Law: Income Tax Ordinance, 1979

Section: 50,50(5),50(4)

(a) Income Tax Ordinance (XXXI of 1979)---S. 50(5)---Advance income-tax---Payment of---Filing of return--­Scope---Person who is an importer and has no other source of income and has paid the tax under the provisions of S.50(5) of the Income Tax Ordinance, 1979, the payment so made is deemed as full and final discharge of his liability and such importer is not required to file any return. (b) Income Tax Ordinance (XXXI of 1979)--- ----Ss. 50(4) & 50(5)---Constitution of Pakistan (1973), Art. 199--­Constitutional petition---Advance income-tax---Deduction o f tax at source---Supply of imported goods to prospective buyers---Issuance of exemption certificate---Authorities denied the issuance of the certificate for the reason that the assessee had not filed irrevocable declaration of option for the presumptive tax regime---Validity---Deduction of tax at the time of such supply would be a deduction of tax in the account of the buyers and it would not be a payment made by the importer--Once the importer had paid tax under S.50(5) of the Income Tax Ordinance, 1979, in full and final discharge of his tax liability, the importer was entitled to deal with his business for supply of imported goods without any further liability---Importer was entitled to the issuance of exemption certificate under S.50(4) of the Income Tax Ordinance, 1979---High Court remanded the case to the Authorities for decision afresh---Constitutional petition was allowed accordingly. (c) Income Tax Ordinance (XXXI of 1979)--- ----Ss. 50(4) & 50(5)---Deduction of tax at source---Opting for presumptive tax regime---Filing of irrevocable declaration---Effect--­Filing of such declaration opting for presumptive tax regime would only be relevant in the nature of cases falling under S.50(4) of the income Tax Ordinance, 1979---Where case of the assessee was covered under the provision of S.50(5) of the Income Tax Ordinance, 1979, the assessee could not be declined the issuance of exemption certificate merely on the plea that he failed to submit irrevocable declaration of option of the presumptive tax regime. THIS JUDGMENT DELIVERED BY The petitioner has filed the present writ petition feeling…

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