Offences and Prosecutions Chapter- 24
search premises, and
(g) declare business bank account(s) in
the registration form or updated
registration form or return of income
or wealth statement,
(h) integrate his business with Board’s
computerized system; or
(i) generate tax invoice verifiable by the
Board’s system;”;
If a person continues the offence and not
filed the income tax return or wealth
statement, without reasonable excuse,
within the period specified by the Court,- Prosecution for false statement in
verification
Rs.100,000 or imprisonment for a
term not exceeding 3 years, or
both.192
- Prosecution for concealment of income to
the extent that has impact on revenue of
Rs.500,000 or more
Imprisonment up to 2 years or
with fine or both.192A
- Prosecution for concealment of an
offshore asset
Any person who fails to declare an
offshore asset to the CIR or
furnishes inaccurate particulars of
an offshore asset and revenue
impact of such concealment or
furnishing of inaccurate particulars
is Rs. 10 million or more shall
commit an offence punishable on
conviction with imprisonment up to
three years or with a fine up to Rs.
500,000 or both.192B
- Prosecution for failure to maintain records (a) where the failure was
deliberate, a fine not
exceeding Rs.50,000 or
imprisonment for a term not
exceeding 2 years, or both; or
(b) in any other case, a fine not
exceeding Rs.50,000.
193
- Prosecution for improper use of National
Tax Number Card
Fine not exceeding Rs.50,000 or
imprisonment for a term not
exceeding 2 years, or both.194
- Prosecution for making false or
misleading statements
A person who -
(a) makes a statement to an income
tax authority that is false or
misleading in a material particular;
or
(b) omits from a statement made to an
income tax authority any matter or
thing without which the statement is
misleading in a material particular.
(i) where the statement or
omission was made knowingly
or recklessly, with a fine or
imprisonment for a term not
exceeding 2 years, or both;
(ii) in any other case, with a fine.