ISLAMABAD, Sept 21: The Central Board of Revenue (CBR) has clarified that the income tax returns for the period ending June 30, 2002 are to be filed under the repealed Income Tax Ordinance 1979 on the old forms. An official statement issued by CBR on Saturday said that in case of existing taxpayers, wealth statement would accompany all returns of income where income declared was Rs200,000 or more.
Moreover, the new taxpayers were, however, required to file wealth statement irrespective of the quantum of income declared. According to the statement, the last date of filing of tax returns remained September 30. To facilitate the taxpayers, necessary arrangements have been made by the field offices to receive the returns and to render all possible assistance and guidance in this regard.
Clarification has been sought by the taxpayers regarding filing of Income Tax Returns for the year ending June 30, 2002 under the repealed Income Tax Ordinance, 1979 or the new income tax ordinance 2001. There was confusion also, regarding filling of Wealth Tax statement, along with Income Tax Return by the existing taxpayers, the statement added.