Draft Return Form for Tax Year 2014

GOVERNMENT OF PAKISTAN REVENUE DIVISION FEDERAL BOARD OF REVENUE **** Islamabad, the 1st July, 2014 NOTIFICATION (Income Tax) S.R.O. 618(I)/2014.- The following draft of certain further amendment in the Income Tax Rules, 2002, which the Federal Board of Revenue proposes to make in exercise of the powers conferred by sub-section (1) of section 237 of the Income Tax Ordinance, 2001 (XLIX of 2001), is hereby published for the information of all persons likely to be affected thereby and, as required by sub-section (3) of the said section, notice is hereby given that the draft will be taken into consideration by the Federal Board of Revenue after fifteen days of its publication in the official Gazette. Any objection or suggestion, which may be received from any person, in respect of the said draft, before the expiry of the aforesaid period, shall be considered by the Federal Board of Revenue, namely:- DRAFT AMENDMENT In the aforesaid Rules, in the Second Schedule, after Part-II D, the following shall be inserted, namely:-

PART-II E Instructions for Filling in Return Form 1 Individuals deriving income under the head Salary have to file one page IT-1A Form with Annex F only. Individuals deriving income under the head Salary, Property, Capital Gains and Other Sources (excluding Business) and 2 Income subject to fixed / final tax have to file two page Return in IT-1B Form with Annex F. 3 AOPs deriving income under any head other than business have to file two page IT-1C Form without any Annex. Individuals deriving income under the head business or falling under Final Tax Regime (FTR) such as Commercial Importers, Exporters, Contractors, etc. have to submit IT-2 Form with Annex-A, Annex-B and Annex-F. Annex C, Annex-D & Annex-E are required only where Depreciation / Amortization, Admissible / Inadmissible Deductions and 4 Minimum Tax Chargeable / Option for Normal Tax Regime instead of Final Tax Regime are involved. All Individuals, including members of AOPs or directors of companies, whose last declared or assessed income or the 5 declared income for the year is equal to or more than PKR 1,000,000 must file Wealth Statement. AOPs deriving income under the head business or falling under Final Tax Regime (FTR) such as Commercial Importers, Exporters, Contractors, etc. have to submit IT-2 Form with Annex-A and Annex-B. Remaining Annexes (C, D, E) are required only where Depreciation / Amortization and Admissible / Inadmissible Deductions and Minimum Tax Chargeable 6 / Option for Normal Tax Regime instead of Final Tax regime are involved. Taxpayers may file Return of Total Income / Statement of Final Taxation and Wealth Statement through the following modes: (a) Electronically at FBR Portal (https://e.fbr.gov.pk ) which is mandatory for all AOPs, Sales Tax Registered Persons, Refund Claimants and Salaried Persons having annual income of Rs. 500,000 or more. However, all others are also encouraged to file the returns electronically; and (b) Manually on paper at Taxpayer Facilitation Counter of the respective Regional Tax Office. Paper Return Form can be downloaded from FBR Website http://www.fbr.gov.pk. in the following two types: (i) Formulae Version in Excel Format; and 7 (ii) Plain Version in Excel Format. Taxpayers may seek guidance through the following modes: (a) 24-Hrs Help line 051 111-772-772 (b) Office Hours Helpline 0800 00 227, 051 111-227-227 (c) By visiting the nearest Taxpayer Facilitation Centre (TFC). List of TFCs can be downloaded from FBR website 12 at http://www.fbr.gov.pk Tax can be paid in any authorized brach of NBP and SBP at any time before filing of return. List of authorized braches of 16 NBP and SBP can be downloaded from http://www.fbr.gov.pk. Instructions for filling in Wealth Statement Form 1 If rows provided under any Head are inadequate, additional rows may be inserted. 2 All assets must be valued at cost. If an asset is acquired under a Hire Purchase Agreement, total price should be declared as asset under the appropriate 3 head and balance payable amount should be declared as liability. 4 If an exact figure can not be determined, an estimated figure may be declared. 5 If Wealth Statement is filed for the first time, separate Reconciliation Statement must be filed for each previous year. Business Capital at Sr. 4 should consist of the net balance of assets minus liabilities as per the Balance Sheet on the specified date, if such net amount is a credit balance. If the net balance is a debit balance, it should be declared as a 6 liability. 7 Agricultural Plant, Machinery, Equipment, Livestock, etc. at Sr. 5, must be detailed with description, for example, Assets created in the name of spouse(s), children & other dependents at Sr. 13 are to be declared only if acquired by 8 them with funds provided by you.

PART-II E RETURN OF TOTAL INCOME / STATEMENT OF FINAL TAXATION UNDER THE INCOME TAX ORDINANCE, 2001 (IT-1A) (FOR INDIVIDUAL, DERIVING INCOME UNDER ANY HEAD OTHER THAN BUSINESS) Name Tax Year 2014 Resident □ CNIC NTN Non-Resident□ Total Sr. Description Code Amount Exempt Amount Taxable Amount A B C 1 Total Income [2] 2 Income from Salary [3+4+5] Computation 3 Pay 4 Allowances (including Flying / Submarine Allowance exceeding annual pay) Income 5 Value of Perquisites (excluding transport monetization for Civil Servants) 6 Deductible Allowances [7+8] Taxable 7 Zakat / 8 Charitable donations admissible as straight deduction Total 9 Taxable Income [1-6] 10 Tax Chargeable at Standard Rate Compu 11 Tax Reductions / Credits / Averaging Tax 12 Full Time Teacher's / Researcher's Rebate Tax Collected / Code Receipts / Value Deducted Tax Chargeable Tax 13 Tax Chargeable at Special Rate [Sum of 14 to 18] Final 14 ProfitFlyingon/ SubmarineDebt u/s 151Allowance@10% (not exceeding annual pay) u/c (1), / 15 Part III, Second Schedule @2.5% 16 Transport Monetization for Civil Servants u/c (27), Part II, @5% Fixed 17 Employment Termination Benefits u/s 12(6) 18 Arrears of Salary u/s 12(7) 19 Tax Chargeable [10-11-12+13] 20 Total Tax Payments [Sum of 21 to 33] 21 From Salary u/s 149 22 On Withdrawal from Pension Fund u/s 156B 23 On Certain Baking Transactions u/s 231AA 24 On Purchase of Domestic Air Ticket u/s 236B 25 On Sale / Transfer of Immovable Property u/s 236C 26 On Functions / Gatherings u/s 236D 27 On Fee to Educational Institutions u/s 236I 28 On Profit on Debt u/s 151 Opening / Account / Instrument No. Acquisition * Insert more rows if required Bank / Branch Product Currency Date 29 On Cash Withdrawal from Bank u/s 231A Payments Account No. * Insert more rows if required Bank / Branch Product Currency Opening Date Tax 30 With Motor Vehicle Registration Fee u/s 231B E&TD Registration No. Engine Registration * Insert more rows if required Maker Model No. Chasis No. Capacity Date 31 With Motor Vehicle Tax (other than Goods Transport Vehicles) u/s 234 E&TD Registration No. Engine Registration * Insert more rows if required Maker Model No. Chasis No. Capacity Date 32 With Telephone Bills, Mobile Bills and Pre-paid Cards u/s 236 Tel / Cell Number Provider Connecti * Insert more rows if required (TELCO) Tariff on Date 33 Tax paid with Return u/s 137(1) CPR No. 34 Tax Refundable [19-20 if <0] 35 Tax Payable [19-20 if >=0] 36 Prior years Refund Adjustments (not exceeding tax payable) I, ____________________________________, CNIC No.___________________________, in my capacity as Self/ Partner or Member of Association of Persons/ Representative (as defined in section 172 of the Income Tax Ordinance, 2001) of Taxpayer named above, do solemnly declare that to the best of my knowledge and belief the information given in this Return / Statement u/s 115(4) and the attached Annex(es), Statement(s), Document(s) or Detail(s) is/are correct and complete in accordance with the provisions of the Income Tax Verification Ordinance, 2001 and Income Tax Rules, 2002 (The alternatives in the verification, which is not applicable, should be scored out). Signature: Date:

PART-II E RETURN OF TOTAL INCOME / STATEMENT OF FINAL TAXATION UNDER THE INCOME TAX ORDINANCE, 2001 (IT-1B) 1/2 (FOR INDIVIDUAL, DERIVING INCOME UNDER ANY HEAD OTHER THAN BUSINESS) Name Tax Year 2014 Resident □ CNIC NTN Non-Resident□ Sr. Description Code Total Amount Exempt Amount Taxable Amount 1 Total Income [2+6+15 if >0+16 if >0+17+18+19] 2 Income from Salary [3+4+5] 3 Pay 4 Allowances (including Flying / Submarine Allowance exceeding annual pay) 5 Value of Perquisites (excluding transport monetization for Civil Servants) 6 Income / (Loss) from Property [7+8+9+10] - [11+12+13+14] 7 Rent received or receivable 8 1/10th of amount not adjustable against rent 9 Forfeited deposit under a contract for the sale of property 10 Unpaid liabilities / recovered rent Computation 11 Repairs allowance [7+8+9*20%] 12 Insurance premium Income 13 Local rate, tax, charge or cess 14 Other deductions against rent u/s 15A Taxable / 15 Capital Gains / (Loss) Total 16 Income / (Loss) from Other Sources 17 Foreign Income 18 Share in Income of AOP 19 Agriculture Income 20 Deductible Allowances [21+22] 21 Zakat 22 Charitable donations admissible as straight deduction 23 Taxable Income / (Loss) [1-19-20] 24 Tax Chargeable at Standard Rate Compu 25 Tax Reductions / Credits / Averaging Tax 26 Full Time Teacher's / Researcher's Rebate Tax Collected / Code Receipts / Value Deducted Tax Chargeable 27 Tax Chargeable at Special Rate [Sum of 28 to 41] 0792200 28 Dividend u/s 150 @10% 29 Dividend u/s 150 @7.5% 30 Profit on Debt u/s 151 @10% 31 Prizes on prize bonds / Winnings of crossword puzzles u/s 156 @15% 32 Prizes / Winnings - Others u/s 156 @20% Tax 33 Capital gains on Securities held for <6 months u/s 37A @10% Capital gains on Securities held for >=6 & <12 months u/s 37A Final / 34 @8% 35 Capital gains on Securities held for >=12 months u/s 37A @0% Fixed Capital gains on immovable property held for <=1 year u/s 37(1A) 36 @10% Capital gains on immovable property held for >1 & <=2 year u/s 37 37(1A) @5% Flying / Submarine Allowance (not exceeding annual pay) u/c (1), 38 Part III, Second Schedule @2.5% 39 Monetization of Transport for Civil Servants u/c (27), Part II, @5% 40 Employment Termination Benefits u/s 12(6) 41 Arrears of Salary u/s 12(7) 42 Tax Chargeable [24-25-26+27] Signature: Date:

RETURN OF TOTAL INCOME / STATEMENT OF FINAL TAXATION UNDER THE INCOME TAX ORDINANCE, 2001 (IT-1B) 2/2 (FOR INDIVIDUAL, DERIVING INCOME UNDER ANY HEAD OTHER THAN BUSINESS) Name Tax Year Tax Year 2014 CNIC NTN NTN 43 Total Tax Payments [Sum of 44 to 60] 44 From Salary u/s 149 45 On Dividend u/s 150 46 On Government Securities u/s 151 47 On Rent of Property u/s 155 48 On Withdrawal from Pension Fund u/s 156B 49 On Certain Baking Transactions u/s 231AA 50 On Purchase of Domestic Air Ticket u/s 236B 51 On Sale / Transfer of Immovable Property u/s 236C 52 On Functions / Gatherings u/s 236D 53 On Fee to Educational Institutions u/s 236I 54 On Profit on Debt u/s 151 Account / Instrument No. Opening / Payments 55 On* InsertCash moreWithdrawalrows iffromrequiredBank u/sBank231A/ Branch Product Currency Acquisition Account No. Tax * Insert more rows if required Bank / Branch Product Currency Opening Date 56 With Motor Vehicle Registration Fee u/s 231B E&TD Registration No. Engine Registration * Insert more rows if required Maker Model No. Chasis No. Capacity Date 57 With Motor Vehicle Tax (other than Goods Transport Vehicles) u/s 234 E&TD Registration No. Engine Registration * Insert more rows if required Maker Model No. Chasis No. Capacity Date 58 With Telephone Bills, Mobile Bills and Pre-paid Cards u/s 236 Tel / Cell Number Provider Connecti * Insert more rows if required (TELCO) Tariff on Date 59 Tax paid in Advance u/s 147(1) 60 Tax paid with Return u/s 137(1) CPR No. 61 Tax Refundable [42-43 if <0] 62 Tax Payable [42-43 if >=0] 63 Prior years Refund Adjustments (not exceeding tax payable) I, ____________________________________, CNIC No.___________________________, in my capacity as Self/ Partner or Member of Association of Persons/ Representative (as defined in section 172 of the Income Tax Ordinance, 2001) of Taxpayer named above, do solemnly declare that to the best of my knowledge and belief the information given in this Return / Statement u/s 115(4) and the attached Annex(es), Statement(s), Document(s) or Detail(s) is/are correct and complete in accordance with the provisions of the Income Tax Verification Ordinance, 2001 and Income Tax Rules, 2002 (The alternatives in the verification, which is not applicable, should be scored out). Signature: Date:

PART-II E RETURN OF TOTAL INCOME / STATEMENT OF FINAL TAXATION UNDER THE INCOME TAX ORDINANCE, 2001 (IT-1C) 1/2 (FOR AOP, DERIVING INCOME UNDER ANY HEAD OTHER THAN BUSINESS) Name Tax Year 2014 Resident □ CNIC NTN Non-Resident□ Total Sr. Description Code Amount Exempt Amount Taxable Amount A B C 1 Total Income [2+11 if >0+12 if >0+13+14] 2 Income / (Loss) from Property [3+4+5+6] - [7+8+9+10] 3 Rent received or receivable 4 1/10th of amount not adjustable against rent 5 Forfeited deposit under a contract for the sale of property 6 Unpaid liabilities / recovered rent 7 Repairs allowance [3+4+5*20%] Computation 8 Insurance premium 9 Local rate, tax, charge or cess Income 10 Other deductions against rent u/s 15A 11 Capital Gains / (Loss) Taxable/ 12 Income / (Loss) from Other Sources Total 13 Foreign Income 14 Agriculture Income 15 Deductible Allowances [16+17] 16 Zakat 17 Charitable donations admissible as straight deduction 18 Taxable Income / (Loss) [1-14-15] 19 Tax Chargeable at Standard Rate 20 Tax Reductions / Credits / Averaging Tax Collected / Code Receipts / Value Tax Chargeable Deducted 21 Tax Chargeable at Special Rate [Sum of 22 to 31] 22 Dividend u/s 150 @10% 23 Dividend u/s 150 @7.5% Tax 24 Profit on Debt u/s 151 @10% Final 25 Prizes on prize bonds / Winnings of crossword puzzles u/s 156 @15%/ 26 Prizes / Winnings - Others u/s 156 @20% 27 Capital gains on Securities held for < 6 months u/s 37A @10% Fixed Capital gains on Securities held for >=6 & <12 months u/s 37A 28 @8% 29 Capital gains on Securities held for >=12 months u/s 37A @0% Capital gains on immovable property held for <=1 year u/s 37(1A) 30 @10% Capital gains on immovable property held for >1 & <=2 year u/s 31 37(1A) @5% 32 Tax Chargeable [19-20+21] Signature: Date:

RETURN OF TOTAL INCOME / STATEMENT OF FINAL TAXATION UNDER THE INCOME TAX ORDINANCE, 2001 (IT-1C) 2/2 (FOR AOP, DERIVING INCOME UNDER ANY HEAD OTHER THAN BUSINESS) Name Tax Year 2014 CNIC NTN 33 Total Tax Payments [Sum of 34 to 37] 34 On Dividend u/s 150 35 On Government Securities u/s 151 36 On Rent of Property u/s 155 37 On Certain Baking Transactions u/s 231AA 38 On Purchase of Domestic Air Ticket u/s 236B 39 On Sale / Transfer of Immovable Property u/s 236C 40 On Functions / Gatherings u/s 236D 41 On Profit on Debt u/s 151 Account / Instrument No. Opening / * Insert more rows if required Bank / Branch Product Currency Acquisition 42 On Cash Withdrawal from Bank u/s 231A Account No. Payments * Insert more rows if required Bank / Branch Product Currency Opening Date Tax 43 With Motor Vehicle Registration Fee u/s 231B E&TD Registration No. Engine Registration * Insert more rows if required Maker Model No. Chasis No. Capacity Date 44 With Motor Vehicle Tax (other than Goods Transport Vehicles) u/s 234 E&TD Registration No. Engine Registration * Insert more rows if required Maker Model No. Chasis No. Capacity Date 45 With Telephone Bills, Mobile Bills and Pre-paid Cards u/s 236 Tel / Cell Number Provider Connecti * Insert more rows if required (TELCO) Tariff on Date 46 Advance Tax u/s 147(1) 47 Tax paid with Return u/s 137(1) CPR No. 48 Tax Refundable [32-33 if <0] 49 Tax Payable [32-33 if >=0] 50 Prior years Refund Adjustments (not exceeding tax payable) I, ____________________________________, CNIC No.___________________________, in my capacity as Self/ Partner or Member of Association of Persons/ Representative (as defined in section 172 of the Income Tax Ordinance, 2001) of Taxpayer named above, do solemnly declare that to the best of my knowledge and belief the information given in this Return / Statement u/s 115(4) and the attached Annex(es), Statement(s), Document(s) or Detail(s) is/are correct and complete in accordance with the provisions of the Income Tax Verification Ordinance, 2001 and Income Tax Rules, 2002 (The alternatives in the verification, which is not applicable, should be scored out). Signature: Date:

PART-II E RETURN OF TOTAL INCOME / STATEMENT OF FINAL TAXATION UNDER THE INCOME TAX ORDINANCE, 2001 (IT-2) 1/2 FOR INDIVIDUAL/AOP DERIVING INCOME UNDER THE HEAD BUSINESS AND ANY OTHER HEAD Name Tax Year 2014 IND □ Resident □ CNIC NTN AOP □ Non-Resident□ Sr. Description Code Total Amount Exempt Amount Taxable Amount A B C 1 Total Income [2+3+((12+13+14+15+16)if>0))+17] 2 Income from Salary Income / (Loss) from Property [4+5+6+7] - 3 [8+9+10+11] 4 Rent 5 1/10th of amount not adjustable against rent Forfeited deposit under a contract for sale of 6 property 7 Unpaid liabilities / recovered rent 8 Repairs allowance [(4+5+6)*20%] Computation 9 Insurance premium on property 10 Local rate, tax, charge or cess Income 11 Other deductions u/s 15A Income / (Loss) from Business (Transfer from Sr. 12 43 of Annex-B) Taxable / 13 Capital Gains / (Loss) Total 14 Income / (Loss) from Other Sources 15 Foreign Income 16 Share in Income of AOP 17 Agriculture Income 18 Deductible Allowances [19+20+21] 19 Zakat 20 Workers Welfare Fund 21 Charitable donations as straight deduction 22 Taxable Income / (Loss) [1-17-18] 23 Tax Chargeable at Standard Rate 24 Tax Reductions / Credits / Averaging 25 Net Tax Chargeable at Standard Rate [23-24] Minimum Tax Chargeable u/s 148(8) / 153(3)(b) / 26 235(4) [Transfer from Sr.14 of Annex-E] Minimum Tax Chargeable u/s 113 27 @1%,@0.5%,@0.2%,@0.1% 28 Minimum Tax Chargeable on Elec. Bills u/s 235 Tax Chargeable [25+26] or 27 or 28, whichever 29 is highest] Computation Tax 30 Full Time Teacher's / Researcher's Rebate 31 Net Tax Chargeable [29-30+Sr. 75 Col.B] Total Tax Payments (Transfer from Sr. 45 of Annex- 32 A+Sr.75 Col.C of Return) 33 Tax Refundable [31-32 if <0] 34 Tax Payable [31-32 if >=0] 35 Prior Years Refund Adjustments [= 34] I, ____________________________________, CNIC No.___________________________, in my capacity as Self/ Partner or Member of Association of Persons/ Representative (as defined in section 172 of the Income Tax Ordinance, 2001) of Taxpayer named above, do solemnly declare that to the best of my knowledge and belief the information Verification given in this Return / Statement u/s 115(4) are correct and complete in accordance with the provisions of the Income Tax Ordinance, 2001 and Income Tax Rules, 2002 (The alternatives in the verification, which is not applicable, should be scored out). Signature: Date:

RETURN OF TOTAL INCOME / STATEMENT OF FINAL TAXATION UNDER THE INCOME TAX ORDINANCE, 2001 (IT-2) 2/2 FOR INDIVIDUAL/AOP DERIVING INCOME UNDER THE HEAD BUSINESS AND ANY OTHER HEAD Name Tax Year 2014 CNIC NTN Tax Collected / Sr. Description Code Receipts / Value Tax Chargeable Deducted A B C Capital Gains on Securities held for >=6 & <12 36 months u/s 37A @8% Capital Gains on Securities held for >=12 months 37 u/s 37A @0% Capital Gains on immovable property held for <=1 38 year u/s 37(1A) @10% Capital Gains on immovable property held for >1 & <=2 39 years u/s 37(1A) @5% Capital Gains on immovable property held for >2 40 years u/s 37(1A) @0% Purchase of locally produced edible oil u/c (13C), Tax 41 Part II, Sec Sch. @2% Flying / Submarine Allowance (not exceeding 42 annual pay) u/c (1), Part III, Second Schedule Fixed Monetization of Transport for Civil Servants u/c 43 (27), Part II, Sec Sch. @5% Services rendered / construction contracts 44 executed outside Pakistan u/c (3) & (3A), Part II, Fee for Carriage Services (Oil Tanker Contractor) 45 u/c (43D), Part IV, Second Schedule @2.5% Income of Hajj Group Operators u/c (72A), Part IV, 46 Second Sch. @5000 47 Employment Termination Benefits u/s 12(6) 48 Arrears of Salary u/s 12(7) 49 Imports u/s 148 @5.5% 50 Imports u/s 148 @3% 51 Imports u/s 148 @2% 52 Imports u/s 148 @1% 53 Dividend u/s 150 @10% 54 Dividend u/s 150 @7.5% 55 Profit on Debt u/s 151 @10% Royalties / Fee for Technical Services (Non- 56 Resident) u/s 152(1) @15% Royalties / Fee for Technical Services (Non- 57 Resident) u/s 152(1) ADDT Payments for Contracts / Services (Non-Resident) 58 u/s 152(1A) @6% Insurance Premium (Non-Resident) u/s 152(1AA) 59 @5% 60 Sales of Goods u/s 153(1)(a) @4% Tax Sales of Goods (rice, cotton seed or edible oils) u/s Final 61 153(1)(a) @1.5% 62 Sales of Goods u/s 153(1)(a) @1% 63 Receipts from Contracts u/s 153(1)(c) @6.5% 64 Fee for export-related Services u/s 153(2) @0.5% 65 66 Export Proceeds u/s 154 @1% 67 Foreign Indenting Commission u/s 154(2) @5% Prizes on prize bonds / Winnings of crossword 68 puzzles u/s 156 @15% 69 Prizes / Winnings - Others u/s 156 @20% 70 Petroleum Commission/Discount u/s 156A @10% 71 Brokerage / Commission u/s 233 @10% 72 Advertising Commission u/s 233 @5% 73 Gas consumption (CNG Station) u/s 234A @4% Capital Gains on Securities held for <6 months u/s 74 37A @10% 75 Final / Fixed Tax Chargeable [Sum of 36 to 74] Signature: Date:

PART-II E Annex - A Tax Paid (Only adjustable tax, other than tax deduction treated as final tax) Name Tax Year 2014 CNIC NTN Sr. Description Code Amount 1 On Imports u/s 148 2 From Salary u/s 149 5 On Fee for Advertisement Services (Non-Resident) u/s 152(1AAA) 6 On Payments - Others (Non-resident) u/s 152 (2) 7 On Payments for Goods, Services or Contracts (PE of Non-resident) u/s 152 (2A) 8 On Paymentss for Goods u/s 153(1)(a) 9 On Paymentss for Services u/s 153(1)(b) 10 On Paymentss for Contracts u/s 153(1)(c) 11 On Export Proceeds u/s 154 12 On Rent of Property u/s 155 13 On Withdrawal from Pension Fund u/s 156B 14 On Certain Baking Transactions u/s 231AA 15 On Sale / PurchaseTrading of Shares u/s 233A 16 On Margin Financing, Margin Trading or Securities Lending u/s 233AA 17 On Sale by Auction u/s 236A 18 On Purchase of Domestic Air Ticket u/s 236B 19 On Sale / Transfer of Immovable Property u/s 236C 20 On Functions / Gatherings u/s 236D 21 On Certification of Foreign-produced TV PlaysSerials u/s 236E only) Tax 22 On Issue / Renewal of License to Cable Operators / Electronic Media u/s 236F 23 On Sale to Distributors / Dealers / Wholesellers u/s 236G 24 On Sale to Retailers u/s 236H 25 On Fee to Educational Institutions u/s 236I (Adjustable Source 2628 OnOn IssueCash Withdrawal/ Renewal offromLicenseBanktou/sDealersCommission231A AgentsArhatis u/s 236J at Account No. Bank / Branch Product Currency Opening Date 29 With Motor Vehicle Registration Fee u/s 231B Collected/Deducted E&TD Registration Tax No. Maker Model Engine No. Chasis No. 30 With Motor Vehicle Tax u/s 234 E&TD Registration No. Maker Model Engine No. Chasis No. 31 With Electricity Bill u/s 235 Reference / Consumer No. Provider (DISCO) Tariff Connection Date 32 With Telephone Bills, Mobile Bills and Pre-paid Cards u/s 236 Tel / Cell Number Provider (TELCO) Tariff Connection Date 33 Total adjustable tax deductions at source [Sum of 1 to 25] 34 Advance Tax u/s 147(1) [Sum of 36 to 39] 35 First installment CPR No. 36 Second installment CPR No. Payments 37 Third installment CPR No. Tax 38 Fourth installment CPR No. 44 Admitted Tax u/s 137(1) CPR No. 45 Total Tax Payments [Sum of 1 to 44] (Transfer to Sr. 31 of Return) 46 WWF paid with Return CPR No. Signature: Date:

PART-II E Annex - B Manufacturing / Trading / Profit & Loss Account ( including Revenues subject to Final / Fixed Tax) (Separate form should be filled for each business) Name Tax Year 2014 CNIC NTN Business Name Amount Amount Subject to Final Subject to Sr. Description Code Taxable Amount Taxation Normal Taxation A B C Total Revenue (excluding Sales Tax, Federal Excise, Brokerage, 1 Commission, Discount) [2+3] Sales (excluding Sales Tax, Federal Excise, Brokerage, Commission, Tax 2 Discount) 3 Fee for Services 4 Selling expenses (Freight outward, etc.) 5 Cost of Sales [sum of 6 to 16] - 17 Final/Fixed 6 Opening Stock 7 Net Purchases (excluding Sales Tax, Federal Excise) including 8 Wages 9 Power Account 10 Gas 11 Stores / Spares 12 Repair / Maintenance 13 Other Expenses 14 Packing Material imported u/s 148(8) 15 Accounting Depreciation Manufacturing/Trading 16 Accounting Amortization 17 Closing Stock 18 Gross Profit / (Loss) [1-4-5] 19 Other Revenues 20 Profit & Loss Account Expenses [Sum of 21 to 38] 21 Rent 22 Rates / Taxes / Cess 23 Salaries / Wages / Perquisites / Benefits 24 Traveling / Conveyance / Vehicles Running / Maintenance 25 Electricity / Water / Gas 26 Communication 27 Repair / Maintenance Expenses 28 Stationery / Printing / Photocopies / Office Supplies 29 Advertisement / Publicity / Promotion Account 30 Insurance Loss 31 Professional Charges & 32 Profit on debt (Financial Charges / Markup / Interest) Profit 33 Commission / Brokerage 34 Irrecoverable Debts written off 35 Obsolete Stocks / Stores / Spares / Fixed Assets written off 36 Others 37 Accounting Depreciation 38 Accounting Amortization 39 Accounting Net Income / (Loss) from Business [18+19-20] 40 Inadmissible Deductions (Transfer from Sr. 9 of Annex-D) 41 Admissible Deductions (Transfer from Sr. 1 of Annex-D) Unadjusted Loss from business for previous year(s) (Transfer from 42 Sr. 31 of Annex-C) Adjustments Unabsorbed Amortization, Depreciation, etc. (Transfer from Sr. 36 43 of Annex-C) Income / (Loss) from Business [39+40-41-42-43] (Transfer to 44 Sr. 12 of Return) Signature: Date:

PART-II E Annex - C Depreciation, Initial Allowance and Amortization Name Tax Year 2014 CNIC NTN Sr. Description Code WDV (BF) Deletions Additions Initial Allowance Rate Extent Depreciation WDV (CF) Used Used Previously in Previ Amount Amount New Pakistan New ously Amount % % Amount Amount 1 Building (all types) 25% 0% 10% Machinery / plant (not otherwise 2 specified) 25% 0% 15% Computer hardware / allied items & 3 Machinery / equipment used in 25% 0% 30% 4 Furniture / fittings 0% 0% 15% 5 Technical / professional books 25% 0% 15% Below ground installations of mineral 6 oil concerns 25% 0% 100% Off shore installations of mineral oil Assets 78 concernsMotor vehicles (not plying for hire) 25%0% 0%0% 20%15% 9 Motor vehicles (plying for hire) 25% 0% 15% 10 Ships 25% 0% 15% Depreciable 11 Air crafts and aero engines 25% 0% 30% Machinery / equipment Qualifying for 12 1st year Allowance 90% 0% 15% Plant / machinery already allowed as 13 deduction 0% 0% 15% 14 Ramp for Disabled Persons 100% 0% 100% 15 Total . Total Depreciation (Initial plus 16 Normal) Proportionate Depreciation for 17 transitional tax year Signature: Acquisition Original Cost Extent Description Code Date Useful Years / Expenditure (%) Amortization 18 Intangibles 19 Intangibles 20 Intangibles Intangibles 21 Intangibles Expenditure providing long term 22 advantage / benefit 23 Pre commencement expenditure 20% 24 Total Description Code Amount Tax Year Unadjusted Business loss for previous 25 year (s) 2008 Unadjusted Business loss for previous 26 year (s) 2009 Adjustments Unadjusted Business loss for previous 27 year (s) 2010 Unadjusted Business loss for previous 28 year (s) 2011 Forward Unadjusted Business loss for previous 29 year (s) 2012 Unadjusted Business loss for previous Brought 30 year (s) 2013 Business Income available for 31 adjustment) (Transfer to Sr. 39 of Unabsorbed Amortization of intangibles / expenditure providing 32 long term advantage / benefit for upto 2013 Amortization of intangibles / expenditure providing long term 33 advantage / benefit for current year 2014 Unabsorbed depreciation / initial 34 allowance for previous year(s) upto 2013 Depreciation / initial allowance for 35 current year 2014 Business Income available for 36 adjustment) (Transfer to Sr. 40 of Signature: Date:

PART-II E Annex - D Admissible / Inadmissible Deductions Name Tax Year 2014 CNIC NTN Sr. Description Code Amount 1 Total Admissible Deductions [Sum of 2 to 8] (Transfer to Sr. 38 of Annex-B) 2 Tax Amortization 3 Tax Depreciation Deductions 4 Income / (Loss) relating to Final and Fixed tax 5 Other Admissible Deductions 6 Accounting gain on disposal of depreciable assets / intangibles 7 Tax loss on disposal of depreciable assets / intangibles Admissible 8 Others 9 Total Inadmissible Deductions [Sum of 10 to 31] (Transfer to Sr. 37 of Annex-B) Cess, rate or tax levied on profits or gains or assessed as a percentage or otherwise on the basis of 10 profits or gains Salary, rent, brokerage, commission, profit on debt, payment to non-resident, payment for services or 11 fee liable to tax deduction at source 12 Entertainment expenditure in excess of prescribed limits 13 Contribution to un-recognized provident fund, pension fund, superannuation fund or gratuity fund Contribution to a provident fund or other fund established for the benefit of the employees, unless 14 effective arrangements have been made to deduct tax at source 15 Fine or penalty for the violation of any law, rule or regulation 16 Personal expenditure 17 Provisions or amounts carried to reserves or funds etc. or capitalised in any way 18 Profit on debt, brokerage, commission, salary or other remuneration paid by an AOP to its members Any salary, rent, brokerage or commission, profit ondebt, payment to non-resident or payment for Deductions 19 services or fee on which tax was required to be deducted and paid but was not deducted and paid Expenditure under a single account head which, in aggregate, exceeds Rs. 50,000 paid otherwise than by a crossed bank cheque or crossed bank draft (excluding expenditures not exceeding Rs. 10,000 or on account of freight charges, travel fare, postage, utilities or payment of taxes, duties, fees, fines or any 20 other statutory obligation) Inadmissible Salary exceeding Rs. 15,000 per month paid otherwise than by a crossed cheque or direct transfer of the 21 funds to the employee's bank account 22 Capital expenditure 23 Provisions for bad debts, obsolete stocks, etc. Apportionment of expenditure including profit on debt, financial cost and lease payments relatable or 24 attributable to non-business activities 25 Mark-up on lease financing 26 Accounting pre-commencement expenditure written off 27 Tax gain on disposal of depreciable assets / intangibles 28 Accounting loss on disposal of depreciable assets / intangibles 29 Accounting amortization 30 Accounting depreciation 31 Others Signature: Date:

Annex - E Minimum Tax Chargeable / Option for Normal Tax Regime instead of Final Tax regime Name Tax Year 2014 CNIC NTN Fee for Other Fee for Sales not Services not Revenues not Imports of Transport Fee for Other Other Export Indenting liable to tax liable to tax liable to tax Packaging Total edible oil u/s Services u/s Services u/s Imports u/s Sales u/s Proceeds u/s Commission deduction at deduction at deduction at Material u/s Electricity Sr. Description Code Amount 148 153(1)(b) 153(1)(b) 148 153(1)(a) 154(4) u/s 154 Source Source Source 148 Bills u/s 235 Col. A B G H C D E J F I K L M Sales [Transfer from Sr.1 Col.A of Annex-B to Col.A & bifurcate 1 amongst Col.B to I] 12,500,000 1,000,000 500,000 800,000 2,000,000 1,500,000 3,500,000 2,500,000 700,000 Gross Profit [Transfer from Sr.18 Col.A of Annex-B to Col.A & regime 2 apportion on proportionate basis amongst Col.B to I] 3,750,000 300,000 150,000 240,000 600,000 450,000 1,050,000 750,000 210,000 Tax Other Revenues [Transfer from Sr.19 Col.A of Annex-B to Col.A & 3 bifurcate amongst Col.J & K] 100,000 50,000 50,000 Final Profit & Loss Account Expenses [Transfer from Sr.20 Col.A of Annex- of 4 B to Col.A & apportion on proportionate basis in Col.B to K] 1,250,000 100,000 50,000 80,000 200,000 150,000 350,000 5,000 250,000 70,000 5,000 Income / (Loss) from Business [Transfer from Sr.44 Col.A of Annex-B instead 5 to Col.A & apportion on proportionate basis amongst Col.B to K] 2,600,000 208,000 104,000 166,400 416,000 312,000 728,000 10,400 520,000 145,600 10,400 Regime 6 Taxable Income [Transfer from Sr.22 of Return] 2,600,000 Tax 7 Net Tax Chargeable at Standard Rate [Transfer from Sr.25 of Return] 390,000 Normal 8 Proportionateapportion on Taxproportionateon BusinessbasisIncomein Col.B[(7/6)*8)to placeK] in Col.A & 390,000 31,200 15,600 24,960 62,400 46,800 109,200 1,560 78,000 21,840 1,560 for 9 Receipts / Value for FTR Purposes 900,000 500,000 800,000 1,800,000 1,500,000 3,500,000 50,000 10 Rate of Tax Deductable on Receipts/Value for FTR Purposes 3% 2% 7% 5.5% 4% 1% 5% Option/ 11 Tax Deductable on Receipts/Value for FTR Purposes [9*10] 27,000 10,000 56,000 99,000 60,000 35,000 2,500 12 Rate of Minimum Tax Payable to qualify for NTR 60% 70% 50% 50% Chargeable Tax 13 Minimum Tax Payable to qualify for NTR 59,400 42,000 17,500 1,250 Minimum Tax Chargeable [11-8 if > 0 else 0] [Transfer to Sr.26 of 14 Return] 31,040 - - 31,040 Minimum 15 Whether option for NTR instead of FTR is valid? Yes Yes Yes Yes Signature: Date:

PART-II E Annex - F Details of Personal Expenses Name Tax Year 2014 CNIC NTN Sr. Description Code Amount 1 Rent (Residence) 2 Property tax / insurance / security services (Residence) 3 Electricity (Residence) 4 Water (Residence) 5 Gas (Residence) 6 Telephone (Residence) Mobile / internet Expenses 7 Education (Self / Spouse / Children) 8 Travelling (foreign / local) Personal 9 Vehicle running / maintenance of 10 Club membership fees / bills 11 Other personal and household expenses Details 12 Total personal expenses (Sum of 1 to 10) 13 Contribution by family members 14 Net Personal Expenses (11-12) Number of family members / dependents Signature: Date:

PART-II E WEALTH STATEMENT UNDER SECTION 116 OF THE INCOME TAX ORDINANCE, 2001 1/4 Name Tax Year 2014 CNIC NTN 1 Immovable Property (Agricultural) [Sum of 1 i to 1 x] * Insert more rows if required Description Khewat No. Khatooni No. Khasra No. Share % Code Amount i ii iii Assets iv v Immovable vi vii viii ix x 2 Immovable Property (Non-Agricultural / Non-Business) [Sum of 2 i to 2 x] * Insert more rows if required Complex/Street/B Area/Locality/Ro Union Description Unit No. lock/Sector ad Council Tehsil Share % Code Amount i ii iii Assets iv v Immovable vi vii viii ix x 3 Business Capital * Insert more rows if required Enter name of each AOP in which you are a member and share capital in each Share % Code Amount i ii iii Enter name of each Sole Proprietorships in rows below. Enter consolidated amounts of all Sole Proprietorships in the Balance Sheet below. Enter Assets minus Liabilities as Business Capital. i 100% ii 100% iii 100% Assets Liabilities Code Amount Assets Code Amount Total Liabilities Total Assets Movable Capital Land & Building Deferred Liabilities Plant & Machinery Motor Vehicles, Office Long Term Loans Equipment, Furniture & Fixture Short Term Loans Investments Advances/Deposits/Prepaymen Trade & Other Payables ts/Receivables Other Liabilities Stock in Trade/Stores/Spares Cash & Cash Equivalents Other Assets Signatures:

WEALTH STATEMENT UNDER SECTION 116 OF THE INCOME TAX ORDINANCE, 2001 2/4 Name Tax Year 2014 CNIC NTN 4 Agricultural Plant, Machinery, Equipment, Livestock, etc. [Sum of 4 i to 4 viii] * Insert more rows if required Description Code Amount i ii Assets iii iv Movable v vi vii viii 5 Investment (Non-Business) [Sum of 5 i to 5 xiii] * Insert more rows if required Acquisition Description No. Institution Product Currency Date Code Amount i Account ii Annuity iii Bond iv Certificate v Debenture Assets vi Deposit vii Fund Movable viii Instrument ix Insurance Policy x Security xi Stock / share xii Unit xiii Others 6 Debt (Non-Business) [Sum of 6 i to 6 vii] * Insert more rows if required Description Debtor's CNIC Debtor's Name Debt Date Code Amount i Advance ii Debt Assets iii Deposit iv Prepayment Movable v Receivable vi Security vii Others 7 Motor Vehicle (Non-Business) [Sum of 7 i to 7 viii] * Insert more rows if required E&TD Registration Registration Description No. Maker Model Engine No. Chasis No. Date Code Amount i ii Assets iii iv Movable v vi vii viii Signatures:

WEALTH STATEMENT UNDER SECTION 116 OF THE INCOME TAX ORDINANCE, 2001 3/4 Name Tax Year 2014 CNIC NTN 8 Precious Posessions [Sum of 8 i to 8 viii] * Insert more rows if required Acquisition Description Quantity Date Code Amount i Antique ii Artifact iii Jewelry iv Ornament v Precious Metal / Stone vi Others 9 Household Effects [Sum of 9 i to 9 viii] * Insert more rows if required Acquisition Description Quantity Date Code Amount i Electronics/Electrical Gadgets ii Furniture iii Personal Items iv Others 10 Cash in Hand & at Bank (Non-business) [Sum of 10 i to 10 x] * Insert more rows if required Cash in hand Account No. Bank / Branch Product Currency Opening Date Share % Code Amount i Current Assets ii Current iii Fixed Movable iv Fixed v Profit/Loss Sharing vi Profit/Loss Sharing vii Saving viii Saving ix Term x Term 11 Any Other Asset (Not specified above) [Sum of 11 i to 11 viii] * Insert more rows if required Description Code Amount i ii iii iv v vi vii viii Name 12 Assets created Benami in the name of spouse(s), children & other dependents [Sum of 12 i to 12 iv] Description Code Amount i Others' in ii iii Assets iv 13 Total Assets [Sum of 1 to 12] Signatures:

WEALTH STATEMENT UNDER SECTION 116 OF THE INCOME TAX ORDINANCE, 2001 4/4 Name Tax Year 2014 CNIC NTN 14 Institutional / Individual Liabilities [Sum of 14 i to 14 vii] * Insert more rows if required Description Creditor's CNIC Creditor's Name Credit Date Code Amount i Advance ii Borrowing iii Credit Liabilities iv Loan v Mortgage vi Overdraft vii Payable viii Others 15 Net assets as on 30-06-2014 [13-14] 16 Net assets as on 30-06-2013 17 Increase/Decrease in assets [15-16] 18 Income [Sum of 18 i to 18 ix] Code Amount i Income declared for Tax Year 2014 ii Exempt Income iii Agriculture Income iv Income attributable to Fixed / Final Tax Regimes v Foreign Remittance vi Inheritnce vii Gift viii Gain on sale of assets, excluding capital gain on sale of immovable property included at 18 iv Assets ix Others Net of 19 Personal Expenditure [Sum of 19 i to 19 xiii minus 19 xiv] Code Amount i Rent (Residence) ii Property tax / fire insurance / security services (Residence) iii Electricity (Residence) Reconciliation iv Water (Residence) v Gas (Residence) vi Telephone (Residence) Mobile / internet vii Education (Self / Spouse / Children) viii Travelling (foreign / local) ix Vehicle running / maintenence x Club membership fees / bills xi Other personal and household expenses xii Gift given xiii Others xiv Contribution in expenses by family members 20 Increase/ Decrease in assets [18-19] 21 Assets transferred / sold / gifted to any person during the year [Sum of 21 i to 21 ii] Asset Description Code Amount i Disposed ii I, _______________________________________________________, CNIC No. ____________________________________, in my capacity as Self/ Representative* of the taxpayer named above, do hereby solemnly declare that to the best of my knowledge and belief the information given in this statement of the assets and liabilities of myself, my spouse(s), minor children and other dependents as on 30.06.2014 and of my personal expenditure for the Verification year ended 30.06.2014 are correct and complete in accordance with the provisions of the Income Tax Ordinance, 2001, Income Tax Rules, 2002. Signatures: Date:

2. This notification shall be applicable for the tax year 2014. [F.No.4(51)ITP/2014] (Shabih ul Aijaz) Secretary (Income Tax Policy)