Income Tax Ordinance, 2001

CHAPTER-X

PROCEDURE PART II ASSESSMENTS

Income Tax Ordinance, 2001 CHAPTER-X PROCEDURE PART II ASSESSMENTS From: 2024-12-29 - To: 0000-00-00 1[***] _________________________________________________________________ 1-Section 120A was omitted vide the Finance Act, 2013 (Act No. XXII of 2013) assented on 29th June, 2013. At the time of omission section 12A was as under: “120A. Investment Tax on income.- (1) Subject to this Ordinance, the Board may make a scheme of payment of investment tax in respect of undisclosed income, representing any amount or investment made in movable or immovable assets. (2) Where any person declares undisclosed income under sub-section (1) in accordance with the scheme and the rules, the tax on such income called investment tax shall be charged at such rate as may be prescribed. (3) Where a person has paid tax on his undisclosed income in accordance with the scheme and the rules, he shall- (a) be entitled to incorporate in…