Law: Income Tax Ordinance, 2001

Section: Preamble,122C(1)(2)

(a) Taxation--- ----Person could be made liable to pay tax on basis of explicit law, but not on presumption---Principles. A citizen can be made liable to pay tax only on the basis of unambiguous and explicit law. In fiscal statute, there is no room for any presumption or intendment and no provision of law can, by any process of argumentation or interpretation, be loaded with meaning or intention, which plain language of the provision does not convey. (b) Income Tax Ordinance (XLIX of 2001)--- ----Preamble---Tax culture in working classes, development of---Steps stated. Tax is not a forced liability, but in fact it is a responsibility to owe to the State a proportionate share given by the taxpayer for utilizing and consuming the services provided by the State. Its determination must be made with a view to keep the above principle intact and to maintain confidence and to boost the encouragement in the tax paying society, so that the tax should not be taken by the concerned public to be a harsh imposition, but a duty. It is high time to develop tax culture in the working classes, which held the enforcement of self-assessment at large and the tendency of concealment of taxes shall be gradually discouraged and public would rather prefer to be the taxpayer instead of tax swallowers. Similar is the position regarding Foreign National making investment, they would also be encouraged rather forced to make investment in other countries. (c) Income Tax Ordinance (XLIX of 2001)--- ----Ss. 122 & 122C---Provisional assessment, order of---Essential requisites stated. The assessment under Section 112C requires the same amount of care as is required under subsections (5) and (5A) of Section 122 of the Income Tax Ordinance, 2001, and such provisional assessment must indicate on what material or the basis the income is assessed and tax is determined. This is necessary because a provisional assessment order might attain finality under Section 122C(2) of the Income Tax Ordinance, 2001 or may be subject to revision by the High Court under Section 115 of Code of Civil Procedure, 1908 or may be matter in writ before High Court under Article 199 of the Constitution of Pakistan,…

Deprecated: trim(): Passing null to parameter #1 ($string) of type string is deprecated in /home/digixyei/sldsystempk.com/view/master-layout/view_case.php on line 492