Complete Income Tax Law

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133rd update dated April 30, 2018

This update covers:-

-Income Tax (Amendment) Ordinance, 2018.

The changes are briefly listed as follows:-

Part I Income Tax Ordinance

1.         On page 158A, Section 111(2) has been amended by Income Tax (Amendment) Ordinance, 2018 dated April 08, 2018. This is re: Unexplained income or assets.

2.         On page 170A, Section 114(1) has been amended by Income Tax (Amendment) Ordinance, 2018 dated April 08, 2018. This is re: Return of income.

3.         On page 182A, Section 116A has been added by Income Tax (Amendment) Ordinance, 2018 dated April 08, 2018. This is re: Foreign income and assets statement.

4.         On page 376A, Section 182 has been amended by Income Tax (Amendment) Ordinance, 2018 dated April 08, 2018. This is re: Offences and penalties.

5.         On page 437, First Schedule Division I has been amended by Income Tax (Amendment) Ordinance, 2018 dated April 08, 2018. This is re: Rate of tax for Individual and AOPs.