Law: Income Tax Ordinance, 1979

Section: 87,53,62,63,65,68,75,80,80A,91,98,99,105 ,106,107,108,109,110,111,156,129,112

Law: Income Tax Act, 1922

Section: 18A(6),18A(8),129,30

Law: Income Tax Rules, 1982

Section: 192

Law: Income Tax Act, 1961

Section: 215,217,207,208,209,000,000,000,000

(a) Income Tax Ordinance (XXXI of 1979)--- ----Ss. 87 & 53---Advance tax---Additional tax on failure to pay advance tax--­Provision of S.87 Income Tax Ordinance, 1979 is required to be read with the provisions contained in S.53 of the said Ordinance. (b) Income Tax Ordinance (XJXI of 1979)--- ----S. 53---Payment of advance tax---History of the legislation on payment of advance tax traced. (c) Income Tax Ordinance (XXXI of 1979)-- ----Ch. VII--Assessment"---Connotation---Word "assessment" has a very wide meaning---Assessment is entire set of proceedings whereby total income of an assessee is determined and on the basis thereof the tax payable is computed and thereafter the recovery of tax is effected---Process of determining the total income, computation of tax payable and the recovery of such tax collectively and cumulatively form part of assessment. Chapter VII of the Income Tax Ordinance, 1979 is titled as "assessment" and is comprising sections 55 to 67. Chapter VII contains the procedural provisions in respect of assessment. The process starts with the filing of return of total income under section 55 and ends with section 67, which has provided for reference to valuers and has conferred authority on C.B.R for making rules to give effect to the provisions of section 67. Section 62 provides that the Deputy Commissioner of Income-tax, after considering the evidence on record, shall by an order in writing, assess the total income of the assessee and determine the tax payable by him on the basis of such assessment. Section 67 has provided that where in the course of any "assessment proceedings" the Deputy Commissioner is of the opinion that the value of any capital asset shown in any return, statement or other document furnished by an assessee is not correct he may, either on an application by the assessee or otherwise, refer the matter to a valuer for ascertaining the proper value of such asset. These provisions indicate that the assessment is entire set of proceedings whereby total income of an assessee is determined and on the basis thereof the tax payable is computed and thereafter the recovery of tax is effected Thus, process of determining the total…

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