Tax Commentary - Riaz Ahmad, Saqib, Gohar & Company

Income Tax Ordinance, 2001
Unexplained income or assets

SECTION : 111 Sub-Section (2), (4)

Comments :

The mischief of this section is being restricted whereby no addition on account of unexplained income or assets can be made which relates to the period beyond preceding five tax years or assessment years.

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	Definition Deduction in computing income Deductions not allowed Depreciation Initial Allowance Profit on debt... Consumer Loan Accural basis accounting Exemptions and tax provisions Group Relief Workers' Participation Fund Profit on debt The Central Board of Revenue Unexplained income or assets Minimum tax on the income Tax on Income of certain persons Return of income To furnish a return of income Wealth statement Revision by the Commissioner Appeal to the Commissioner Alternate Dispute Resolution Due date for payment of tax Advance tax paid by the taxpayer Imports Payments to non-residents Payments for goods and services Income from property Petroleum Products Exemption or lower rate certificate Collection or deduction of tax As a final tax Payment for delayed refunds Audit Additional tax Delegation Brokerage and Commission