What are the penalties for failure to give notice and obstruction?

 

Where a  person fails to give notice of the discontinuance of the person‘s business as required under section 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.
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.

Penalty  for  obstruction:

Where any person obstructs the  Commissioner or a  taxation officer in the discharge of the Commissioner or officer‘s functions under this Ordinance, the Commissioner may impose a penalty on the person not exceeding ten thousand rupees.
For More Details visit FBR also view our other blogs

Suggested Blog: How to become Filer

Comments

Post a Comment

Popular posts from this blog

Is CNIC and NTN number are same?

Image
No, the CNIC and NTN numbers are two different numbers. The CNIC is a 13-digit number that consists of the first three parts of a five-part section that gives different demographic information and the second part is his family number and the last part represents your gender group. But the NTN number is completely different this number has two digits and is 8 digits. The NTN number is generated sequentially. CNIC and NTN have been different numbers but the FBR has announced that from the 2018-18 financial year they will both be equal. The announcement to include in the CNIC as NTN figures in effect from the last fiscal year 2018 - 19, the Federal Board of Revenue (FBR) are all set to use the details of companies to extend the tax base, it is read. The Federal Board of Revenue has said NADRA has issued CNIC numbers to NTN (National Tax Number) for all Pakistanis and anyone who submits tax forms can use their CNIC instead of NTN issued by Fbr. Please check blogs for more informatio...
Read more

Minimum tax to apply on non-resident PE companies

KARACHI: The minimum tax on turnover has been proposed to impose on non-resident companies having permanent establishment (PE) in Pakistan. The amendment in Section 113 of the Income Tax Ordinance, 2001 has been proposed through Finance Bill, 2020. According to EY Ford Rhodes Chartered Accountants the Section 113 of the Ordinance levies minimum tax on a person based on his turnover where such person is not liable to pay tax due to various reasons listed therein. However, the levy of minimum tax in case of corporate taxpayers, is only applicable on resident companies. This means that foreign companies having a permanent establishment in Pakistan (including a branch) are not subject to minimum tax. The Finance Bill 2020 has now proposed to include non-resident companies having a permanent establishment in Pakistan under the domain of minimum tax on turnover. Consequently, such companies would be required to compute minimum tax under Section 113 of the Ordinance for determina...
Read more

How to apply for NTN online

Image
You can apply for NTN through the website: https://e.fbr.gov.pk , by following steps given: Step 1: Go to https://e.fbr.gov.pk to apply for NTN Step 2: From the drop-down menu ‘e-Registration’, select new e-registration to start with a new application. Step 3: Select the application type (New Registration, Change in Particulars’ ST FED Registration, Duplicate Certificate) Step 4: Select the taxpayer type (Individual, AOP, or Company) Step 5: Enter the CNIC / NTN / Reg. Inc, according to the selected taxpayer type, Name and image character then click ok to proceed. Step 6: Already selected category will appear on the next screen (Individual, AOP, and Company). Step 7: After the completion of the online registration form, verify and submit the application if you want to apply online. To process from TFC, submit the application along with documents at our TFC counter. Step8: A token number will be assigned to the application for further processing/ approval/inquiry. N...
Read more