Returns and Assessments Chapter- 17
to Rs. 13,000,000 given to Nadeem Ahmad, a shareholder of RFPL, by treating the amount of
loan as dividend. The notice was served to the company on 30 August 20X8.
According to RFPL’s records, the loan was given to Nadeem Ahmad on 25 May 20X7 when
accumulated profit of the company was Rs. 12,000,000.In the light of the provisions of the Income Tax Ordinance, 2001 explain whether you agree with
the notice issued to RFPL by the Officer of Inland Revenue.Q. NO. 4 (b) AUTUMN 2018
Specify the circumstances under which the Commissioner of Income Tax has powers to issue
notice demanding a return of income from certain person(s) for a period of less than twelve
months. Also state the powers of the Commissioner if such person fails to furnish the return as
required, within the specified time.
Q. NO. 4(b) Autumn 2017
List the situations under which an original assessment can be amended or an amended assessment can be
further amended by the Commissioner of Income Tax. Also state the time period within which the original or
the previously amended assessment order can further be amended.
Q. 5(a) March 2017 List the persons who are required to file a tax return under the provisions of the Income
Tax Ordinance, 2001.
Q. 5(b) March 2017 In the light of the provisions of the Income Tax Ordinance, 2001:
(a) Identify the circumstances under which the Commissioner of Income Tax may require a person to
furnish a return of income for a period of less than twelve months.
(b) State the consequences if a person fails to furnish the return as required in (i) above.
Q. 3 September 2015 Mr. Baqir was working in Pakistan Embassy in United Kingdom for the past ten
years. He returned back to Pakistan five months back and is now working with a British conglomerate
in Islamabad. He is in the process of filing his return of income for tax year 20X5 and has sought your
advice on the following matters:
(i) Whether I would be a non-resident for tax year 2015 as my period of stay in Pakistan is less
than 183 days under the Income tax Ordinance, 2001?
(ii) Whether I can claim a foreign levy paid on my foreign income, equivalent to PKR 15 0, 0 00, as
foreign income tax in my return of income to avoid double
(iii) Taxation under the Income Tax Rules, 2002? Whether I would be required to file a wealth
statement and what particulars should I disclose in the statement under the provisions of
the Income Tax
(iv) Ordinance, 2001? For the purpose of disclosure of securities in wealth statement, what would be
regarded as supportive evidence in respect of securities I acquired after my return to
Pakistan under the Income Tax Rules, 2002?
(v) I jointly with my brother Owais own a two story house in Lahore. Each story of the house has
been rented out to two separate families. What would be the tax treatment of income from
such property under the Income Tax Ordinance, 2001?
Q.NO.2 Spring 2015
(a) List the persons who are required to furnish a return of income for a tax year under the Income Tax
Ordinance, 2001.
(b) Specify the circumstances under which the Commissioner has powers to issue notice demanding a
return of income from certain person(s) for less than one year.
(c) State the powers of the Commissioner if a taxpayer fails to furnish return as required under part (b)
above, within the specified time.
Q. No. 2 (c) Spring 2014
State the requirements which a person should comply with, on discontinuing a business.