 percent more tax as compared to the last tax year to conclude their audit cases.
She said that it is quite surprising that in the presence of advance technology, more than 1000 taxpayers still filed their returns using old method.
She said that the system regarding filing of returns is updated on PRAL and now there is no need for taxpayers’ visit to any tax office. Only taxpayers can visit PRAL website to resolve their issues.
In the seminar, Chief Commissioner Large Taxpayers Unit (LTU) Asim Majeed, Chief Commissioner Corporate Regional Tax Office (CRTO) Syed Nadeem Rizvi, Chief Commissioner Regional Tax Office-II (RTO-II) Sadia Sadaf Gillani and some other audit related officers of regional tax offices participated.
President Pakistan Tax Bar Association (PTBA) Abdul Qadir Memon, Secretary PTBA Zubair, President Lahore Tax Bar Association (LTBA) Monam Sultan, Formar president of LTBA Chaudhary Qamar Zaman, all office bearers of Lahore Tax Bar Association (LTBA) and tax lawyers participated in the seminar.
During the seminar, President Pakistan Tax Bar Association (PTBA) Abdul Qadir Memon said that taxpayers must file their tax returns till 31 December because after due date Federal Board of Revenue has no mandate to extend the date.
The insertion of section 214E is success of PTBA because Pakistan Tax Bar Association raised this issue with the FBR and Nosheen Javaid played vital role for amending the relevant law.
Monam Sultan President Lahore Tax Bar Association said that tax bar always supports FBR and ‘we will continue our support further’.
President Lahore Chamber of Commerce and Industry Almas Haider said that ease of doing business is more necessary in Pakistan and ‘we expect that Naya Pakistan will support the business community and create more opportunities for business’.
