Explanatory notes for SRO 695(1)/2008 dated 26-06-2008
|1. This SRO has been issued to reduce the pressure from e-portal and also to provide reasonable time to the taxpayers to file their Income Tax withholding statements. Earlier to this there was a same date for e-filing of monthly return of Sales tax as well as Income Tax Withholding statement and it used to slow down the whole process on e-portal on the last dates. Through SRO No.353 dated 03-04-2008, the last date of filing of withholding statement was changed to 10th of each month. But it created problem for the taxpayers as the time available to file their Income Tax withholding statement was too short. Hence the present SRO has now prescribed the new date for filing withholding statement for Income Tax as 20th of each month. The change in date of Income Tax withholding statement will ease the pressure on e-portal facilitating the taxpayer.
2. A further change has been brought and now e-filing has been made mandatory for Non-Resident ship owner and air craft owner or Charterer thereof. Both these provisions will be applicable w.e.f 1st July, 2008.
Muhammad Hafeez Mughal
Jul 01, 2008