Category: Income Tax

Below notes written by Syed Tauqeer Bukhari (Advocate Supreme Court of Pakistan) Designated non-financial businesses and professions [DNFBPs] The following are the DNFBPs Real estate agents, builders, developers, Precious metals and precious stone dealers including jewelers and gem dealers, Lawyers, Accountants and other legal professionals Responsibilities of Real Estate agents under...

Section 181 - Taxpayer Registration Every taxpayer shall apply in the prescribed form and in the prescribed manner for registration The Commissioner having jurisdiction over a case, where necessitated by the facts of the case, may also register a taxpayer in the prescribed manner. Taxpayer's registration scheme shall be regulated...

Section 181B - Taxpayer Card The Board may make a scheme for introduction of tax-payer honor card for individual taxpayers, who fulfill a minimum criteria to be eligible for the benefits as contained in the scheme.

Section 181AA - Compulsory Registration in Certain Cases Notwithstanding anything contained in any law, for the time being in force, any application for Commercial/Industrial Connection of electricity or Natural Gas, shall not be processed and such connection shall not be provided unless the person applying for electricity or gas connection...

Section 181A - Active Tax Payer's List The Board shall have the power to institute Active Tax Payers' list. Active Tax Payers' list shall be regulated as may be prescribed Illustration: ATL stands for Active Payer List, in this list name of all those NTN's who have submitted tax return....

Section 181C - Displaying of NTN (National Tax Number) Every Person deriving Income from business chargeable to tax, who has been issued NTN, shall display his NTN at a Conspicuous(Clearly Visible) place at every place of his Business. Illustration: Every Company & Business who have National Tax Number should display NTN...