The Large Taxpayer Unit (LTU) is to introduce electronic filing system of income statements from July 1 to save time of the taxpayers and minimise their physical contact with the tax collectors.
This was stated by the Director General of LTU, Akhtar Jamil Khan, at a function held at the Income Tax building on Monday to educate the taxpayers on the new system.
He said that this was the second phase of computerisation, which is aimed at integrating various tax procedures.
The electronic filing of statements would ensure automatic credit to the taxpayer if he has correctly filed the challan.
The second phase of computerisation would ensure all procedures from filing of income tax returns to the release of Assessment Order would be completed through computers and there will be no contact between the taxpayers and tax collectors.
He said that the electronic filing of financial statements would save the taxpayers from manual submission of voluminous papers, carrying statement every month, quarter and on the yearly basis.
The electronic filing of income statements would replace a great deal of paper work done by the taxpayers.
Akhtar Jamil disclosed that at a later stage the electronic filing of tax returns would be introduced.
The Ministry of Law, which was to settle the legal position of the signature of the assessee, was presently discussing the issue, he added.
He said that the Central Board of Revenue (CBR) had also decided that all income tax returns, filed after July 1, must have the National Tax Number of the taxpayers. Arraignments had been made to issue the NTN card to the taxpayers on the sport, he added.
Akhtar Jamil said that all taxpayers would be properly educated about the new system and group training would be arranged for the taxpayers at the LTU office where they would be provided the CDs of the new software developed for the new system.
He said the first phase of computerisation of the income tax procedures was started in 1983-84, which was aimed at preparing tax collection figures for the government, and added the second phase, commencing from July 1, would be focussed on the assessees.
The LTU Director General said that the department had sent details of all payment made from July 1 to December 31, 2003 to the assessees.
He said the system of challans had also been greatly improved by cutting their number from eight different types of challans to only one.