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Wealth st. & returns submission date TY-2011
08-19-2011, 04:17 PM
Post: #1
Wealth st. & returns submission date TY-2011
Dear Sir/Madam

On FBR website it is notified that the last date of submission of return for Individuals & AOP is 30th September.

1.) I want to confirm that whether the returns and Wealth statements of directors should be submitted by 31st August or 30th september.

2.) Whether regular returns(U/S114) of Individuals be filed manually or electronically(e-filing).
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08-22-2011, 06:18 PM
Post: #2
 
<blockquote id="quote"><font size="1" face="Verdana, Arial, Helvetica, san" id="quote">quote<hr height="1" noshade id="quote"><i>Originally posted by daneyal13</i>
<br />Dear Sir/Madam

On FBR website it is notified that the last date of submission of return for Individuals & AOP is 31st September.

1.) I want to confirm that weather the returns and Wealth statements of directors should be submitted by 31st August or 31st september.

2.) Weather regular returns(U/S114) of Individuals be filed manually or electronically(e-filing).
<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">

If on FBR website it is written that last date of submission is 31st September, then you don't need to worry. BECAUSE 31st September will never come.

Anyway,
As far as wealth statement is concerned , it is to be submitted along with the return according s.116(2)

s.118 tells us when return is to be filed

According to this section all salaried persons who have to file return electronically shall have to file their return by 31st of August. Similarly employer also has to file Annual statement of deduction of tax by 31st of August

Now the question is who are those salaried persons who have to file return electronically?
According to proviso to subsection 1 of s.115, salaried persons deriving salary income exceeding 5 lac would have to file return electronically.

Further Rule 73 provides the persons who are required to file return electronically. As far as individuals are concerned only persons registered with sales tax and salaried persons with salary income exceeding 5 lac, are required to file return electronically.

If director is a salaried person (i.e. his salary is more that 50% of his total income) and his salary income is exceeding 5 lac then you will have to file his return by 31st of August.

I would like to share with you that general impression is that the where last date is 31st Aug , it will be extended. Last year also it was extended.
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09-08-2011, 05:58 PM
Post: #3
 
thanku sir , im highly obliged. yes the dates were extended. Yes sir i corrected the 31st sep mistake. thanku again. so nice of u.
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