Amendment of Income Tax Return under Section 82BB

Introduction:

End of every Income year, an assessee requires to file Income Tax Return in compliance with the conditions and within the time specified in Section 75 and pays tax in accordance with the provision of Section 74 of Income Tax Ordinance 1984.

However, where, after filing the Return under Sub-section (1) of Section 82BB, the assessee finds that owing to any unintentional mistake the tax or any other amount payable under this Ordinance has been paid short or computed short by reasons of underreporting of Income or overreporting of Rebate, Exemption or Credit or for any other reasons, he may file to the Deputy Commissioner of Taxes an amended Return.

Types of error or mistake to amend the Return:

·??????Unintentional mistakes resulting in a difference in the amount of Income tax or other material figures than the amount mentioned in the Return; and

·??????Tax or any other amount payable under the Income Tax Ordinance has been paid short or computed short by reasons of underreporting or concealing of Income or overreporting of Rebate, Exemption or Credit or for any other reason.

Time for filing an amended Return:

An assessee may file to the Deputy Commissioner of Taxes an amended Return before the expiry of one hundred and eighty (180) days from the date of filing the original Return.

Required documents for an amended Return:

a)??attaching with the amended Return a written statement mentioning the nature and reason of the mistake;

b)??paying in full, on or before filing the amended Return-

i)???the tax and any other amount that has was paid short or computed short; and

ii)??an interest at the rate of two percent (2%) per month on the amount mentioned in sub-clause (i);

and if the Deputy Commissioner of Taxes is satisfied that the amended Return is filed in compliance with the conditions in clause (a) and (b), he may accept the amended Return.

When amended Return may not be granted:

Provided that no amended Return shall be allowed-

a)???after the expiry of one hundred and eighty (180) days from the date of filing the original Return under Sub-section (1); or

b)???after the original Return has been selected for audit under Sub-section (7).

Reference:

Income Tax Ordinance, 1984, Section 82BB (5).