Law: Income Tax Ordinance, 2001

Section: 5,6,7,113,120,120(1),122,147,147(4),147( 4A),147(1),147(6),147(7),149,168(3),176, 235

Law: Constitution of Pakistan, 1973

Section: 199

(a) Income Tax Ordinance (XLIX of 2001)--- ----Ss. 147, 120 122---Advance tax under S.147 of the Income Tax Ordinance, 2001--- Nature and concept---Advance tax as estimate to be made by taxpayer---Scope---Amount paid as advance tax was not the property of the Federal Government but remained vested in an assessee and was merely an amount which was paid in advance in respect of tax before it became due---Tax became due only after regular assessment and in case an amount was found to have been paid more than what was due, a refund to the assessee was in order---By such token, therefore, advance tax was an estimated amount of income tax to be paid by the taxpayer in four quarterly installments and concept underlying entire regime of advance tax was that estimate was to be made by the taxpayer and it was not for the tax authorities to question or object till the close of the tax year and it was then that the law empowered taxation officers to verify advance tax paid and to impose any liability in case it was found that an additional tax was due from the taxpayer---If more amount had been paid as advance tax, taxpayer was entitled to refund of excess amount---Per S. 147(4A) of the Income Tax Ordinance, 2001 it was clear that entire concept of advance tax was based on estimate of the tax payable for the relevant taxpayer and such estimate had to be made by the taxpayer which was the theme that ran through the entire length and breadth of S. 147 of the Income Tax Ordinance, 2001---Estimate had to be made by the taxpayer and on basis of such estimate, taxpayer made payment of advance tax in accordance with S.147(4) of the Income Tax Ordinance, 2001----Same concept permeated S.147(6) of the Income Tax Ordinance, 2001 where the taxpayer was required to make the payment of advance tax under S.147(1) of the Income Tax Ordinance, 2001 and where taxpayer estimated at any time before the last installment was due that tax payable by him for the relevant tax year was likely to be less than the amount he was required to pay, then under S.147(1) of the Income Tax Ordinance, 2001 taxpayer may furnish to the Commissioner Inland Revenue an estimate of the amount of the tax payable by…

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