December 28, 2003	Sunday	Ziqa’ad 4, 1424

ISLAMABAD, Dec 27: The Central Board of Revenue (CBR) has decided to make a software for calculation of income tax payable for the salaried class.

Member Taxpayers’ education and facilitation Habib Fakhruddin told Dawn that the new software would be finalized by end-February 2004 as part of the restructuring of tax administration.

The Central Board of Revenue has already introduced a software called income tax assistant, which will assist in preparation of the return and calculation of income for all taxpayers except the salaried class. This will even calculate the admissible depreciation and business income attributable to receipts and sales subject to final taxation by way of deduction, collection at source.

The new software, the member said, would not only be helpful to the salaried class but would also facilitate tax consultants and practitioners as well.

He said it is a data feeding software that can generate computerized print-out of returns instead of manual ones. All the data will remain with the taxpayers and these computerized print-outs of the return only will have to be submitted at tax offices, the official added.

According to the member, it has no prerequisites or condition and is an open-ended programme.