ISLAMABAD, July 30: The Central Board of Revenue on Friday issued a single page tax return form with separate annexes for each source of income to be effective from September 30, 2004.

The new return form comprised six basic forms for different types/categories of taxpayers in addition to 14 annexes for various types/nature of income, tax reductions and credits, special taxation and tax already paid, according to an income tax notification SRO 651 issued on Friday.

The new forms, statements and annexes are applicable for the tax year 2004, which will be due by September 30 and December 31, 2004 for non-corporate and corporate taxpayers, respectively.

Elaborating the main changes made in the draft return form at the recommendations of stakeholders, Habib Fakhrudin, member facilitation and tax education, told Dawn on Friday that the CBR had done away with the condition of filing of evidence of zakat and worker welfare fund deduction in return form.

A new annex in lieu of statement of final taxation for the taxpayers having both income subject to final taxation and other income has been included in the form. He said that a separate statement-cum-tax payment challan was introduced for retailers having annual turnover up to Rs5 million and opting for 0.75 per cent tax on their turnover.

The retailers have also been allowed to make adjustment of taxes already paid as advance tax and collection or deduction from electricity telephone and motor vehicles, etc. The member said that the annex II- B, income statement for companies had been improved and brought in line with the provision of the Companies Ordinance, 1984.

The condition of submitting evidence of tax collected/deducted from profit on debt, along with motor vehicle tax, bill for electricity consumption and telephone bills, etc., has been dispensed with.

Instead of this, the taxpayers have to provide the details of their bank account, registration number of the vehicles, consumer number of electricity and phone number, etc., where tax deduction was claimed, he added.

Mr Fakhrudin said employees having no other source of income, etc., but claiming refund for access deduction by the employer were now not required to file the attachment to the employer certificate.

Notice to the commissioner electing for separate tax treatment of retirement, benefits, arrears of salary and profit on debt relating to prior years has now been incorporated in the corresponding annex instead of filing a separate applications, he added.

He said that these forms were priced and would be shortly available in the market after private printing arrangements made by the respective regional commissioners as in the past.

Forms downloaded from the website of CBR (www.cbr.gov.pk) or photocopies thereof could also be used by the taxpayers. However, the taxpayers are advised to use legal size (8-1/2" x 14") clear white paper of at least 90 grams. The form of wealth statement applicable where income declared or last assessed was Rs500,000 or more remained unchanged, the member added.