The return of income exempt tax its a must
as written to Income Tax act, No. 58 of 1962, as amended. This is not a
issue of individuals but organizations too and Taxman must paid. The question:
How to register? How to fill up the forms for tax return without including
mistakes that can make you pay? I'm keen to help you.
SARS (South African Revenue Service) have
many types of form, so you need to know which one you should submit. Times where
doing tax returns was snag, joining a long que, drive a long way to their
office its gone and thanks to efilling. In article I will discuss, Submit tax
return in eletronic way. I mean submitting online through efilling site, but
what is prime its to fill up a form over understanding what are entering
because unless finding yourself pay unnecessary.
As you declared during registering process
that " you're duly appointed public officer/ representative taxpayer/
trustee of the organisation. The information furnished in this return is true
and correct in every respect. You disclosed in full the total receipts and
accruals received by this organisation during the period covered by this
return. You have necessary financial records to support all the declarations on
this form which you will retail for audit purposes.
So about that declarations, it means you
need to be carefully. IT12EI is suitable for organisation and company not
individually, I guess you're a representative of a organidation or company. If
so let hit the rock.if you registered for online submission Login using
username and password and click IT12EI.
The PC will send you to Dashboard that
will prompt > Request history, Submit tax return. So click request tax
return, and then they will give you year that is due written with red.
Well, sometimes your computer will not allow you access the Sars form because
of one reason: you need to use only latest explorer and if disallow you to open
IT12EI you'll see the page like the following one:
My tip: while
you register choose Other if your organisation is a PBO (Public Benefit
Organisation) or NPO (Non Profit Organisation).
So go to Registered Details: Is
the banking, representative and contact deatails of the Enterprise been and
confirmed as correct? Yes or no . Then Tick Y Box. >Date of
Registration: This space has filled already, so leave it as it is.
< PAGE 2 >
This page is what Revenue Service interested
more in, so as you declared while you log in on signup process, keep your eyes
open. This page contains source codes which you're unable to change
them.
General Financial Information ( This sections must completed with rands only)
Rental income: If you have it, write amount in Rands only. On the following line
comes Investment income: write all investment income here if you have
one. Donations received >Local > Foreign : enter it if there is
any received. Membership fees and subscriptions received: Write it down.
And so on and on until you reach at: Total Expenditure of organisation: Write
down all expenses.
At this moment you almost done but you need
to fill additional information:
First are the 5 yes or no questions, so
boxes indicated as Y and N: were any amendments effected to the founding
document? Y or N. Did any objectives or activities change during this year of assessment?
Y or N. Audit report qualification? Y or N. Is the organisation dormant? Y or
N. If dormant- does the organisation have any assets and/ or reserves? Y or N.
The last two question must answered with
sums in Rands only. Gross remuneration paid to office bearers. Write the
sums or enter 0. Gross remuneration paid to employees: enter it if there
is any.
The next section is: Infomation in
respect of taxable receipts. This section contain source codes and must
answered with rands only. I encourage you to enter 0 to all questions
and pass to Taxable income/ loss: this is for 2 questions which you
should enter 0 to both.
The last part: Tax Deductable receipts
issued in respect of Donations (section 18A): answer with sums only and yes
or no questions indicated as Y and N.
