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Assessee means a person who is being assessed for the purpose of determining tax liability etc.

Deemed Assessee is a person who is deemed to be an assessee as per IT law and rules and who is now liable to file the tax return.

FILING OF ANNUAL INCOME TAX RETURN (AOP & Company)


After preparation and completion of annual income-tax return, it will be deposited along with a copy of tax payment challan, with the respective income tax department In the case of an AOP with a tax year ending any time between the first day of January and the thirtieth day of June, on or before the thirty first day of December next following the end of the tax year to which the return relates; or In any other case on or before of Sept 30th of the respective year. A detail of income tax offices in major cities is given in Annexure I. Acknowledgement on prescribed form will be taken from the income tax authority at the time of deposit of the said documents. Under section 165, an AOP has to provide the Income Tax authorities, a statement regarding payment of salary to its employees and tax deducted on there salaries, on a quarterly or six monthly basis. To file the income tax returns, a taxpayer needs to furnish the following documents to the income tax authorities: 1. Form of return of total income under Income Tax Ordinance, 2001 2. Tax payment challan (IT 31 A, B, C, D). 3. Statement U/S 115(4) - Statement of receipts / incomes subject to final taxation 4. Copies of: a) Audited financial statements (income statement and balance sheet) .along with auditors' and directors' reports thereon b) Charts of depreciation/amortization as admissible under the Income Tax Ordinance, 2001 5. Evidence of payment of Tax deducted/collected at source, Advance tax paid U/S 147, Expenditure on personal medical service, Zakat, Tax paid with return U/S 137 6. Photocopies of tax payment challans in case of adjustment of advanced taxes deducted under the Ordinance.

FILLING OF ANNUAL INCOME TAX RETURN; (Business Individuals)


After dully filling up of one pager annual income tax return along with annexure and a copy of tax payment challan, it will be deposited with the income tax department on or before September 30th of the respective year. Acknowledgement on prescribed form will be taken from the income tax authority at the time of deposit of the said documents.

Documents required to be attached with the return The following documents are required to be attached with the return. 1. Statement u/s 115(4) (if applicable), Statement of receipts/Incomes subject to final taxation. 2. Wealth Statement (if applicable). 3. Copies of a) Manufacturing/Trading Accounts and P & L Accounts. b) Receipts and expenditure Statement. c) Chart of depreciation/amortization as admissible under the Income Tax Ordinance, 2001 d) Balance Sheet. e) Copies of personal account(s) of proprietor/members 5) Application in prescribed form for income tax credit on foreign source income. 6) Detail of prior year refund adjustment claimed, if any. 7) Evidence of payment of a) Tax deducted/collected at source. b) Advance tax paid u/s 147. c) Tax paid with return u/s 137. d) Zakat. e) Expenditure on personal medical services. f) Donation/investments in shares etc (for tax credits). g) Any other exclusion from income, if any 8) In case of a new taxpayer (without a NTN) NTN Registration form. 9) Any other documents NOTE;- Any person who is not obliged to furnish a return for a tax year because all the persons income is subject to final taxation under sections 148, 5,6,7,148,154,156A or subsection (5) of section 234 shall furnish to the Commissioner under section 115 a statement showing such particulars relating to the persons income for the tax year in such form and verified in such manner as may be prescribed. An individual having only salary income is not required to file income statement, if his/her employer has filed the annual statement of income tax deducted from salary. FILLING OF WEALTH STATEMENT: Every new taxpayer and existing assesee having last declared or assessed income Rs. 500,000 or more will file wealth statement under section 116 along with the annual return. REVISED RETURN: Any person who after filing a return discovers any omission or wrong statement therein can furnish a revised return within five years of the date of filing the original return. DATE OF FILING OF RETURN: An individual can file an annual return on or before 30th Day of September next following the end of the tax year to which return relates. However Commissioner under section 119 against an

application can extend time for furnishing returns and other documents.