Companies Return - tax year 2016
SRO 972(I)/2016Return forms
SRO 972(I)/2016 is an Income Tax SRO dated 17 October 2016, listed by FBR as "Companies Return - tax year 2016".
FBR publishes pages of this SRO as scanned images, so 5 of its 15 pages were transcribed by Qanoon Digest from the page images, with tables set out as tables. 1 scanned page has not been transcribed and is marked where it falls. Check the official PDF before relying on any wording or figure.
Page 1
GOVERNMENT OF PAKISTAN
REVENUE DIVISION
FEDERAL BOARD OF REVENUE
Islamabad, the 17th October, 2016.
NOTIFICATION
(Income Tax)
S.R.O.972(I)/2016. - In exercise of the powers conferred by sub-section (1) of section 237 of the Income Tax Ordinance, 2001 (XLIX of 2001), the Federal Board of Revenue is pleased to direct that the following further amendment shall be made in the Income Tax Rules, 2002, the same having been previously published vide Notification No. S.R.O. 839(I)/2016 dated the 9th September, 2016, as required by sub-section (3) of the said section, namely:-
In the aforesaid Rules, in the Second Schedule, after Part-II H, the following shall be added, namely:-
Page 3
Tabs: Data | Amortization | Depreciation | Minimum Tax | Option out of PTR | Bill | Payment | Attachment | Company Director | Attribute | Verification
Menu: Property; Business (Manufacturing / Trading Items; Other Revenues; Management, Administrative, Selling & Financial Expenses; Inadmissible / Admissible Deductions; Adjustments; Business Assets / Equity / Liabilities); Transactions > PKR 50 Million with Non-Residents; Capital Assets; Other Sources; Foreign Sources / Agriculture; Tax Chargeable / Payments
Business: Manufacturing / Trading Items
| Description | Code | Total Amount | Amount Exempt from Tax / Subject to Fixed / Final Tax | Amount Subject to Normal Tax | Action |
|---|---|---|---|---|---|
| Income / (Loss) from Business | 3000 | ||||
| Net Revenue (excluding Sales Tax, Federal Excise, Brokerage, Commission, Discount, Freight Outward) | 3029 | ||||
| Gross Revenue (excluding Sales Tax, Federal Excise) | 3009 | ||||
| Gross Domestic Sales / Services Fee | 3004 | ||||
| Gross Exports Sales / Services Fee | 3008 | ||||
| Selling Expenses (Freight Outward, Brokerage, Commission, Discount, etc.) | 3019 | ||||
| Domestic Commission / Brokerage / Discount / Freight Outward, etc. | 3011 | ||||
| Foreign Commission / Brokerage / Discount / Freight Outward, etc. | 3012 | ||||
| Rebates / Duty Drawbacks | 3070 | ||||
| Cost of Sales / Services | 3030 | ||||
| Opening Stock | 3039 | ||||
| Domestic Raw Material / Components Opening Balance | 3035 | ||||
| Import Raw Material / Components Opening Balance | 3036 | ||||
| Stores / Spares Opening Balance | 3037 | ||||
| Fuel Opening Balance | 3038 | ||||
| Work in Process Opening Balance | 3034 | ||||
| Self-Manufactured Finished Goods Opening Balance | 3033 | ||||
| Domestic Finished Goods Opening Balance | 3031 | ||||
| Import Finished Goods Opening Balance | 3032 | ||||
| Net Purchases (excluding Sales Tax, Federal Excise) | 3059 | ||||
| Net Domestic Purchases Raw Material / Components | 3055 | ||||
| Net Import Raw Material / Components | 3056 | ||||
| Net Stores / Spares Purchases | 3057 | ||||
| Net Fuel Purchases | 3058 | ||||
| Net Domestic Purchases Finished Goods | 3051 | ||||
| Net Import Finished Goods | 3052 | ||||
| Consumed | 3069 | ||||
| Domestic Raw Material / Components Consumed | 3065 | ||||
| Import Raw Material / Components Consumed | 3066 | ||||
| Stores / Spares Consumed | 3067 | ||||
| Fuel Consumed | 3068 | ||||
| Work in Process Consumed | 3064 | ||||
| Self-Manufactured Finished Goods Consumed | 3063 | ||||
| Domestic Finished Goods Consumed | 3061 | ||||
| Import Finished Goods Consumed | 3062 | ||||
| Direct Expenses | 3089 | ||||
| Salaries / Wages | 3071 | ||||
| Power | 3073 | ||||
| Gas | 3074 | ||||
| Repair / Maintenance | 3077 | ||||
| Insurance | 3080 | ||||
| Royalty | 3081 | ||||
| Fee for Technical Services | 3082 | ||||
| Other Direct Expenses | 3083 | ||||
| Accounting Amortization | 3087 | ||||
| Accounting Depreciation | 3088 | ||||
| Closing Stock | 3099 | ||||
| Domestic Raw Material / Components Closing Balance | 3095 | ||||
| Import Raw Material / Components Closing Balance | 3096 | ||||
| Stores / Spares Closing Balance | 3097 | ||||
| Fuel Closing Balance | 3098 | ||||
| Work in Process Closing Balance | 3094 | ||||
| Self-Manufactured Finished Goods Closing Balance | 3093 | ||||
| Domestic Finished Goods Closing Balance | 3091 | ||||
| Import Finished Goods Closing Balance | 3092 | ||||
| Gross Profit / (Loss) | 3100 |
Business: Other Revenues
| Description | Code | Total Amount | Amount Exempt from Tax / Subject to Fixed / Final Tax | Amount Subject to Normal Tax | Action |
|---|---|---|---|---|---|
| Other Revenues | 3129 | ||||
| Fee for Technical / Professional Services | 3101 | ||||
| Fee for Other Services | 3102 | ||||
| Profit on Debt | 3106 | ||||
| Royalty | 3107 | ||||
| License / Franchise Fee | 3108 | ||||
| Accounting Gain on Sale of Intangibles | 3115 | ||||
| Accounting Gain on Sale of Assets | 3116 | ||||
| Others | 3128 |
Page 10
Tabs: Data | Amortization | Depreciation | Minimum Tax | Option out of PTR | Bill | Payment | Attachment | Company Director | Attribute | Verification
Menu: Property; Business; Transactions > PKR 50 Million with Non-Residents; Capital Assets; Other Sources; Foreign Sources / Agriculture; Tax Chargeable / Payments (Deductible Allowances; Tax Credits; Adjustable Tax; Final / Fixed / Minimum / Average / Relevant / Reduced Tax; Computations)
Tax Chargeable / Payments: Adjustable Tax
| Description | Code | Receipts / Value | Tax Collected / Deducted | Tax Chargeable | Action |
|---|---|---|---|---|---|
| Adjustable Tax | 640000 | ||||
| Import u/s 148 @1% | 64010002 | ||||
| Import u/s 148 @2% | 64010004 | ||||
| Import u/s 148 @3% | 64010006 | ||||
| Import u/s 148 @4.5% | 64010009 | ||||
| Import u/s 148 @5.5% | 64010011 | ||||
| Import u/s 148 @6% | 64010012 | ||||
| Profit on Debt u/s 151 from NSC / PO Deposits | 64040001 | + | |||
| Profit on Debt u/s 151 from Bank Accounts / Deposits | 64040002 | + | |||
| Profit on Debt u/s 151 from Government Securities | 64040003 | + | |||
| Profit on Debt u/s 151 from Others | 64040004 | + | |||
| Payment for Goods, Services, Contracts, Rent, etc. to a Non-Resident u/s 152(2) | 64050007 | ||||
| Profit on Debt to a Non-Resident u/s 152(2) | 64050008 | + | |||
| Payment for Goods to a PE of a Non-Resident u/s 152(2A)(a) / Division II, Part III, 1st Schedule | 64050009 | ||||
| Payment for Transport Services to a PE of a Non-Resident u/s 152(2A)(b) / Division II, Part III, 1st Schedule | 64050010 | ||||
| Payment for Other Services to a PE of a Non-Resident u/s 152(2A)(b) / Division II, Part III, 1st Schedule | 64050011 | ||||
| Payment for Contracts to a PE of a Non-Resident u/s 152(2A)(c) / Division II, Part III, 1st Schedule | 64050012 | ||||
| Payment for Goods u/s 153(1)(a) @1% | 64060002 | ||||
| Payment for Goods u/s 153(1)(a) @1.5% | 64060003 | ||||
| Payment for Goods u/s 153(1)(a) @4% | 64060008 | ||||
| Payment for Services u/s 153(1)(b) @1% | 64060102 | ||||
| Payment for Services u/s 153(1)(b) @2% | 64060104 | ||||
| Payment for Services u/s 153(1)(b) @8% | 64060116 | ||||
| Payment for Services u/s 153(1)(b) @12% | 64060124 | ||||
| Rent of Property u/s 155 | 64080001 | + | |||
| Cash Withdrawal from Bank u/s 231A | 64100101 | + | |||
| Certain Banking Transactions u/s 231AA | 64100201 | + | |||
| Motor Vehicle Registration Fee u/s 231B(1) | 64100301 | + | |||
| Motor Vehicle Transfer Fee u/s 231B(2) | 64100302 | + | |||
| Motor Vehicle Sale u/s 231B(3) | 64100303 | + | |||
| Value of Shares traded through a member of a Stock exchange u/s 233A (1)(a) | 64120101 | ||||
| Value of Shares traded through a member of a Stock exchange u/s 233A (1)(b) | 64120102 | ||||
| Value of Shares traded by a member of a Stock exchange u/s 233A (1)(c) | 64120103 | ||||
| Margin Financing, Margin Trading or Securities Lending u/s 233AA | 64120201 | ||||
| Goods Transport Public Vehicle Tax u/s 234 | 64130001 | + | |||
| Passenger Transport Public Vehicle Tax u/s 234 | 64130002 | + | |||
| Private Vehicle Tax u/s 234 | 64130003 | + | |||
| Electricity Bill of Commercial Consumer u/s 235 | 64140001 | + | |||
| Electricity Bill of Industrial Consumer u/s 235 | 64140002 | + | |||
| Telephone Bill u/s 236(1)(a) | 64150001 | + | |||
| Cellphone Bill u/s 236(1)(a) | 64150002 | + | |||
| Prepaid Telephone Card u/s 236(1)(b) | 64150003 | + | |||
| Phone Unit u/s 236(1)(c) | 64150004 | + | |||
| Internet Bill u/s 236(1)(d) | 64150005 | + | |||
| Prepaid Internet Card u/s 236(1)(e) | 64150006 | + | |||
| Purchase by Auction u/s 236A | 64150101 | ||||
| Domestic Air Ticket Charges u/s 236B | 64150201 | ||||
| Sale / Transfer of Immovable Property u/s 236C | 64150301 | ||||
| Functions / Gatherings Charges u/s 236D | 64150401 | ||||
| Certification of Foreign-Produced TV Play Single u/s 236E | 64150501 | ||||
| Certification of Foreign-Produced TV Drama Serial u/s 236E | 64150502 | ||||
| Issuance of License to Cable Opeartors u/s 236F | 64150601 | ||||
| Renewal of License to Cable Opeartors u/s 236F | 64150602 | ||||
| Issuance of License to IPTV, FM Radio, MMDS, Mobile TV, Mobile Audio, Satellite TV Channel and Landing Rights u/s 236F | 64150603 | ||||
| Renewal of License to IPTV, FM Radio, MMDS, Mobile TV, Mobile Audio, Satellite TV Channel and Landing Rights u/s 236F | 64150604 | ||||
| Purchase of other commodities by Distributors / Dealers / Wholesalers u/s 236G | 64150701 | ||||
| Purchase of Fertilizer by Distributors / Dealers / Wholesalers u/s 236G | 64150702 | ||||
| Purchase by Retailers u/s 236H | 64150801 | ||||
| Issuance / Renewal of License to Dealers / Commission Agents / Arhatis u/s 236J | 64151001 | ||||
| Purchase / Transfer of Immovable Property u/s 236K | 64151101 | ||||
| Purchase of International Air Ticket u/s 236L | 64151201 | ||||
| Banking transactions otherwise than through cash u/s 236P | 64151501 | ||||
| Education related expenses remitted abroad u/s 236R | 64151701 | ||||
| Sale / Purchase of future commodity contracts u/s 236T | 64151901 |
Page 11
Tabs: Data | Amortization | Depreciation | Minimum Tax | Option out of PTR | Bill | Payment | Attachment | Company Director | Attribute | Verification
Menu: Property; Business; Transactions > PKR 50 Million with Non-Residents; Capital Assets; Other Sources; Foreign Sources / Agriculture; Tax Chargeable / Payments (Deductible Allowances; Tax Credits; Adjustable Tax; Final / Fixed / Minimum / Average / Relevant / Reduced Tax; Computations)
Tax Chargeable / Payments: Final / Fixed / Minimum / Average / Relevant / Reduced Tax
| Description | Code | Receipts / Value | Tax Collected / Deducted | Tax Chargeable | Action |
|---|---|---|---|---|---|
| Final / Fixed / Minimum / Average / Relevant / Reduced Tax | 640001 | ||||
| Import u/s 148 @1% | 64010052 | ||||
| Import u/s 148 @2% | 64010054 | ||||
| Import u/s 148 @3% | 64010056 | ||||
| Import u/s 148 @4.5% | 64010059 | ||||
| Import u/s 148 @5.5% | 64010061 | ||||
| Import u/s 148 @6% | 64010062 | ||||
| Import of Edible Oil u/s 148 @5.5% | 64010161 | ||||
| Import of Packing Material u/s 148 @5.5% | 64010181 | ||||
| Dividend u/s 150 @7.5% | 64030052 | ||||
| Dividend u/s 150 @10% | 64030053 | ||||
| Dividend u/s 150 @12.5% | 64030054 | ||||
| Dividend u/s 150 @20% | 64030057 | ||||
| Dividend u/s 150 @25% | 64030059 | ||||
| Dividend to a Non-Resident covered under ADTT u/s 150 / u/s 5 | 64030099 | ||||
| Royalty / Fee for Technical Services to a Non-Resident u/s 152(1) / Division IV, Part I, 1st Schedule | 64050051 | ||||
| Payment for Contracts for Construction, Assembly or Installation to a Non-Resident u/s 152(1A)(a) / Division II, Part III, 1st Schedule | 64050052 | ||||
| Payment for Services, Contracts to a Non-Resident u/s 152(1A)(b) / Division II, Part III, 1st Schedule | 64050053 | ||||
| Fee for Advertisement Services to a Non-Resident u/s 152(1A)(c) / Division II, Part III, 1st Schedule | 64050054 | ||||
| Insurance / Reinsurance Premium to a Non-Resident u/s 152(1AA) / Division II, Part III, 1st Schedule | 64050055 | ||||
| Fee for Advertisement Services to a Non-Resident u/s 152(1AAA) / Division II, Part III, 1st Schedule | 64050056 | ||||
| Profit on Debt u/s 152(2) / u/c (5A), Part II, 2nd Schedule | 64050096 | + | |||
| Royalty / Fee for Technical Services to a Non-Resident covered under ADTT | 64050097 | ||||
| Payment for Goods, Services, Contracts, Rent, Capital Gains, etc. to a Non-Resident covered under ADTT | 64050098 | ||||
| Payment for Goods u/s 153(1)(a) @1% | 64060052 | ||||
| Payment for Goods u/s 153(1)(a) @1.5% | 64060053 | ||||
| Payment for Goods u/s 153(1)(a) @4% | 64060058 | ||||
| Payment for Services u/s 153(1)(b) @1% | 64060152 | ||||
| Payment for Services u/s 153(1)(b) @2% | 64060154 | ||||
| Payment for Services u/s 153(1)(b) @8% | 64060166 | ||||
| Payment for Goods u/s 153(1)(b) @12% | 64060074 | ||||
| Receipts from Contracts u/s 153(1)(c) @7% | 64060264 | ||||
| Fee for Export related Services u/s 153(2) @1% | 64060352 | ||||
| Export Proceeds u/s 154(1) @1% | 64070054 | ||||
| Foreign Indenting Commission u/s 154(2) | 64070151 | ||||
| Sale Proceeds of goods to exporter u/s 154(3) | 64070152 | ||||
| Sale Proceeds of of goods by industrial undertaking u/s 154(3A) | 64070153 | ||||
| Contract Payments to indirect exporter u/s 154(3B) | 64070154 | ||||
| Export Proceeds u/s 154(3C) | 64070155 | ||||
| Prize on Prize Bond u/s 156 | 64090051 | ||||
| Winnings from Crossword Puzzle u/s 156 | 64090052 | ||||
| Winnings from Raffle u/s 156 | 64090053 | ||||
| Winnings from Lottery u/s 156 | 64090054 | ||||
| Winnings from Quiz u/s 156 | 64090055 | ||||
| Winnings from Sale Promotion u/s 156 | 64090056 | ||||
| Commission / Discount on petroleum products u/s 156A @12% | 64090151 | ||||
| Brokerage / Commission u/s 233 @10% | 64120070 | ||||
| Brokerage / Commission u/s 233 @12% | 64120074 | ||||
| CNG Station Gas Bill u/s 234A | 64130151 | ||||
| Issuance of Bonus Shares by Companies quoted on Stock Exchange u/s 236M | 64151351 | ||||
| Issuance of Bonus Shares by Companies not quoted on Stock Exchange u/s 236N | 64151451 | ||||
| Payment for use or right to use industrial, commercial and scientific equipment u/s 236Q (1) | 64151651 | ||||
| Rent of Machinery and equipment u/s 236Q (2) | 64151652 | ||||
| Dividend in specie u/s 236S | 64151801 | ||||
| Capital Gains on Immovable Property u/s 37(1A) @0% | 64220051 | ||||
| Capital Gains on Immovable Property u/s 37(1A) @5% | 64220053 | ||||
| Capital Gains on Immovable Property u/s 37(1A) @10% | 64220055 | ||||
| Capital Gains on Securities u/s 37A @0% | 64220151 | ||||
| Capital Gains on Securities u/s 37A @7.5% | 64220157 | ||||
| Capital Gains on Securities u/s 37A @12.5% | 64220155 | ||||
| Capital Gains on Securities u/s 37A @15% | 64220156 | ||||
| Capital Gains on Securities u/s 37A @ corporate tax rate | 64220199 | ||||
| Capital Gains on Securities u/r 6B, 4th Schedule @0% | 64220251 | ||||
| Capital Gains on Securities u/r 6B, 4th Schedule @7.5% | 64220254 | ||||
| Capital Gains on Securities u/r 6B, 4th Schedule @12.5% | 64220256 | ||||
| Capital Gains on Securities u/r 6B, 4th Schedule @15% | 64220257 | ||||
| Fee for Services outside Pakistan u/c (3), Part II, 2nd Schedule | 64310051 | ||||
| Receipts for Contracts outside Pakistan u/c (3), Part II, 2nd Schedule | 64310052 | ||||
| Purchase of Locally Produced Edible Oil u/c (13C), Part II, 2nd Schedule | 64310053 | ||||
| Fee for Carriage Services by Oil Tanker / Goods Transport Contractor u/c (43D) / (43E), Part IV, 2nd Schedule | 64320051 | ||||
| Income of Hajj Group Operators u/c (72A), Part IV, 2nd Schedule | 64320052 | ||||
| Receipts from Shipping Business of a resident person u/s 7A | 64310054 |
Page 15
- This notification shall be applicable for the tax year 2016.
[F.No.1(44)Rules&SROs/2016]
(Reema Masud)
Secretary (IT-Budget)
Related Income Tax SROs on return forms
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- SRO 792(I)/201625 August 2016Income Tax Returns for Individual/AOP for TY 2016
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