Category: Taxation
Prosecution for disposal of property
Section 197 of Income Tax Ordinance, 2001 has explained prosecution for disposal of property to prevent attachment. The Federal Board of Revenue (FBR) issued the Income Tax Ordinance, 2001 updated up to June 30, 2021. The Ordinance incorporated […]
MTO Karachi asks taxpayers to file income tax returns
KARACHI: Hameed Memon, Chief Commissioner Inland Revenue, Medium Tax Office (MTO) Karachi on Wednesday urged the taxpayers to file income tax returns. He said this during his visit to the […]
Obstructing tax officials punishable offence
Section 196 of Income Tax Ordinance, 2001 has explained that obstructing income tax authorities is a punishable offence. The Federal Board of Revenue (FBR) issued the Income Tax Ordinance, 2001 updated up […]
Prosecution for not declaring foreign assets
Section 195A of Income Tax Ordinance, 2001 explains the prosecution for not declaring foreign assets. The Federal Board of Revenue (FBR) issued the Income Tax Ordinance, 2001 updated up to June 30, […]
Prosecution for making false, misleading statements
Section 195 of Income Tax Ordinance, 2001 describes the prosecution for making false or misleading statements. The Federal Board of Revenue (FBR) issued the Income Tax Ordinance, 2001 updated up to June […]
Prosecution for improper use of NTN Certificate
Section 194 of Income Tax Ordinance, 2001 has prescribed prosecution for improper use of NTN (National Tax Number) Certificate. The Federal Board of Revenue (FBR) issued the Income Tax Ordinance, 2001 updated up to June 30, […]
Three years imprisonment for undeclared offshore asset
Section 192B of Income Tax Ordinance, 2001 has prescribed three years imprisonment for undeclared offshore asset. The Federal Board of Revenue (FBR) issued the Income Tax Ordinance, 2001 updated up to June 30, 2021. The Ordinance incorporated amendments […]
FBR refutes reports of date extension for return filing
ISLAMABAD: Federal Board of Revenue (FBR) has denied any consideration of date extension for filing income tax returns for the tax year 2021. In a tweet the FBR spokesperson on […]
Failure to keep record to attract two years imprisonment
Section 193 of Income Tax Ordinance, 2001 explained that a taxpayer who fails to maintain record as required under the ordinance will commit offence, which will liable to two years imprisonment. […]
Two years jail for income concealment
Section 192A of Income Tax Ordinance, 2001 has prescribed two years imprisonment to a person who concealed income from tax authorities. The Federal Board of Revenue (FBR) issued the Income Tax Ordinance, 2001 updated up to […]