FBR publishes draft amendments in Income Tax Rules for feedback

The Federal Board of Revenue (FBR) has published and placed the draft of certain amendments in Income Tax Rules 2002 on its website, seeking public suggestions on it for consideration of the board.

The amendments in the rules have been proposed in the exercise of the powers conferred by sub-section (1) of section 237 of the Income Tax Ordinance 2001 (KLIX of 2001), said FBR notification issued here.

The ordinance rules have been published for information of all persons likely to be affected thereby, as required by sub-section 92) of said section.

The draft would be taken into consideration by the board after seven days of its publication in the official gazette.

Hence, the board has asked the stakeholders that if they had any objections or suggestion on the matter, forward to the board before expiry of the aforesaid period for its consideration.

“Any objection or suggestion, which may be received from any person, in respect of the said draft, before expire of the aforesaid period shall be taken into consideration of the board,” it added.

Meanwhile, the board has launched an application enabling taxpayers to prepare Income Tax Return and Wealth Statement without using Internet to resolve the connectivity issues often faced by the taxpayers.

The application called Iris-ADX (Asynchronous Data Exchange) has been prepared and launched by the Information Technology (IT) Wing of the FBR to facilitate the taxpayers.

The application allows the taxpayer / E-intermediary to prepare data related to Income Tax return and wealth Statement in Offline mode.

This application will help taxpayers to prepare Income Tax Return and Wealth Statement without using internet which will overcome and resolve the issue of connectivity they face locally and during the peak hours.

After preparing the statements in offline mode, the same can be uploaded to FBR’s repository seamlessly.

(APP)