The Federal Board of Revenue (FBR) has allowed individual traders to mention only Computerised National Identity Card number as income tax registration number on the new return form under the Voluntary Tax Compliance Scheme (VTCS). The FBR has issued return form for traders qualifying for the VTCS following signing of the Income Tax (Third Amendment) Act 2016 by the President here Monday. Following is the text of the return form for traders qualifying under the Voluntary Tax Compliance Scheme (VTCS) as per Income Tax (Third Amendment) Act 2016:

INSTRUCTIONS.

(i) Income Tax Return Form for taxpayer who has not filed return for any of the preceding ten tax years.

(ii) Individual shall mention CNIC only as income tax registration and attach copy of CNIC

(iii) AOP shall mention NTN instead of CNIC.

___________________________________________________________________________

"RETURN FOR TRADER QUALIFYING UNDER PART I OF THE

SCHEDULE FOR THE TAX YEARS 2015 TO 2018

Name of proprietor/Managing Member of AOP______________________________________

CNIC: (please attach copy of CNIC)_______________________________________________

Business (es) Name &Address(es) ________________________________________________

____________________________________________________________________________

Phone: ________________Email: ____________________Mobile: _____________________

Residential Address of the proprietor: _____________________________________

Name(s) and Residential address(es) of Members of AOP (if applicable) ____________________________________________________________________________________________________________________________________________________________________________________________________________________________________

(1) Amount of working capital ___________________________________________________

(2) Tax payable on (1) above (for tax year 2015 only)_________________________________

(3) Total Turnover ____________________________________________________________

(4) Tax payable on (3) above (for tax years 2016, 2017 and 2018 only)___________________

(5) Amount of Tax [(2) or (4) ] __________________________________________________

(6) CPR No:________________________________ Dated: ___________________________

Declaration:

I__________________________ CNIC No _____________________________ in my capacity as self/representative of taxpayer named above, do hereby solemnly declare that to the best of my knowledge and belief the information given in simplified return is correct and complete in accordance with the provisions of Part I of the Ninth Schedule to Income Tax Ordinance, 2001

Signature : _________________________

Date : ________________________"

Copyright Business Recorder, 2016