Thank you dear. It wasn't a big deal, you just need to view your return and just have to find out the particular section. Anyhow thanks. Surprised! why are we scared to share information with others.
Sorry brother, I never used IRIS myself to file returns so can't help on this. I've no idea how to use IRIS, it's just too complex for me. But I do plan to learn it from my tax consultant for future so I don't have to use a tax consultant. Let me know your experience with it.
No problem at all.
I requested just to review your return statement and you can definitely easily find out your income there and this is what all about your return that you have to repeat every year with plus minus, simply.
Wealth statement is also a one time activity and later on it is just increase or decrease. Anyhow, no issue i have find the section, it falls foreign income head.
Did they provided you 1 PRC for multiple remittances? Did the PRC had any remittance details, like amount in USD or PKR, dates, sender etc.? Will it be possible for you to share the format of PRC how it looks? Also I wonder what to do if someone needs PRC for last few years!?????
Multiple PRC were issued but I returned them back as they were under wrong code. I have attached a sample PRC, some one posted as a sample.
What code they entered on your PRC and what code you wanted it to have?
Also please confirm how do you know it's important to have purpose codes on PRC? I mean to ask aren't codes only for businesses registered with PSEB? Why would individual freelancers have the codes anyways since they're not registered with PSEB?
Only few months back all the question you asked were posted on PSEB and all the stuff I did where recommneded by PSEB itself. In the past few months they have removed all mentions of Free lancer from the websites.
I want codes for software export as thats my primary work. 9184 is the code.
These codes has nothing to do with PSEB. It just a measure of software export by Pakistan. It is maintained at State Bank. All type of remittance has codes which measure what we as nation are doing with remmittance. Having the correct code not only help the Pakistan Export Figures but all also authenticate what we do is a software work. BUT they only provide these codes to business which I found out very recently. Even the bank asked for PSEB registeration to get these codes. I gave them evidence of my work as free lancer. I haven't got any thing back yet.
If your bank doesn't ask for Form-R, how do you provide them? I mean when they ask for it, it's when they're holding a remittance & they get a request from headoffice to branch to ask the account holder to provide Form-R. Branch then acquires Form-R from account holder & sends it to headoffice, then they credit the remittance to the account, so that way Form-R remains in the record of the bank & they report this to SBP. But if they're not asking you for it and they're crediting remittances without it, I wonder why you're still giving them? And more importantly, how the branch is keeping it in their record bcoz I don't think they'll be sending it to headoffice, hence it's not being reported to SBP.
I just goto bank with r-form and get those stamped and recieved by branch manager. They don't know what to do with it but I said thats not my problem. I am obliged to report my remmittance and I am doing that. Branch don't have any record but I do. When they gave me incorrect code, I showed them R-forms I submitted. Bank is equally confused as we are.
Whatever I did was wrritten on PSEB website and just got removed. I just followed what was wrritten there.
Thanks for the follow up. I like the idea of keeping Form-R for personal record.
I actually got a PRC from my branch too but it's different than what you shared bcoz its not sent from headoffice. I needed PRC for past few years of remittances but the branch staff said that will take 'FOREVER'. So my branch manager suggested me something. He asked me to send a list of all remittances to him for which I needed the PRC, so he can cross check all, print, sign & stamp it. That is how I got my PRC but it doesn't have any purpose code mentioned on it. And I wonder if its good enough, since it's not issued by headoffice. But hopefully something is better than nothing?
Do you recommend I should get this updated, this time with a purpose code added to it?
Also which purpose code you think would apply on a virtual assistant/project manager? Would it be 9184 or 9185 or something else?
I have mentioned previously that what bank branches give is not PRC. its a receipt. Ideally that receipt should be enough if it states where payment is actually coming from. But PRC is a reporting of remmittance from your bank to State Bank and it should have purpose code else it's a receipt.
PRC will be helpful in case of Audit. So its better to apply for it now.
Just to clarify, I am no expert I am just exploring this stuff for the first time and mentioning the hurdles I am facing. So I am not sure what code fits your work. See second schedule point 133 - the exemption clause and then find out the relevant code from the list codes. There is also code if your work-line is not mentioned in any.
I called FBR helpline today. The guy who picked the phone in legal wing was in no mood to talk. I explained him the whole thing & in the end all he could say is, "We've information desks in regional offices, you can just go there & get the information you want." So frustrating & disappointing.
By the way, when you get Form-R signed & stamped from your branch manager, do you keep the originally filled copy? I wonder if FBR ever checks it, if they'll ask that it's original & what you submitted to the bank?