Income Tax Ordinance, 2001

CHAPTER-X

PROCEDURE PART I RETURNS

Income Tax Ordinance, 2001 CHAPTER-X PROCEDURE PART I RETURNS From: 2024-12-29 - To: 0000-00-00 1[114A. Business bank account.- (1) Every taxpayer shall declare to the Commissioner the bank account utilized by the taxpayer for business transactions. (2) Business bank account shall be declared through original or modified registration form prescribed under section 181.] ______________________________________________________________________ 1-For Section “114A” substituted by Finance Act, 2021, dated 30-06-2021. Earlier Section “114A” inserted by Finance Act, 2020, dated 30-06-2020, read as under: “114A. Taxpayer’s profile.- (1) Subject to this Ordinance, the following persons shall furnish a profile, namely:- (a) every person applying for registration under section 181; (b) every person deriving income chargeable to tax under the head, “income from business”; (c) every person whose income is subject to final taxation; (d) any non-profit organization as defined in clause (36) of section 2; (e) any trust or welfare institution; or (f) any other person prescribed by the Board. (2) A taxpayer’s profile- (a) shall be in the prescribed form and shall be accompanied by such annexures, statements or documents as may be…