Notification for Companies Return

GOVERNMENT OF PAKISTAN REVENUE DIVISION FEDERAL BOARD OF REVENUE *** Islamabad, the 2nd September, 2009 NOTIFICATION (Income Tax) S.R.O. 765 (I)/2009.- The following draft of 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, as required by sub-section (3) of the said section, and notice is hereby given that the draft will be taken into consideration 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. DRAFT AMENDMENT In the aforesaid Rules, in the Second Schedule, after Part-I the following new Part shall be inserted, namely:-

RETURN OF TOTAL INCOME/STATEMENT OF FINAL TAXATION IT-1 UNDER THE INCOME TAX ORDINANCE, 2001 (FOR COMPANY) N° 1 Taxpayer's Name NTN Reg/Inc No. 2 Bussiness Name Tax Year 2009 3 Business Address City Res. Status Resident Non-Resident 4 Principal Activity Code Revised N° Registration 5 Representative NTN Name Assessed N° 6 NTN Top 10 Share Holders' Names % Capital NTN Top 10 Share Holders' Names % Capital Holding Holding Share Share Remaining Share Holders Total 100% Items Code Amount Liabilities Code Amount 7 Net Sales 3101 93 Capital 8699 8 Gross Domestic Sales 31011 94 Paid-up Capital 8621 Tax) 9 Domestic Commission/Brokerage 31021 95 Reserves 8641 10 Gross Exports 31012 96 Accumulated Profits 8661 11 Foreign Commission/Brokerage 31022 97 Surplus on Revaluation 8671 12 Rebates/Duty Drawbacks 3107 98 Long Term Liabilities 8799 Final/Fixed 13 Cost of Sales 3116 99 Long Term Loans 8701 14 Local Raw Material/ Components 310411 100 Deferred Liabilities 8711 15 Imported Raw Material/ Components 310421 101 Current Liabilities 8899 (Including 16 Salaries,Wages 311101 102 Trade & Other Payables 8801 17 Power 311102 103 Short Term Loans 8821 18 Fuel 311103 104 Other Liabilities 8901 Account 19 Stores/Spares 311106 105 Total Capital & Liabilities 8999 20 Insurance 311107 Assets Code Amount 21 Repair & Maintenance 311108 Sheet 106 Fixed Assets 8199 Trading 22 Other Expenses 311118 107 Land 8101 23 Accounting Amortization 3114 108 Building 8111 24 Accounting Depreciation 3115 Balance 109 Plant & Machinery 812101 25 Opening Stock 3117 110 Capital Work-in-Progress 8181 26 Finished Goods Purchases (Local) 310412 111 Motor Vehicles 8131 27 Finished Goods Purchases (Imports) 310422 112 Office Equipment 812109 Manufacturing/ 28 Closing Stock 3118 113 Furniture & Fixtures 812103 29 Gross Profit/ (Loss) 3119 114 Current Assets 8299 30 Gross Receipts 3139 115 Investments 8251 31 Markup/ Interest (for Financial Institutions) 31311 116 Cash & Cash Equivalents 8201 32 Leasing 31312 117 Stock in Trade/Stores/Spares 8221 33 Oil & Gas Exploration 31313 118 Trade Receivables 8231 34 Telecommunication 31314 119 Advances/Deposits/Prepayments/Other Receivables 8241 35 Insurance 31315 120 Intangible assets 8401 36 Accounting Gain on Disposal of Intangibles 3135 121 Other Assets 8402 37 Accounting Gain on Disposal of Assets 3136 122 Total Assets 8499 38 Other Revenues/ Fee/ Charges for Services etc. 3131 Source Code Receipts/ Value Rate Code Tax Due Tax) 4039 Management,Rent/ Rates/Administrative,Taxes Selling & Financial expenses 31893141 123124 Imports 6401164012 5%1% 6501165012 41 Salaries & Wages 3144 125 64013 2% 65013 42 Travelling/ Conveyance 3145 126 64014 65014 43 Electricity/ Water/ Gas 3148 127 64015 0.5% 65015 Final/Fixed 44 Communication Charges 3154 128 Dividend 64031 5% 92031 45 Repairs & Maintenance 3153 129 64032 10% 92032 46 Stationery/ Office Supplies 3155 130 64032 7.5% 92033 47 Advertisement/ Publicity/ Promotion 3157 131 Gas consumption by CNG Station 64021 4% 65021 (Including 48 Insurance 3159 132 Royalties/Fees 640511 15% 650511 49 Professional Charges 3160 115(4) 133 640512 650512 50 Profit on Debt (Markup/Interest) 3161 U/s 134 Contracts (Non-Resident) 640521 6% 650521 Account 51 Donations 3163 135 Supply of Goods 640611 3.50% 650611 Loss 5253 Directors'Workers ProfitFeesParticipation Fund 31773179 136137 640612640613 1.50% 650613650612 & 54 Loss on Disposal of Intangibles 3185 Statement 138 Payment to Ginners for supply of cotton lint. 640614 1% 650614 55 6% 650631 Loss on Disposal of Assets 3186 Contracts (Resident) 640631 Tax 139 Profit 56 140 3187 640632 650632 Accounting Amortization 141 Transport Services 64142 2% 65142 57 Accounting Depreciation 3188 Final 58 Bad Debts Provision 31811 142 Exports/ Indenting Commission/ 64071 1% 65071 59 Obsolete Stocks/Stores/Spares Provision 31812 143 Export Services 64072 0.75% 65072 60 Diminution in Value of Investments Provision 31813 144 64073 0.50% 65073 61 Bad Debts Written Off 31821 145 64076 65076 62 Obsolete Stocks/Stores/Spares Written Off 31822 146 Foreign Indenting Commission 64075 5% 65075 63 Selling expenses(Freight outwards etc.) 31080 147 Property Income 64081 5% 65081 64 Others 3170 148 Prizes 64091 10% 65091 65 Net Profit/ (Loss) 3190 149 Winnings 64092 20% 65092 66 Inadmissible Expenses (Including proportionate expenses relating to PTR) 3191 150 Petroleum Commission 64101 10% 65101 67 Tax Gain on disposal of Intangibles 319135 151 Brokerage/Commission 64121 10% 65121 68 Tax Gain on disposal of Assests 319136 152 Advertising Commission 64122 5% 65122 69 Other Inadmissible Expenses 319198 Tax 153 Stock Exchange Commission 64131 0.01% 65131 70 Admissible Deductions 3192 154 Goods Transport Vehicles 64141 65141 71 Tax Amortization 319287 Fixed 155 Total 6599 72 Tax Depreciation 319288 Source Code Receipts/Value Rate Code Tax Due 73 Other Admissible Deductions 319298 156 Property Income not subject to WHT 210101 5% 920235 Adjustments 74 Income/(Loss) relating to Final and Fixed tax 3199 157 Purchase of Locally Produced Edible Oil 310431 1% 920208 75 Loss for the year surrendered to Holding Company 3901 158 Services rendered / contracts executed outside Pakistan 210102 1% 920236 76 Loss acquired from Subsidiary Company and Adjusted 3902 159 Total 9202 77 Brought Forward Loss Adjusted/(Loss for the year Carry Forward) 3990 160 Total of Final & Fixed Tax (151+155) 94592 78 Total Income/ (Loss) 9099 161 Tax Paid/ Deducted 94591 79 Business Income/(Loss) 3999 162 Tax Payable/ Refundable to be transferred to Net Tax Payable 6699 80 Capital Gains 4999 Computation 163 Gross Tax @ 9201 81 9249 Other Sources Income/ (Loss) 5999 Tax Reductions, Credits & Averaging Tax 164 82 6399 165 310101 Foreign Income/ (Loss) Business Turnover Computation 83 Deductible Allowances 9139 166 Minimum Tax 0.5% 920201 84 Zakat 9121 167 Mimimum Tax Exemptions/ Reductions 9217 85 Workers Welfare Fund 9122 168 Adjustment of Minimum Tax 9497 Income 86 Charitable Donations Admissible for Straight Deduction 9124 169 Final Tax on Business Turnover 6598 87 Taxable Income/ (Loss) 9199 170 Net Minimum Tax Payable 9203 88 6199 9299 Exempt Income Net Tax Refund 171 Taxable 89 6102 172 9499 / Property Income Tax Already Paid Including Adjustments Total 9190 BusinessCapital GainsIncome 61036104 174173 NetTax TaxPaidPayableas per CPR No. 999919471 Payment/ 92 Other Sources Income/ (Loss) 6105 175 Net Tax Refundable; may be credited to my bank account as under: 9999 I, holder of CNIC 176 Bank in my capacity as Principal Officer / Trustee / Representative (as defined in section 172 of the Income Tax 177 City Ordinance, 2001) of the Taxpayer named above, do solemnly declare that to the best of my knowledge and belie 178 Branch Name & Code the information given in this Return/Statement u/s 115(4) is correct, complete and in accordance with the provisions of 179 A/C Number the Income Tax Ordinance, 2001, Income Tax Rules, 2002 and the Companies Ordinance 1984. 180 WWF Paid with Return as per CPR No 9308 Date (dd/mm/yyyy) Signature

Annex A-1 Tax Year 2009 Depreciation, Initial Allowance and Amortization A-1 NTN Reg/Inc/CNIC No. Value forward (Rs) Down Remarks carried Amount Written (Rs) (Rs) Use Usage Amount Amount Business Actual Depreciation (Rs)Extent Days(Rs) Annual Use / Amount Amortization Amount Total Business Rate 10% 15% 15% 15% 15% 15% 15% 30% 30% 30% 100% 20% Extent on (Rs) (Rs) any if Allowance Amount Annual Amount additions, Initial Rate 50% 0% 50% 50% 0% 50% 50% 50% 50% 50% 50% 50% (Rs) Cost (Rs) Total Amount Original Amount (Rs) (Deletions) Amount (Rs) Life Year(s) Additions Useful Amount forward Down (Rs) on Value (Date)Brought Written Amount Acquired dd/mm/yyyy Code 8102 Code 8105 8107 8141 810303 810301 81042 81041 81043 810304 810302 810308 81044 810306 810307 in hire of otherwise hire for books itemsused production concerns perioda oil for Assets including allied and for fittings engines (not plying products providing and plant plying not equipment IT mineral aero installations benefit Total types) professional of of Total Intangibles concerns and and or or hardware and Particulars/Description (all including platforms Particulars/Description Depreciable monitor oil vehicles vehicles ground expenditure crafts shore Building Furniture Machinery specified) Motor Motor Ships Technical Computer printer,Machinery manufacture Air Below mineralOff installations Intangibles Any advantage Others No. 1. 2. 3. 4 5 6 7 8 9 10 11 12 No. 1. 2. 3. S. S. Signatures

Annex B-1 Tax Year 2009 Carry forward and brought forward of Unabsorbed Depreciation, Initial Allowance, Amortization and Business Losses (Other than Speculation Business) B-1 NTN Reg/Inc/CNIC No. Particulars Code Amount (Rs.) 1. (a) Business income/(loss) for the year after depreciation and amortization 261111 (b) Business income/(Loss) for the year transferred to Return of Total Income for 261112 adjustement against (loss)/income for the year under any other head of income (c) Loss for the year surrendered in favour of a holding company 3901 (d) Balance business income/(loss) for the year after depreciation and amortization [Add 261114 1(a) minus 1(b) minus 1(c)] 2. Breakup of balance income/(loss) for the year after depreciation and amortization: 261211 (a) Business income/(loss) for the year before depreciation/amortization 3900 (b) Depreciation for the year including unabsorbed depreciation brought forward 3988 (c) Amortization for the year including unabsorbed amortization brought forward 3987 3. Details of adjustments of brought forward business losses, losses of subsidiary, depreciation and amortization including unabsorbed depreciation and amortizaton 261311 (a) Business income/(loss) for the year before depreciation and amotization 261312 [from 2(a) above] (b) Adjustment of brought forward business losses 261313 (c) Adjustment of losses of subsidiary 261314 (d) Adjustment of depreciation including unabsorbed depreciation brought forward 261315 (e) Adjustment of amortization including unabsorbed amortization brought forward 261316 (f) Balance business Income after adjsutment transferred to Return of Total Income [3(a) 261317 minus 3(b) minus 3(c) minus 3(d) minus 3(e), if greater than zero, else Nil] (g) Balance business loss after adjsutment carry forward [3(a) 261318 minus 3(b) minus 3(c) minus 3(d) minus 3(e), if less than zero, else Nil] Assessment Code Balance brought forward Adjusted against Lapsed(not available for carry Balance carried Year / OR the income for the forward) /Attributtable to forward Tax Year For the current year current year PTR income (starting from Taxpayers own Of amalgamating earliest year) company Amount (Rs.) Amount (Rs.) Amount (Rs.) Amount (Rs.) Amount (Rs.) 4. Details / breakup of business losses brought forward and carried forward (a) 1999-00 3900 (b) 2000-01 3900 (c) 2001-02 3900 (d) 2002-03 3900 (e) 2003 3900 (f) 2004 3900 (g) 2005 3900 (h) 2006 3900 (i) 2007 3900 (j) 2008 3900 (k) Current year 3900 Total 262422 5. Details / breakup of un-absorbed depreciation brought forward and carried forward (a) B/Forward 319288 (b) Current year 319288 Total 262513 6. Details / breakup of un-absorbed amortization brought forward and carried forward (a) B/Forward 319287 (b) Current year 319287 Total 262613 7. Details / breakup of losses of subsidiaries brought forward and carried forward (a) 2007 3904 (b) 2008 3904 (c) Current year 3904 Total 262714 Signature

Annex C-1 Tax Year 2009 Tax Already Paid Including Adjustments C-1 NTN Reg/Inc/CNIC No. Particulars Code Amount of Tax paid (Rs.) Advance Tax 1. First installment CPR No. Evidence of payment attached 94611 2. Second installment CPR No. Evidence of payment attached 94612 3. Third installment CPR No. Evidence of payment attached 94613 4. Fourth installment CPR No. Evidence of payment attached 94614 5. Sub-Total [Add 1 to 4] 9461 Tax Collected/Deducted at Source Amount of Tax (Other than tax collected/deducted on receipts/value of goods subject to final taxation) deducted (Rs.) 6. On import of goods Evidence of payment attached 94019 7. On dividend Income 94039 8. From salary 94029 9. On profit on debt Evidence of payment attached 94049 Certificate/Account No. etc. Bank Branch Share% 94049 94049 94049 10. On Government securities Evidence of payment attached 94043 11. On payments received by non-resident Evidence of payment attached 940539 12. On Import of CBU motor vehicle by manufacturers Evidence of payment attached 94018 13. On payments for goods Evidence of payment attached 940619 14. On payments for services Evidence of payment attached 940629 15. On payments for execution of contracts Evidence of payment attached 940630 16. On withdrawal from pension fund Evidence of payment attached 94028 17. On cash withdrawal from bank Evidence of payment attached 94119 Certificate/Account No. etc. Bank Branch Share% 94119 94119 94119 18. On trading of shares at a Stock Exchange Evidence of payment attached 94138 19. On financing of carry over trade Evidence of payment attached 94139 20. With motor vehicle tax (Other than goods transport vehicles) Evidence of payment attached 94149 Registration No. Engine / Seating Capacity Owner's Name Share% 94149 94149 94149 21. Tax Collected by car manufacturer Evidence of payment attached 94118 Registration No. Engine / Seating Capacity Owner's Name Manufacturer Prticulars 94179 94179 94179 22. With bill for electricity consumption Evidence of payment attached 94159 Consumer No. Subscriber's CNIC Subscriber's Name Share% 94159 94159 94159 23. With telephone bills, mobile phone and pre-paid cards Evidence of payment attached 94169 Number Subscriber's CNIC Subscriber's Name Share% 94169 94169 94169 24. Others 25. Sub-Total [Add 6 to 24] 94599 Adjustment of Prior Year(s) Refunds Determined by Department 26. Refund adjustments (To the extent adjustment is required against the current year's tax payable, if any) Refund Assessed Previous Adjustments Available for Adjustment Total Tax Year Amount (Rs.) Tax Year Amount (Rs.) Amount (Rs.) Amount (Rs.) (a) 94981 (b) 94981 (c) 94981 (d) Sub-Total [Add 26(a) to 26(c)] Evidence of refund due attached 9498 Total Tax Already Paid Including Adjustments 27. Transfer to the Return of Income [Add 5 plus 25 plus 26(d)] 9499 Workers Welfare Fund Already Paid 28. CPR No. Evidence of payment attached 9495 Signatures

(3) - (2) D-1 Profit/Loss =2009 (4) Signature Gross Year Sales of (3) NTN Tax RTO/LTU Cost (2) Sales Business Multipe D-1 of 2) of case 1 in Activity (IT-2,Annex Sales Return of Business & (1) Main the Name of Breakup 15 & 10 Business Sr-9, to use official for Name Acitivity Name Acitivity Name Acitivity Name Acitivity Name Acitivity transferred are fields Individual) Name Name be (to (for Business Business Business Business Business Business Business Business Business Business blank Sr. 1 2 3 4 5 Total CNIC Taxpayer's Business Grey : SALES OF BREAKUP WISE BUSINESS Note

2. This notification shall be applicable for the tax year 2009. [C.No. 7(45) Tax Base/06] (Asrar Raouf) Member Policy (Direct Taxes)/ Additional Secretary