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The future of non filers in Pakistan after 30-june-2019
The document outlines regulations for non-filers under income tax ordinance 2001 in Pakistan, defining non-filers as individuals not listed in the active taxpayers' list. It specifies mandatory tax filing for 2020, penalties for non-compliance, and detailed rules regarding imputed income and expenses. Additionally, it emphasizes the responsibilities of withholding agents and encourages individuals to file their taxes to avoid penalties.
The future of non filers in Pakistan after 30-june-2019
- 1. The Future ofNon-filers FROM 01-07-2019 Under Income Tax Ordinance, 2001 of Pakistan
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- 3. Non-filers - TermDeleted now defined as persons not appearing in Active Taxpayers’ List – Non-ATLs
- 4. Specialized Rules forNon-ATLs The 10th Schedule of Income Tax Ordinance, 2001
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- 6. Compulsory Income Tax Returnfiling for 2020
- 7. In case ofnon-filing Provisional Assessment by Commissioner Inland Revenue
- 8. Wealth Statement for2020 To be filed compulsorily Contains Wealth and Personal Expense
- 9. Imputed Income The incomeon which tax was withheld will be deemed imputed income and concealed income Personal expenditure in excess of imputed income will be deemed concealed expenses
- 10. Penalty for non-filing ofreturn and concealment of income and expenses
- 11. Audit Your case canbe selected for detailed audit
- 12. Penalty on withholdingagents All withholding agents are required to submit full particulars of non-ATL persons whose tax was withheld, else they will face penalty
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- 14. Profit on Debt BankAccounts, Investments in Saving Schemes
- 15. Supplies of goods Providingof services
- 16. Transport Services Goods andPassengers Owners of vehicles and Operators
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- 18. Exporters and ExportHouses
- 19. Prize Bonds andLotteries
- 20. Petrol Pumps and CNGStations
- 21. Motor Vehicle Registration andTransfer
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- 23. Brokerage and Commission AdvertisingAgencies, Life Insurance Agents and Other Commission Incomes
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- 25. Why waste time andmoney Be a filer today
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- 27. Share & Subscribe YouTube Channel: SayyidMansoob Hasan https://www.youtube.com/channel/UCsHJIpOZhkSE9Pvl yJMS5cw?view_as=subscriber
- 28. Contact us MANSOOB &CO. Cost and Management Accountants Tax, Corporate and Management Consultants Mediators and Arbitrators Phone: +92 21 35881453 WhatsApp: 0092 333 3291290 Email: [email protected] Website: www.mncglobal.com Find on Google Maps: Write > Mansoob & Co.
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