CHARTERED ACCOUNTANTS Advance Professional Development Program Karachi Tax

CHARTERED ACCOUNTANTS Advance Professional Development Program Karachi Tax Bar Association Iris Contact Address: 4 th Floor, Central Hotel Building Civil Lines, Mereweather Road Karachi - Pakistan Phone: 021 - 35644872 -7 Fax: 021 - 35694573 E-mail: mim@mimandco. com Presented by: M. REHAN SIDDIQUI PARTNER

Iris Withholding Statements

Excel File On 2010 Format

Points To Be Noted Dashes are not acceptable on IRIS Last Digit of NTN is not acceptable NTN starts from “ 0” shall be written in Text format so that they shall not disappear after validation After Validation select All CNIC and NTN then, select Number format, in this way NTN wont show in forms like 421. 1 + 120 etc. Be Careful while selecting Month at the Time of creating Challan (PSID) Iris wont show each CPR in every month. Iris will show those CPR against a month that are created for the same.

After Login Select Withholding Tax…. >165(1) Statement Of Withholding Taxes

Select Period

Choose File And Import

After Importing Following Steps Shall Be Considered Click Calculate Click Validate Identify invalid entries Carefully determine why entries are invalid Main reasons of invalidation could be q Wrong payment section q You must know difference between rates for companies and Individual/AOP

After Importing Following Steps Shall Be Considered q Go to Data tab and select computation q Click calculate, it will show amount of tax determined by IRIS system q Go to payments and select CPR no carefully q The amount of tax determined by IRIS must equals amount of your CPR’s q Difference between two could be due to invalid entries of short deduction of taxes

Iris Determined Tax

Select Payments

Verification

Finalization Once you have acknowledged that amount debuted and collected equals the amount determined by IRIS you are ready to submit the statement Remember that before submission your last click must be calculate rather than validate. Once submitted, go to Complete task…> Withholding Tax…>Select statement submitted and print acknowledgement

H T K N A U O Y