Skip to content
Qanoon Digest

Draft Income tax Return Forms Manual for Individual and AOPs for Tax Year 2021

SRO 1022(I)/2021Return formsDraft

SRO 1022(I)/2021 is an Income Tax SRO dated 16 August 2021, listed by FBR as "Draft Income tax Return Forms Manual for Individual and AOPs for Tax Year 2021".

FBR publishes this SRO as scanned images, so the text below was transcribed by Qanoon Digest from the page images, with tables set out as tables. Check the official PDF before relying on any wording or figure.

Page 1

GOVERNMENT OF PAKISTAN
REVENUE DIVISION
FEDERAL BOARD OF REVENUE

Islamabad, the 16th August, 2021

NOTIFICATION
(Income Tax)

S.R.O. 1022(I)/2021.- The following draft of certain further amendments in the Income Tax Rules, 2002, which the Federal Board of Revenue proposes to make in exercise of the powers conferred by sub-section (1) of section 237 of the Income Tax Ordinance, 2001 (XLIX of 2001), is hereby published for information of all persons likely to be affected thereby and, as required by sub-section (3) of said section, notice is hereby given that objection or suggestions thereon, if any, may for consideration of the Federal Board of Revenue be sent within seven days of publication of the draft in the official Gazette. Objections or suggestions, which may be received from any person in respect of the said draft, before the expiry of the aforesaid period, shall be considered by the Federal Board of Revenue.

DRAFT AMENDMENTS

In the aforesaid Rules, in the Second Schedule, after Part-II-T, the following new Part-II-U shall be added, namely:-

Page 2

"Individual Paper Return for Tax Year 2021

RETURN OF TOTAL INCOME UNDER THE INCOME TAX ORDINANCE, 2001 (IT-1B)
(FOR INDIVIDUAL, DERIVING INCOME UNDER ANY HEAD OTHER THAN SALARY / BUSINESS)
Name*
CNIC*
Address*
Tax Year 2021
NTN
Sr. Description Code Total Amount Amount Exempt from Tax / Subject to Fixed / Final Tax Amount Subject to Normal Tax
A B C
1 Income/(loss) from property 2000
2 Gains / (Loss) from Capital Assets 4000
3 Income / (Loss) from Other Sources 5000
4 Foreign Income 6000
5 Share in untaxed Income from AOP 3131
6 Share in Taxed Income from AOP 3141
7 Total Income* 9000
Deductible Allowances Total Inadmissible Admissible
Deductible Allowances 8 Deductible Allowances [9+10+11] 9009
Deductible Allowances 9 Zakat u/s 60 9001
Deductible Allowances 10 Deductible Allowance for Profit on Debt u/s 60C 9007
Deductible Allowances 11 Educational expenses u/s 60D 9008
12 Taxable Income [7-8]* 9100
Computations 13 Tax Chargeable [Col.C 14-15+25] 9200
Computations 14 Normal Income Tax 920000
Computations 15 Tax Credits 9329
Computations 16 Tax Paid [Sr. 18 + 19 + 25 + Sr.1 Annex-A] 64220057
Computations 17 Advance Income Tax 9202
Computations 18 Admitted Income Tax 9203
Computations 19 Refundable Income Tax [13-17 if <0] 9210
Computations 20 Demanded Income Tax [13-17 if >0] 9204
Computations 21 Refund Adjustment of Other Year(s) against Demand of this Year [=20] 92101
Computations 22 Agriculture Income 6100
Computations 23 Agriculture Income Tax 9291
Receipts / Value Tax Collected/ Deducted/Paid Tax Chargeable
Final / Fixed / Average / Relevant / Reduced Rate Regime 24 Final / Fixed / Minimum / Average / Relevant / Reduced Income Tax 640001
Final / Fixed / Average / Relevant / Reduced Rate Regime 25 Import of Mobile u/s 148 64120045
Final / Fixed / Average / Relevant / Reduced Rate Regime 26 Dividend u/s 150 @7.5% 64030052
Final / Fixed / Average / Relevant / Reduced Rate Regime 27 Dividend u/s 150 @ 15% 64030055
Final / Fixed / Average / Relevant / Reduced Rate Regime 28 Yield on Bahbood certificates/Pensioners benefit account 64030071
Final / Fixed / Average / Relevant / Reduced Rate Regime 29 Profit on Debt u/s 7B 64310056
Final / Fixed / Average / Relevant / Reduced Rate Regime 30 Income from property u/s 15(6) 64080052
Final / Fixed / Average / Relevant / Reduced Rate Regime 31 Prize on Prize Bond u/s 156 64090051
Final / Fixed / Average / Relevant / Reduced Rate Regime 32 Winnings from Crossword Puzzle u/s 156 64090052
Final / Fixed / Average / Relevant / Reduced Rate Regime 33 Winnings from Raffle u/s 156 64090053
Final / Fixed / Average / Relevant / Reduced Rate Regime 34 Winnings from Lottery u/s 156 64090054
Final / Fixed / Average / Relevant / Reduced Rate Regime 35 Winnings from Quiz u/s 156 64090055
Final / Fixed / Average / Relevant / Reduced Rate Regime 36 Winnings from Sale Promotion u/s 156 64090056
Final / Fixed / Average / Relevant / Reduced Rate Regime 37 Dividend in specie u/s 236S @ 7.5% 64151802
Final / Fixed / Average / Relevant / Reduced Rate Regime 38 Dividend in specie u/s 236S @ 15% 64151807
Final / Fixed / Average / Relevant / Reduced Rate Regime 39 Advance tax on registering or attesting transfer of immovable property u/ 64151951
Final / Fixed / Average / Relevant / Reduced Rate Regime 40 Capital Gains on Immovable Property u/s 37(1A) @0% 64220051
Final / Fixed / Average / Relevant / Reduced Rate Regime 41 Capital Gains on Immovable Property u/s 37(1A) 64220052
Final / Fixed / Average / Relevant / Reduced Rate Regime 42 Capital Gains on Securities u/s 37A @ 0% 64220151
Final / Fixed / Average / Relevant / Reduced Rate Regime 43 Capital Gains on Securities u/s 37A @ 5% 64220153
Final / Fixed / Average / Relevant / Reduced Rate Regime 44 Capital Gains on Securities u/s 37A @ 7.5% 64220157
Final / Fixed / Average / Relevant / Reduced Rate Regime 45 Capital Gains on Securities u/s 37A @ 10% 64220158
Final / Fixed / Average / Relevant / Reduced Rate Regime 46 Capital Gains on Securities u/s 37A @ 12.5% 64220155
Final / Fixed / Average / Relevant / Reduced Rate Regime 47 Capital Gains on Securities u/s 37A @ 15% 64220156

Verification

____________, CNIC No. ____________, in my capacity as Self / Representative (as defined in section 172 of the Income Tax Ordinance, 2001) of the Taxpayer named above, do solemnly declare that to the best of my knowledge & belief the information given in this Return is correct & complete in accordance with the provisions of the Income Tax Ordinance, 2001 & Income Tax Rules, 2002.

Date:

Signature:

Page 3

RETURN OF TOTAL INCOME UNDER THE INCOME TAX ORDINANCE, 2001 (IT-2) 2/2
FOR INDIVIDUAL DERIVING INCOME UNDER THE HEAD BUSINESS & ANY OTHER HEAD EXCEPT SALARY
Name*
CNIC*
Tax Year 2021
NTN

Final / Fixed / Average / Relevant / Reduced Rate Regime

Sr. Description Code Receipts / Value / Number Tax Collected/ Deducted/Paid Tax Chargeable
A B C
54 Final / Fixed / Minimum / Average / Relevant / Reduced Income Tax [Sum of 52 to 145] 640001
55 Attributable income from controlled foreign company u/s 109A @15% 64030055
56 Import u/s 148 @1% 64010052
57 Import u/s 148 @2% 64010054
58 Import u/s 148 @3% 64010056
59 Import u/s 148 @4% 64010058
60 Import u/s 148 @5.5% 64010061
61 Import u/s 148 @ 4.125% 64010083
62 Import of Edible Oil u/s 148 @5.5% 64010161
63 Import of Packing Material u/s 148 @5.5% 64010181
64 Import of Mobile u/s 148 64120045
65 Dividend u/s 150 @7.5% 64030052
66 Dividend u/s 150 @ 15% 64030055
67 Yield on Behbood Certificates / Pensioner"s Benefit Account/Shuhada Family Welfare Account 64030071
68 Return on investment in sukuks u/s 5AA 64030098
69 Dividend to a Non-Resident covered under ADDT u/s 150 / u/s 5 64030099
70 Royalty / Fee for Technical Services to a Non-Resident u/s 152(1) / Division IV, Part I, 1st Schedule 64050051
71 Payment for Contracts for Construction, Assembly or Installation to a Non-Resident u/s 152(1A)(a) / Division II, Part III, 1st Schedule 64050052
72 Payment for Services, Contracts to a Non-Resident u/s 152(1A)(b) / Division II, Part III, 1st Schedule 64050053
73 Fee for Advertisement Services to a Non-Resident u/s 152(1A)(c) / Division II, Part III, 1st Schedule 64050054
74 Insurance / Reinsurance Premium to a Non-Resident u/s 152(1AA) / Division II, Part III, 1st Schedule 64050055
75 Fee for Advertisement Services to a Non-Resident u/s 152(1AAA) / Division II, Part III, 1st Schedule 64050056
76 Profit on Debt u/s 152(2) / u/c (5A), Part II, 2nd Schedule 64050096
77 Royalty / Fee for Technical Services to a Non-Resident covered under ADDT 64050097
78 Payment for Goods, Services, Contracts, Rent, etc. to a Non-Resident covered under ADDT 64050098
79 Payment for foreign produced commercials to a non-resident u/s 152A 64050100
80 Payment for transport services to a PE of a non-resident u/s 152(2A)(b) @ 2% 64050094
81 Payment for other services to a PE of a non-resident u/s 152(2A)(b) @ 10% 64050095
82 Fee for offshore digital servies to a non-resident u/s 152(1C) 64050057
83 Payment for Goods u/s 153(1)(a) @1% 64060052
84 Payment for Goods u/s 153(1)(a) @1.5% 64060053
85 Payment for Goods u/s 153(1)(a) @ 2.5% 64060055
86 Payment for Goods u/s 153(1)(a) @4.5% 64060059
87 Payment for Services u/s 153(1)(b) @ 1% 64060152
88 Payment for services u/s 153(1)(b) @ 1.5% 64060153

Page 4

Final / Fixed / Average / Relevant / Reduced Rate Regime

Sr. Description Code Receipts / Value / Number Tax Collected/ Deducted/Paid Tax Chargeable
89 Payment for Services u/s 153(1)(b) @ 2% 64060154
90 Payment for Services u/s 153(1)(b) @ 10% 64060170
91 Receipts from Contracts u/s 153(1)(c) @7.5% 64060265
92 Receipts from Contracts u/s 153(1)(c) @10% 64060270
93 Fee for Export related Services u/s 153(2) @1% 64060352
94 Deduction of Tax from Yarn Traders u/s 153(1)(a) 6406081
95 Deduction of Tax from Yarn Traders u/s 153(1)(b) 6406082
96 Export Proceeds u/s 154 @1% 64070054
97 Foreign Indenting Commission u/s 154(2) @5% 64070151
98 Sale proceeds of goods to exporter u/s 154(3) 64070152
99 Sale proceeds of goods by industrial undertaking u/s 154(3A) 64070153
100 Contract payments to indirect exporter u/s 154(3B) 64070154
101 Export Proceeds u/s 154(3C) 64070155
102 Income from Property u/s 15(6) 64080052
103 Prize on Prize Bond u/s 156 64090051
104 Winnings from Crossword Puzzle u/s 156 64090052
105 Winnings from Raffle u/s 156 64090053
106 Winnings from Lottery u/s 156 64090054
107 Winnings from Quiz u/s 156 64090055
108 Winnings from Sale Promotion u/s 156 64090056
109 Commission / Discount on petroleum products u/s 156A @ 12% 64090151
110 Brokerage / Commission u/s 233 @5% 64120060
111 Brokerage / Commission u/s 233 @8% 64120066
112 Brokerage / Commission u/s 233 @10% 64120070
113 Brokerage / Commission u/s 233 @12% 64120074
114 CNG Station Gas Bill u/s 234A 64130151
115 Electricity Bill of Commercial Consumer u/s 235 64140051
116 Electricity Bill of Industrial Consumer u/s 235 64140052
117 Lease of rights to collect tolls u/s 236A(3) 64150102
118 Sale of certain petroleum products u/s 236HA @ 0.5% 64151653
119 Payment for rent / right to use machinery / equipment u/s 236Q 64151651
120 Rent of machinery & equipment u/s 236Q(2) 64151652
121 Dividend in specie u/s 236S @ 7.5% 64151802
122 Dividend in specie u/s 236S @ 15% 64151807
123 Capital Gains on Immovable Property u/s 37(1A) @0% 64220051
124 Capital Gains on Immovable Property u/s 37(1A) 64220052
125 Capital Gains on Securities u/s 37A @ 0% 64220151
126 Capital Gains on Securities u/s 37A @ 5% 64220153
127 Capital Gains on Securities u/s 37A @ 7.5% 64220157
128 Capital Gains on Securities u/s 37A @ 10% 64220158
129 Capital Gains on Securities u/s 37A @ 12.5% 64220155
130 Capital Gains on Securities u/s 37A @15% 64220156
131 Purchase of Locally Produced Edible Oil/Vegitable Ghee u/s 148A @2% 64310053
132 Receipts from shipping business of a resident person u/s 7A 64310055
133 Profit on Debt u/s 7B 64310056
134 Fee for transport services outside Pakistan under clause(3),Part-II, Second Schedule @ 1% 64310061
135 Fee for advertising services by electronic and print media outside Pakistan under clause (3), Part-II, Second Schedule @ 0.75% 64310062
136 Fee for other services outside Pakistan under clause (3), Part-II, Second Schedule @ 5% 64310063
137 Receipts for Contracts outside Pakistan u/c (3), Part II, 2nd Schedule @3.75% 64310071
138 Fee for Carriage Services by Oil Tanker/Goods Transport Contractor u/c (43D) and (43E), Part IV, 2nd Schedule 64320051

Signature:

Date:

Page 5

Annex-A
Adjustable Tax Collected / Deducted
Name*
CNIC*
Tax Year 2021
NTN
Sr. Description Code Receipts / Value Tax Collected / Deducted / Paid
A B
1 Adjustable Tax [Sum of 2 to 61] 640000
2 Import u/s 148 @1% 64010002
3 Import u/s 148 @2% 64010004
4 Import u/s 148 @3% 64010006
5 Import u/s 148 @ 4% 64010008
6 Import u/s 148 @5.5% 64010011
7 Directorship Fee u/s 149(3) @20% 64020005
8 Tax with held u/s 151 (if amount u/s 7B exceeds 36 million) 64040005
9 Payment for Goods, Services, Contracts, Rent, etc. to a Non-Resident u/s 152(2) 64050007
10 Profit on Debt to a Non-Resident u/s 152(2) 64050008
11 Payment for Goods to a PE of a Non-Resident u/s 152(2A)(a) / Division II, Part III, 1st Schedule 64050009
12 Payment for Contracts to a PE of a Non-Resident u/s 152(2A)(c) / Division II, Part III, 1st Schedule 64050012
13 Payment for Goods u/s 153(1)(a) @1% 64060002
14 Payment for Goods u/s 153(1)(a) @1.5% 64060003
15 Payment for Goods u/s 153(1)(a) @2.5% 64060005
16 Payment for Goods u/s 153(1)(a) @4.5% 64060009
17 Payment of Royalty to resident person u/s 153B @ 15% 64060232
18 Cash Withdrawal from Bank u/s 231A 64100101
19 Certain Banking Transactions u/s 231AA 64100201
20 Motor Vehicle Registration Fee u/s 231B(1) 64100301
21 Motor Vehicle Transfer Fee u/s 231B(2) 64100302
22 Motor Vehicle Sale u/s 231B(3) 64100303
23 Motor Vehicle Leasing u/s 231B(1A) @4% 64100304
24 Margin Financing, Margin Trading or Securities Lending u/s 233AA 64120201
25 Goods Transport Public Vehicle Tax u/s 234 64130001
26 Passenger Transport Public Vehicle Tax u/s 234 64130002
27 Private Vehicle Tax u/s 234 64130003
28 Electricity Bill of Domestic Consumer u/s 235A 64140101
29 Telephone Bill u/s 236(1)(a) 64150001
30 Cellphone Bill u/s 236(1)(a) 64150002

Page 6

Sr. Description Code Receipts / Value Tax Collected / Deducted / Paid
31 Prepaid Telephone Card u/s 236(1)(b) 64150003
32 Phone Unit u/s 236(1)(c) 64150004
33 Internet Bill u/s 236(1)(d) 64150005
34 Prepaid Internet Card u/s 236(1)(e) 64150006
35 Purchase by Auction u/s 236A 64150101
36 Domestic Air Ticket Charges u/s 236B 64150201
37 Sale / Transfer of Immovable Property u/s 236C 64150301
38 Issuance of License to IPTV, FM Radio, MMDS, Mobile TV, Mobile Audio, Satellite TV Channel and Landing Rights u/s 236F 64150603
39 Purchase of other commodities by Distributors / Dealers / Wholesalers u/s 236G 64150701
40 Purchase of Fertilizer by Distributors / Dealers / Wholesalers u/s 236G 64150702
41 Purchase by Retailers u/s 236H 64150801
42 Purchase by others from Retailers u/s 236H 64150804
43 Educational Institution Fee u/s 236I 64150901
44 Purchase / Transfer of Immovable Property u/s 236K 64151101
45 Purchase of International Air Ticket u/s 236L 64151201
46 Banking transactions otherwise than through cash u/s 236P 64151501
47 Advance tax on extraction of minerals u/s 236V 64152101
48 Advance tax on reimittance through credit, debit, prepaid cards u/s 236Y 64151905

Signature:

Date:

Page 7

Annex-B 1/2
Manufacturing / Trading / Profit & Loss Account ( including Revenues subject to Final / Fixed Tax)
(Separate form should be filled for each business)
Name*
CNIC*
Busine
Tax Year 2021
NTN
Sr. Description Code Total Amount Amount Subject to Final Tax Amount Subject to Normal Tax
A B C
Revenue 1 Net Revenue (excluding Sales Tax, Federal Excise, Brokerage, Commission, Discount, Freight Outward) [2-3] 3029
Revenue 2 Gross Revenue (excluding Sales Tax, Federal Excise) 3009
Revenue 3 Selling Expenses (Freight Outward, Brokerage, Commission, Discount, etc.) 3019
Cost of Sales / Services 4 Cost of Sales / Services [(sum of 5 to 15)-16] 3030
Cost of Sales / Services 5 Opening Stock 3039
Cost of Sales / Services 6 Net Purchases (excluding Sales Tax, Federal Excise) 3059
Cost of Sales / Services 7 Salaries / Wages 3071
Cost of Sales / Services 8 Fuel 3072
Cost of Sales / Services 9 Power 3073
Cost of Sales / Services 10 Gas 3074
Cost of Sales / Services 11 Stores / Spares 3076
Cost of Sales / Services 12 Repair / Maintenance 3077
Cost of Sales / Services 13 Other Direct Expenses 3083
Cost of Sales / Services 14 Accounting Amortization 3087
Cost of Sales / Services 15 Accounting Depreciation 3088
Cost of Sales / Services 16 Closing Stock 3099
Cost of Sales / Services 17 Gross Profit / (Loss) [1-4] 3100
18 Other Revenues [Sum of 19 to 22] 3129
19 Accounting Gain on Sale of Intangibles 3115
20 Accounting Gain on Sale of Assets 3116
21 Others 3128
22 Share in untaxed Income from AOP 3131

Page 8

Sr. Description Code Total Amount Amount Subject to Final Tax Amount Subject to Normal Tax
23 Share in Taxed Income from AOP 3141
Indirect Expenses 24 Management, Administrative, Selling & Financial Expenses [Sum of 25 to 44] 3199
Indirect Expenses 25 Rent 3151
Indirect Expenses 26 Rates / Taxes / Cess 3152
Indirect Expenses 27 Salaries / Wages / Perquisites / Benefits 3154
Indirect Expenses 28 Traveling / Conveyance / Vehicles Running / Maintenance 3155
Indirect Expenses 29 Electricity / Water / Gas 3158
Indirect Expenses 30 Communication 3162
Indirect Expenses 31 Repair / Maintenance 3165
Indirect Expenses 32 Stationery / Printing / Photocopies / Office Supplies 3166
Indirect Expenses 33 Advertisement / Publicity / Promotion 3168
Indirect Expenses 34 Insurance 3170
Indirect Expenses 35 Professional Charges 3171
Indirect Expenses 36 Profit on Debt (Financial Charges / Markup / Interest) 3172
Indirect Expenses 37 Brokerage / Commission 3178
Indirect Expenses 38 Irrecoverable Debts written off 3186
Indirect Expenses 39 Obsolete Stocks / Stores / Spares / Fixed Assets written off 3187
Indirect Expenses 40 Other Indirect Expenses 3180
Indirect Expenses 41 Accounting (Loss) on Sale of Intangibles 3195
Indirect Expenses 42 Accounting (Loss) on Sale of Assets 3196
Indirect Expenses 43 Accounting Amortization 3197
Indirect Expenses 44 Accounting Depreciation 3198
Indirect Expenses 45 Accounting Profit / (Loss) [17+18-24] 3200

Signature:

Date:

Annex-B 2/2
Manufacturing / Trading / Profit & Loss Account ( including Revenues subject to Final / Fixed Tax)
(Separate form should be filled for each business)
Name*
CNIC*
Tax Year 2021
NTN*
Sr. Description Code Total Amount Amount Subject to Final Taxation Amount Subject to Normal Taxation

Page 9

Sr. Description Code A B C
46 Income / (Loss) from Business before adjustment of Admissible Depreciation / Initial Allowance / Amortization for current / previous years 3270
47 Unadjusted (Loss) from Business for 2015 327015
48 Unadjusted (Loss) from Business for 2016 327016
49 Unadjusted (Loss) from Business for 2017 327017
50 Unadjusted (Loss) from Business for 2018 327018
51 Unadjusted (Loss) from Business for 2019 327019

Statement of Affairs / Balance Sheet

Sr. Description Code A B C
Assets 52 Total Assets [Sum of 54 to 59] 3349
Assets 53 Land 3301
Assets 54 Building (all types) 3302
Assets 55 Plant / Machinery / Equipment / Furniture (including fittings) 3303
Assets 56 Advances / Deposits / Prepayments/ Trade Debtors / Receivables 3312
Assets 57 Stocks / Stores / Spares 3315
Assets 58 Cash / Cash Equivalents 3319
Liabilities 59 Total Equity / Liabilities [Sum of 61 to 63] 3399
Liabilities 60 Capital 3352
Liabilities 61 Borrowings / Debt / Loan 3371
Liabilities 62 Advances / Deposits / Accrued Expenses/ Trade Creditors / Payables 3384

Signature:

Date:

Page 10

Annex-C
Inadmissible / Admissible Deductions
Name*
CNIC*
Tax Year 2021
NTN
Sr. Description Code Amount
1 Inadmissible Deductions [Sum of 2 to 29] 3239
Inadmissible Deductions 2 Add Backs u/s 29(2) Provision for Doubtful Debts 3201
Inadmissible Deductions 3 Add Backs Provision for Obsolete Stocks / Stores / Spares / Fixed Assets 3202
Inadmissible Deductions 4 Add Backs Provision for Diminution in Value of Investment 3203
Inadmissible Deductions 5 Add Backs u/s 21(a) Cess / Rate / Tax levied on Profits / Gains 3205
Inadmissible Deductions 6 Add Backs u/s 21(b) Amount of Tax Deducted at Source 3206
Inadmissible Deductions 7 Add Backs u/s 21(c) Payments liable to deduction of tax at source but tax not deducted / paid 3207
Inadmissible Deductions 8 Add Backs u/s 21(d) Entertainment Expenditure above prescribed limit 3208
Inadmissible Deductions 9 Add Backs u/s 21(e) Contributions to Unrecognized / Unapproved Funds 3209
Inadmissible Deductions 10 Add Backs u/s 21(f) Contributions to Funds not under effective arrangement for deduction of tax at source 3210
Inadmissible Deductions 11 Add Backs u/s 21(g) Fine / penalty for violation of any law / rule / regulation 3211
Inadmissible Deductions 12 Add Backs u/s 21(h) Personal Expenditure 3212
Inadmissible Deductions 13 Add Backs u/s 21(i) Provision for Reserves / Funds / Amount carried to Reserves / Funds or Capitalized 3204
Inadmissible Deductions 14 Add Backs u/s 21(j) Profit on Debt / Brokerage / Commission / Salary / Remuneration paid by an AOP to its member 3213
Inadmissible Deductions 15 Add Backs u/s 21(l) Expenditure under a single account head exceeding prescribed amount not paid through prescribed mode 3215
Inadmissible Deductions 16 Add Backs u/s 21(m) Salary exceeding prescribed amount not paid through prescribed mode 3216
Inadmissible Deductions 17 Add Backs u/s 21(n) Capital Expenditure 3217
Inadmissible Deductions 18 Add Backs u/s 67(1) Expenditure attributable to Non-Business Income 3218
Inadmissible Deductions 19 Add Backs u/s 34(5) Liabilities allowed Previously as deduction not Paid within three Years 3219
Inadmissible Deductions 20 Add Backs u/s 28(1)(b) Lease Rental not admissible 3220
Inadmissible Deductions 21 Add Backs u/s 21(o) Sales promotion, advertisement and publicity expenses of pharmaceutical manufacturers exceeding prescribed limit 3224
Inadmissible Deductions 22 Add Backs Tax Gain on Sale of Intangibles 3225

Page 11

Sr. Description Code Amount
Inadmissible Deductions 23 Add Backs Tax Gain on Sale of Assets 3226
Inadmissible Deductions 24 Add Backs u/s 21(ca) commission in excess of 0.2% of grass amount of supplies to a person not appearing in ATL in third schedule to Sales Tax Act, 1990. 3227
Inadmissible Deductions 25 Add Backs Pre-Commencement Expenditure / Deferred Cost 3230
Inadmissible Deductions 26 Add Backs Accounting (Loss) on Sale of Intangibles 3235
Inadmissible Deductions 27 Add Backs Accounting (Loss) on Sale of Assets 3236
Inadmissible Deductions 28 Add Backs Accounting Amortization 3237
Inadmissible Deductions 29 Add Backs Accounting Depreciation 3238
Inadmissible Deductions 30 Other Inadmissible Deductions 3234
Admissible Deductions 31 Admissible Deductions [Sum of 31 to 40] 3259
Admissible Deductions 32 Accounting Gain on Sale of Intangibles 3245
Admissible Deductions 33 Accounting Gain on Sale of Assets 3246
Admissible Deductions 34 Tax Amortization for Current Year 3247
Admissible Deductions 35 Tax Depreciation / Initial Allowance for Current Year 3248
Admissible Deductions 36 Pre-Commencement Expenditure / Deferred Cost 3250
Admissible Deductions 37 Other Admissible Deductions 3254
Admissible Deductions 38 Tax (Loss) on Sale of Intangibles 3255
Admissible Deductions 39 Tax (Loss) on Sale of Assets 3256
Admissible Deductions 40 Unabsorbed Tax Amortization for Previous Years 3257
Admissible Deductions 41 Unabsorbed Tax Depreciation for Previous Years 3258

Signature:

Date:

Page 12

Annex-D
Depreciation, Initial Allowance, Amortization
Name*
CNIC*
Tax Year 2021
NTN
Sr. Description Code WDV (BF) Deletion Addition (Used Previously in Pakistan) Extent of Use Addition (New) Extent of Use Rate Initial Allowance Rate Depreciation WDV (CF)
A B C D E F G H I
Depreciation 1 Building (all types) 3302 100% 100% 15% 10%
Depreciation 2 Ramp for Disabled Persons 330204 100% 100% 100% 100%
Depreciation 3 Plant / Machinery (not otherwise specified) 330301 100% 100% 25% 15%
Depreciation 4 Computer Hardware / Allied Items / Equipment used in manufacture of IT products 330302 100% 100% 25% 30%
Depreciation 5 Furniture (including fittings) 330303 100% 100% 0% 15%
Depreciation 6 Technical / Professional Books 330304 100% 100% 25% 15%
Depreciation 7 Below ground installations of mineral oil concerns 330305 100% 100% 25% 100%
Depreciation 8 Offshore Installations of mineral oil concerns 330306 100% 100% 25% 20%
Depreciation 9 Office Equipment 330307 100% 100% 25% 15%
Depreciation 10 Machinery / Equipment eligible for 1st year Allowance 330308 100% 100% 90% 15%
Depreciation 11 Motor Vehicle (not plying for hire) 33041 100% 100% 0% 15%
Depreciation 12 Motor Vehicle (plying for hire) 33042 100% 100% 25% 15%
Depreciation 13 Ships 33043 100% 100% 25% 15%
Depreciation 14 Aircrafts / Aero Engines 33044 100% 100% 25% 30%
Depreciation 15 Tax Depreciation / Initial Allowance for Current Year 3248 100% 100%
Sr. Description Code WDV (BF) Remaining Useful Life Extent of Use Amortization
A B C D
Amortization 16 Intangible 3305
Amortization 17 Intangible 3305
Amortization 18 Intangible 3305
Amortization 19 Expenditure providing Long Term Advantage / Benefit 330516
Amortization 20 Tax Amortization for Current Year 3247
Amortization 21 Pre-Commencement Expenditure 3306

Signature:

Date:

Page 13

Annex-E
Name*
CNIC*
Tax Year 2021
NTN
Sr. Description Code Receipts / Value Tax Collectible / Deductible Attributable Taxable Income Tax on Attributable Taxable Income Minimum Tax Chargeable
1 Minimum Tax Chargeable [Col.E Sum of 2 to 6] A B C D E
Minimum Tax Chargeable 2 mport u/s 148 @1% 64010052
Minimum Tax Chargeable 3 Import u/s 148 @2% 64010054
Minimum Tax Chargeable 4 Import u/s 148 @3% 64010056
Minimum Tax Chargeable 5 Import u/s 148 @4% 64010058
Minimum Tax Chargeable 6 Import u/s 148 @6% 64010062
Minimum Tax Chargeable 7 Import of Edible Oil u/s 148 @5.5% 64010161
Minimum Tax Chargeable 8 Import of Packing Material u/s 148 @5.5% 64010181
Minimum Tax Chargeable 9 Import of Plastic Raw Material u/s 148 @ 1.75% 64010081
Minimum Tax Chargeable 10 Import u/s 148 @ 4.125% 64010083
Minimum Tax Chargeable 11 Import u/s 148 @ 2.75% 64010082
Minimum Tax Chargeable 12 Import of ships by ship breakers u/s 148(8A) @ 4.5% 64010059
Minimum Tax Chargeable 13 Payment for contracts for consruction, assembly of instalation to a non-resident u/s 152(1A) 64050052
Minimum Tax Chargeable 14 Payment for transport services to a PE of a non-resident u/s 152(2A)(b) 64050094
Minimum Tax Chargeable 15 Payment for services contracts to a non-resident u/s 152(1A)(b) 64050053
Minimum Tax Chargeable 16 Fee for Advertisement Services to a non-resident u/s 152(1A)© 64050054
Minimum Tax Chargeable 17 Insurance/re-instruance premium to a non-resident u/s 152(1AA) 64050055
Minimum Tax Chargeable 18 Payment for other services for PE of a non-resident u/s 152(2A)(b) 64050095
Minimum Tax Chargeable 19 Payment for Services u/s 153(1)(b) @1% 64060152
Minimum Tax Chargeable 20 Payment for goods u/s 153(1a) @ 0.25% 64060082
Minimum Tax Chargeable 21 Payment for goods u/s 153(1a) @ 2.5% 64060055
Minimum Tax Chargeable 22 Payment for goods u/s 153(1a) @ 4.5% 64060059
Minimum Tax Chargeable 23 Payment for Services u/s 153(1)(b) @ 1.5% 64060153
Minimum Tax Chargeable 24 Payment for specified for Services u/s 153(1)(b) @ 3% 64060156
Minimum Tax Chargeable 25 Payment for Services u/s 153(1)(b) @2% 64060154
Minimum Tax Chargeable 26 Payment for Services u/s 153(1)(b) @10% 64060170
Minimum Tax Chargeable 27 Payment for Services u/s 153(1)(b) @15% 64060180
Minimum Tax Chargeable 28 Receipts from Contracts u/s 153(1)(c) @7.5% 64060265
Minimum Tax Chargeable 29 Receipts from Contracts u/s 153(1)(c) @10% 64060270
Minimum Tax Chargeable 30 Payment for Goods u/s 153(1)(a) @1% 64060052
Minimum Tax Chargeable 31 Payment for Goods u/s 153(1)(a) @1.5% 64060053
Minimum Tax Chargeable 32 Payment for Goods u/s 153(1)(a) @4.5% 64060059

Page 14

Minimum Tax Chargeable

Sr. Description Code Receipts / Value Tax Collectible / Deductible Attributable Taxable Income Tax on Attributable Taxable Income Minimum Tax Chargeable
33 Fee for Export related Services u/s 153(2) @1% 64060352
34 Deduction of Tax from yarn u/s 153(1)(a) 64060281
35 Deduction of Tax from yarn u/s 153(1)(b) 64060282
36 Brokerage / Commission u/s 233 @8% 64120066
37 Brokerage / Commission u/s 233 @10% 64120070
38 Brokerage / Commission u/s 233 @12% 64120074
39 Brokerage / Commission u/s 233 @5% 64120060
40 Number of imported mobile phones u/s 148 upto 30$ @ Rs.70 64120045
41 Number of imported mobile phones u/s 148 exceeding 30$ upto 100$ @ Rs.100 64120046
42 Number of imported mobile phones u/s 148 exceeding 100$ upto 200$ @ Rs.930 64120047
43 Number of imported mobile phones u/s 148 exceeding 200$ upto 350$ @ Rs.970 64120048
44 Number of imported mobile phones u/s 148 exceeding 350$ upto 500$ @ Rs.3000 64120049
45 Number of imported mobile phones u/s 148 exceeding 500$ @ Rs.50200 64120050
46 CNG Station Gas Bill u/s 234A 64130151
47 Fee for Goods Transport Contractor u/c (43E), Part IV Second Schedule 64320053
48 Fee for Carriage Services by Oil Tanker u/c (43D), Part IV Second Scheule 64320051
Sr. Description Code Receipts / Value Final Tax Chargeable Attributable Taxable Income Tax on Attributable Taxable Income Difference (Option Valid if <=0)
A B C D E
49 Export Proceeds u/s 154(1) @1% 64070054
50 Foreign Indenting Commission u/s 154(2) 64070151
51 Sale Proceeds of goods to exporter u/s 154(3) 64070152
52 Sale Proceeds of of goods by industrial undertaking u/s 154(3A) 64070153
53 Contract Payments to indirect exporter u/s 154(3B) 64070154
54 Export Proceeds u/s 154(3C) 64070155
55 Commission / Discount on petroleum products u/s 156A @12% 64090151

Signature:

Date:

Page 15

Annex-F
Personal Expenses
Name*
CNIC*
Tax Year 2021
NTN
Sr. Description Code Amount
Personal Expenses 1 Personal Expenses [Sum of 2 to 16 minus 17] 7089
Personal Expenses 2 Rent 7051
Personal Expenses 3 Rates / Taxes / Charge / Cess 7052
Personal Expenses 4 Vehicle Running / Maintenence 7055
Personal Expenses 5 Travelling 7056
Personal Expenses 6 Electricity 7058
Personal Expenses 7 Water 7059
Personal Expenses 8 Gas 7060
Personal Expenses 9 Telephone 7061
Personal Expenses 10 Asset Insurance / Security 7066
Personal Expenses 11 Medical 7070
Personal Expenses 12 Educational 7071
Personal Expenses 13 Club 7072
Personal Expenses 14 Functions / Gatherings 7073
Personal Expenses 15 Donation, Zakat, Annuity, Profit on Debt, Life Insurance Premium, etc. 7076
Personal Expenses 16 Other Personal / Household Expenses 7087
Personal Expenses 17 Contribution in Expenses by Family Members [Sum of 18 to 21] 7088
Sr. CNIC No. Name* Code Amount
18
19
20
21

Signature:

Date:

Page 16

WEALTH STATEMENT UNDER SECTION 116 OF THE INCOME TAX ORDINANCE, 2001 1/4
Name*
CNIC*
Residen
Busines
Tax Year 2021
NTN

Agricultural Property

Sr. Description Code Value at Cost
1 Agricultural Property [Sum of 1 i to 1 x] 7001
Sr. Form (Irrigated / Unirrigated / Uncultivable) Mauza / Village / Chak No. Tehsil District Area (Acre) Share % Code Value at Cost
i 7001
ii 7001
iii 7001
iv 7001
v 7001
vi 7001
vii 7001
viii 7001
ix 7001
x 7001
Sr. Description Code Value at Cost
2 Commercial, Industrial, Residential Property (Non-Business) [Sum of 2 i to 2 x] 7002
Sr. Form (House, Flat, Shop, Plaza, Factory, Workshop, etc.) Unit No. / Complex / Street / Block / Sector Area / Locality / Road City Area (Marla / sq. yd.) Share % Code Value at Cost
i 7002
ii 7002
iii 7002

Page 17

Residential, Commercial

Sr. Form (House, Flat, Shop, Plaza, Factory, Workshop, etc.) Unit No. / Complex / Street / Block / Sector Area / Locality / Road City Area (Marla / sq. yd.) Share % Code Value at Cost
iv 7002
v 7002
vi 7002
vii 7002
viii 7002
ix 7002
x 7002

Business Capital

Sr. Description Share % Code Value at Cost
3 Business Capital 7003
Enter name, share percentage & capital amount in each AOP Share % Code Value at Cost
i 7003
ii 7003
iii 7003
i Enter consolidated capital amount of all Sole Proprietorships 100% 7003

Equipment

Sr. Description Code Value at Cost
4 Equipment, etc. (Non-Business) [Sum of 4 i to 4 iv] 7004
i 7004
ii 7004
iii 7004
iv 7004

Signatures:

Date:

WEALTH STATEMENT UNDER SECTION 116 OF THE INCOME TAX ORDINANCE, 2001 2/4
Name*
CNIC*
Tax Year 2021
NTN

Page 18

Animal

Sr. Description Code Value at Cost
5 Animal (Non-Business) [Sum of 5 i to 5 iv] 7005
i Livestock 7005
ii Pet 7005
iii Unspecified 7005
iv Unspecified 7005

Investment

Sr. Description Code Value at Cost
6 Investment (Non-Business) [Sum of 6 i to 6 xiii] 7006
Sr. Form Account / Instrument No. Institution Name / Individual CNIC Share % Code Value at Cost
i Account 7006
Current 7006
Current 7006
Fixed Deposit 7006
Fixed Deposit 7006
Profit / Loss Sharing 7006
Profit / Loss Sharing 7006
Saving 7006
Saving 7006
ii Annuity 7006
iii Bond 7006
iv Certificate 7006
v Debenture 7006
vi Deposit 7006
Term Deposit 7006
Term Deposit 7006
vii Fund 7006
viii Instrument 7006
ix Insurance Policy 7006
x Security 7006

Page 19

Sr. Form Account / Instrument No. Institution Name / Individual CNIC Share % Code Value at Cost
xi Stock / Share 7006
xii Unit 7006
xiii Others 7006
Sr. Description Code Value at Cost
7 Debt (Non-Business) [Sum of 7 i to 7 vii] 7007
Sr. Form No. Institution Name / Individual CNIC Share % Code Value at Cost
i Advance 7007
ii Debt 7007
iii Deposit 7007
iv Prepayment 7007
v Receivable 7007
vi Security 7007
vii Others 7007

Motor Vehicle

Sr. Description Code Value at Cost
8 Motor Vehicle (Non-Business) [Sum of 8 i to 8 viii] 7008
Sr. Form (Car,Jeep,Motor Cycle,Scooter,Van) E&TD Registration No. Maker Capacity Code Value at Cost
i 7008
ii 7008
iii 7008
iv 7008
v 7008
vi 7008
vii 7008
viii 7008

Signatures:

Date:

Page 20

WEALTH STATEMENT UNDER SECTION 116 OF THE INCOME TAX ORDINANCE, 2001 3/4
Name*
CNIC*
Tax Year 2021
NTN

Precious Posession

Sr. Description Code Value at Cost
9 Precious Possession [Sum of 9 i to 9 iii] 7009
i Antique / Artifact 7009
ii Jewelry / Ornament / Metal / Stone 7009
iii Others (Specify) 7009

Household Effect

Sr. Description Code Value at Cost
10 Household Effect [Sum of 10 i to 10 iv] 7010
i Unspecified 7010
ii Unspecified 7010
iii Unspecified 7010
iv Unspecified 7010

Personal Item

Sr. Description Code Value at Cost
11 Personal Item [Sum of 11 i to 11 iv] * 7011
i Unspecified 7011
ii Unspecified 7011
iii Unspecified 7011
iv Unspecified 7011

Cash

Sr. Description Code Value at Cost
12 Cash (Non-business) [Sum of 12 i to 12 x] 7012
Notes & Coins 7012

Page 21

Any Other Asset

Sr. Description Code Value at Cost
13 Any Other Asset [Sum of 13 i to 13 iv] 7013
i 7013
ii 7013
iii 7013
iv 7013

Assets in Others' Name

Sr. Description Code Value at Cost
14 Assets in Others' Name [Sum of 14 i to 14 iv] 7014
i 7014
ii 7014
iii 7014
iv 7014
15 Total Assets inside Pakistan [Sum of 1 to 14] 7015

Assets outside Pakistan

Sr. Description Code Value at Cost
16 *Assets held outside Pakistan [Sum of 16 (i) to 16 (iv)] 7016
i 7016
ii 7016
iii 7016
iv 7016
17 Total Assets [15+16] 7019

* Serial # 16 has been separated from Any Other Assets at Serial # 13 for clarity.

Signatures:

Date:

Page 22

WEALTH STATEMENT UNDER SECTION 116 OF THE INCOME TAX ORDINANCE, 2001 4/4
Name*
CNIC*
Tax Year 2021
NTN

Loan

Sr. Description Code Value at Cost
18 Credit (Non-Business) [Sum of 18 (i) to 18 (viii)] 7021
Sr. Form Creditor's NTN / CNIC Creditor's Name Code Value at Cost
i Advance 7021
ii Borrowing 7021
iii Credit 7021
iv Loan 7021
v Mortgage 7021
vi Overdraft 7021
vii Payable 7021
viii Others 7021
Sr. Description Code Value at Cost
19 Total Liabilities 7029
20 Net Assets Current Year [17-19] 703001
21 Net Assets Previous Year 703002
22 Increase / Decrease in Assets [20-21] 703003
23 Inflows [Sum of 23 (i) to 23(x)] 7049
i Income declared as per Return for the year subject to normal tax 7031
ii Income declared as per Return for the year exempt from tax 7032
iii Income Attributable to Receipts, etc. Declared as per Return for the year subject to Final / Fixed Tax 7033
iv Adjustments in Income Declared as per Return for the year 7034

Page 23

Reconciliation of Net Assets

Sr. Description Code Value at Cost
vi Foreign Remittance 7035
vii Inheritance 7036
viii Gift 7037
ix Gain on Disposal of Assets, excluding Capital Gain on Immovable Property 7038
x Others 7048
24 Personal Expenses [Transfer from Sr.1 Annex-F] 7089
25 Outflows [Sum of 25 (i) to 25 (iii)] 7099
i Gift 7091
ii Loss on Disposal of Assets 7092
iii Others 7098
26 Unreconciled Amount [23-24-25] 703000

Disposed Assets

Sr. Description Code Value at Cost
27 Assets Transferred / Sold / Gifted / Donated during the year [Sum of 27 (i) to 27 (ii)] 703004
i 703004
ii 703004

Verification

I, ____________, CNIC No. ____________, in my capacity as Self / Representative (as defined in section 172 of the Income Tax Ordinance, 2001) of Taxpayer named above, do hereby solemnly declare that to the best of my knowledge & belief the information given in this statement of the assets & liabilities of myself, my spouse(s), minor children & other dependents as on 30.06.2021 & of my personal expenditure for the year ended 30.06.2021 are correct & complete in accordance with the provisions of the Income Tax Ordinance, 2001, Income Tax Rules, 2002.

Signatures:

Date:

".

Page 24

  1. This Notification shall be applicable for the tax year 2021.

[F. No. 1(29)R&S/2021]

(Tariq Iqbal)
Secretary (Rules & SROs)

Related Income Tax SROs on return forms

  • SRO 1073(I)/202127 August 2021Manual Income Tax Return Forms for Individual and AOPS for Tax Year 2021
  • SRO 853(I)/20211 July 2021Income Tax Return Forms for Salaried Persons, AOPs, Business Individual and Companies for Tax Year 2021
  • SRO 730(I)/202111 June 2021Draft Income Tax Return Forms for Salaried Persons, AOPs, Business Individual and Companies for Tax Year 2021draft
  • SRO 1316(I)/20209 December 2020Simplified Income Tax Return for manufacturers having turnover less than Rs. 500 millions
  • SRO 1261(I)/202026 November 2020Draft Simplified Income Tax Return for Manufacturers having turnover less than Rs. 50 millionsdraft
  • SRO 1185(I)/20206 November 2020Rules in respect of prescribing time limit for notifying Income Tax Return forms

All SROs on return forms

Report an error on this page