Islamabad: The Federal Board of Revenue (FBR) has issued Form-D under Section 237 of the Income Tax Ordinance, 2001 to include more taxpayers in the tax bracket, a news source reported.
The said form carries various sections such as name of the taxpayer and CNIC number, the date on which a particular banking transaction took place, and monetary details.
The federal institution has included an additional section in which the taxpayer has to list the amount deducted in taxes. It has also included separate listings for filers and non-filers.
Meanwhile, FBR has directed all financial institutions operating countrywide to provide details of accountholders withdrawing more than PKR 50,000 on a daily basis and PKR 1 million per month.
According to sources, the board has decided to monitor the banking transactions of both filers and non-filers. It plans to use the details provided by the banks to verify the sources of income of these accountholders.
