Law: Income Tax Ordinance, 1979

Section: 9,14,Sched.II,57,20,2(43),14(2),17(1)(a) ,20&133

(a) Income-tax Ordinance (XXXI of 1979)---Ss. 9, 14 & Sched. II--Income-tax is, to be charged for any assessment year on the total income which is arrived at after excluding the exemptions as laid down in the Second Schedule. Section 9 of the Income-tax Ordinance which creates the charge of income tax lays down that such tax is to be charged, levied and paid for each assessment year commencing on or after the first day of July, 1979 in respect of assessment he total income of the income year or years, as the case may be. Again, section 4 of the Income Tax Ordinance refers to the exemptions laid down in the Second which are to be excluded from the total income before any tax is Schedule, worked out. Thus, it is clear that the income-tax is to be charged for any year on the total income which is arrived at after excluding the assessment ns as laid down in the Second Schedule. In other words, the income-tax exemptions is to be charged on the total income which is arrived at, at the time of expiry of an income year. (b) Income-tax Ordinance (XXXI of 1979)-- ---Ss. 57, 200 & Sched. II, Cl. 129--Scope and application of S.57--Wealth tax-¬Deduction--If an income earned after the expiry of an income year cannot be included in the total income of that income year under S.57 in the same way a deduction also cannot be allowed in an income year regarding a liability which is discharged after the expiry of that income year. Section 57 of the Income-tax Ordinance, 1979 does not allow revision of the return on account of any liability or any right which accrues after the expiry of the income year, except in those cases which fall under subsection (4) of section 20 of the income-tax Ordinance. Section 57 permits such type of omissions or wrong statements to be rectified which pertain to a right or liability which has already accrued within an income year. As such clause 129 refers to any amount of wealth tax paid by an assesses within the span of an income year, otherwise out of logical necessity, the assessed would also be entitled to include in his return an income which accrues to him after the expiry of the income year but this surely would not be in accordance…

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