RAWALPINDI, June 29: The income tax department has decided to accept the tax returns, filed before October 31, 2001 under the self assessment scheme (SAS) by the flood-affected businessmen of the city.

The income tax returns, filed through the Rawalpindi Chambers of Commerce and Industries (RCCI), will be accepted if it qualifies under the SAS and any element of gross under statement of income is not involved in these cases. But the department has not waived off the penalty on late filling of returns in the above cases.

The decision was taken at a meeting between officials of the income tax department and the RCCI regarding the traders, whose businesses had been ruined by the floods in July, 2001.

Appreciating the decision, the RCCI acting president, Hussain A. Ozgen, thanked the finance minister, Shaukat Aziz and officials of the Central Board of Revenue and income tax department.

He said the decision would help develop relations between the business community and the government.

The relief provided to the people would also build confidence of the city’s businessmen, he added.