Rules amended by FBR: Issued time limit for notifying income tax return form

Income-Tax-Return-Form-Notifying

Amendment of Rules

The FBR has issued draft rules for the purpose of setting timelines in respect of various steps involved in notifying income tax return forms for a tax year vide SRO 1041 dated 13 October.

In this regard, in Chapter VIII of the Rules, Rule 34A is proposed to be inserted. The proposed amendment has provided timelines for the revenue department, IT personnel and the taxpayers which aims to streamline the process of designing the tax return form and facilitate the taxpayers in tax return filing. Salient features of which are as under;

Timeline

► The return form shall be notified for suggestions from the likely affected person on or before 01 December of the financial year following the Finance Act to which the return relates. Suggested timeline of the process is tabulated below;

DescriptionTimelines
Identification of legal amendments in the return
form by Inland Revenue Policy Wing (IRP Wing).
By 31st August of the financial year
following the Finance Act to which
the return relates.
Finalization of Change Request Form (CRF) by IRP
Wing and Information Technology Wing (IT Wing)
in consultation with PRAL.
By 16th September of the financial
year following the Finance Act to
which the return relates.
Analysis of the CRF by the Chief Income Tax Policy
and Chief Business Domain Team and submission
to Member Inland Revenue Policy for approval.
By 31st October of the financial
year following the Finance Act to
which the return relates.
Finalization of User Acceptance Test (UAT) of the
amended return forms on testing environment by
IRP and IT Wing in consultation with PRAL.
By 15th November of the financial
year following the Finance Act to
which the return relates.
Availability of the return form on the portal for
suggestion from the likely affected persons.
Till 7th of January of financial year
following the Finance Act to which
the return relates.
Timeline
Benefits-Income-Tax-Return-Filing
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► The return form shall be notified on or before 31 January of the financial year following the Finance Act to which the return relates by observing the following timelines;

DescriptionTimelines
Review of the suggestion received from the
stakeholders by IRP and IT Wing.
By 12th December of the financial
year following the Finance Act to
which the return relates.
Finalization of new CRF by IRP and IT Wing in
consultation with PRAL.
By 10th January of the financial
year following the Finance Act to
which the return relates.
Configuration and development of the approved
CRF by PRAL.
By 15th January of the financial
year following the Finance Act to
which the return relates.
Finalization of UAT of the final return forms on
testing environment by IRP and IT Wing, in
consultation with PRAL.
By 18th January of the financial
year following the Finance Act to
which the return relates.
Availability of final income tax return form on
IRIS.
By 31th January of the financial
year following the Finance Act to
which the return relates.
Impact on final income tax returns forms of any
further amendments in the Finance Act.
By 07th July of the financial year
next following to which the return
relates.
Timeline

Extension of Timeline

► The suggested timelines may be extended by the Board upon the request of Member Inland Revenue Policy to such extent and subject to such conditions as it may deem appropriate.

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