Return for traders for tax year 2024 and onwards who have not filed return for tax year 2023
SRO 1321(I)2024 is an Income Tax SRO dated 28 August 2024, listed by FBR as "Return for traders for tax year 2024 and onwards who have not filed return for tax year 2023".
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 28th August, 2024.
NOTIFICATION
S.R.O. 1321(I)/2024. - 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 under sub-section (3) of the said section 237, notice is hereby given that objections or suggestions thereon, if any, may be sent for the consideration of the Federal Board of Revenue within seven days of publication of the draft in the official Gazette. Any objection or suggestion which may be received in respect of the said draft, before the expiry of the aforesaid period, shall be considered by the Federal Board of Revenue.
DRAFT AMENDMENT
In the aforesaid Rules, in the Second Schedule, after Part-II-ZA, the following new Part- II-ZB shall be added, namely: -
"Part-II-ZB
Electronic return form for tax year 2024 and onwards for traders who were non-filers for tax year 2023
Page I
| Description | Description in Urdu | |
|---|---|---|
| (1) | (2) | (3) |
| A | Business Turnover/Receipts | [Urdu text] |
| B | Total trading purchases | [Urdu text] |
| C | Total other expenses | [Urdu text] |
| D A-(B+C) | Net Profit / Taxable Income | [Urdu text] |
| E | Income other than business | [Urdu text] |
Page 2
| Description | Description in Urdu | |
|---|---|---|
| E1 | Interest income | [Urdu text] |
| E2 | Rental income | [Urdu text] |
| [Urdu: Yes / No tick boxes] | [Urdu text] | |
| E4 | Any other income | [Urdu text] |
| E5 | Any agricultural or exempt income | [Urdu text] |
| Bank Account No. for refund | [Urdu text] |
Page II
| Tax paid during the year | [Urdu text] | |
|---|---|---|
| Total Adjustable Tax | [Urdu text] | |
| a | Profit on debt | [Urdu text] |
| b | Tax on Telephone / internet | [Urdu text] |
| c | Tax on Electricity | [Urdu text] |
| d | Tax collected from Distributors / Dealers / Wholesalers u/s 236G | [Urdu text] |
| e | Tax collected from Retailers u/s 236H | [Urdu text] |
| f | Purchase / Transfer of Immovable Property u/s 236K | [Urdu text] |
| g | Sale / Transfer of Immovable Property u/s 236C | [Urdu text] |
| h | Advance tax paid under the Tajir Dost Special Procedure, 2024 | [Urdu text] |
| i | Advance token tax on motor vehicle u/s 234 | [Urdu text] |
Page 3
| j | Advance tax on registration or transfer of vehicles u/s 231B | [Urdu text] |
| Assets | [Urdu text] | |
|---|---|---|
| i | Immovable property | [Urdu text] |
| ii | Movable property including business capital | [Urdu text] |
| iii | Total Assets | [Urdu text] |
| iv | Liabilities | [Urdu text] |
| v | Total personal expenses | [Urdu text] |
| vi | Net Assets current year | [Urdu text] |
| vii | Net Assets previous year | [Urdu text] |
| Tax on taxable income | [Urdu text] | |
| Final Tax | [Urdu text] | |
| Tax u/s 7E | [Urdu text] | |
| Tax already paid | [Urdu text] | |
| Payable tax or refund | [Urdu text] |
[F.No.1(2)R&S/2024-pt]
(Syed Mashkoor Ali)
Secretary (Income Tax Budget)
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