THIS refers to the hue and cry being raised by tax authorities on the decline in the number of returns filed by NTN holders. One will appreciate that payment of tax and filing of returns are two different things.

Tax is being deducted at source on behalf of the employees by their employers, while tax on payment etc., made to suppliers or prize winners of prize bonds. Income paid on national savings instruments are deducted at source by the paying authorities and a return of such deductions submitted. Mostly retired people find it difficult to file returns. It was quite easy when they were in service as the office could take care of such routines.

The fact that they do not file returns does not necessarily mean that they are not paying taxes due on their investments as they are already deducted before any profit is paid to them.

Submission of returns is, therefore, not of any essence.

There was news report that FBR people are being authorised to look into the accounts of banks’s customers.

In fact, this cannot be done in the presence of an agile central bank. It will amount to infringement of the authority of the State Bank of Pakistan for the independence of which we are so much concerned.

IBNE ZAIN
Karachi

Opinion

Editorial

‘Source of terror’
Updated 29 Mar, 2024

‘Source of terror’

It is clear that going after militant groups inside Afghanistan unilaterally presents its own set of difficulties.
Chipping in
29 Mar, 2024

Chipping in

FEDERAL infrastructure development schemes are located in the provinces. Most such projects — for instance,...
Toxic emitters
29 Mar, 2024

Toxic emitters

IT is concerning to note that dozens of industries have been violating environmental laws in and around Islamabad....
Judiciary’s SOS
Updated 28 Mar, 2024

Judiciary’s SOS

The ball is now in CJP Isa’s court, and he will feel pressure to take action.
Data protection
28 Mar, 2024

Data protection

WHAT do we want? Data protection laws. When do we want them? Immediately. Without delay, if we are to prevent ...
Selling humans
28 Mar, 2024

Selling humans

HUMAN traders feed off economic distress; they peddle promises of a better life to the impoverished who, mired in...