Income Tax Ordinance, 2001

CHAPTER-X

PROCEDURE PART X PENALTY

From: 2023-07-01 - To: 0000-00-00 1[***] ______________________________________________________________________ 1-Section 188 omitted by the Finance Act, 2010 (XVI of 2010). At the time of omission section 188 was as under:- “188. Penalty for failure to give notice.-{I) Where a person fails to give notice of the discontinuance of the person’s business as required under section i[117],the Commissioner may impose a penalty on the person not exceeding the amount of tax payable by the person for the tax year in which the business was discontinued. (2) Where a person fails to give notice of the person’s appointment as liquidator as required under section 141, the Commissioner may impose a penalty on the person not exceeding ten thousand rupees.” i. Substituted for the figure “124”by the Finance Act, 2003 (I of 2003), (Assented on 16th June, 2003) From: 2010-07-01 - To: 2023-06-30 1[***] ______________________________________________________________________ 1-Section 188 omitted by the Finance Act, 2010 (XVI of 2010). At the time of omission section 188 was as under:- “188. Penalty for failure to give notice.-(1) Where a person fails to give notice of the discontinuance of the person’s business as required under section i[117],the Commissioner may impose a penalty on the person not exceeding the amount of tax payable by the person for the tax year in which the business was discontinued. (2) Where a person fails to give notice of the person’s appointment as liquidator as required under section 141, the Commissioner may impose a penalty on the person not exceeding ten thousand rupees.” i. Substituted for the figure “124”by the Finance…