Tax Book 2023

Method of Accounting & Records Chapter- 11

3. Capital gains a) Evidence of cost of acquiring the capital asset;

b) Evidence of deduction for any other costs

claimed; and

c) Evidence in respect of consideration received on

disposal of the capital asset.

4. Income from other sources

(a) Dividend a) Dividend warrants

(b) Royalty a) Royalty agreement

(c) Profit on debt a) Evidence and detail of profit yielding debt;

b) Evidence of profit on debt and tax deducted

thereon, like certificate in the prescribed form or

bank account statement; and

c) Evidence of Zakat deducted, if any.

(d) Ground rent, rent from the sub-

lease of land or building, income

from the lease of any building

together with plant or machinery

and consideration for vacating the

possession of a building or part

thereof:

a) Lease agreement and

b) Lease termination agreement.

Annuity or Pension a) Evidence of amount received.

(e) Prize money on bond, winning

from a raffle, lottery or cross word

puzzle

a) Evidence of income and tax deducted thereon, like

certificate in the prescribed form.

(f) Provision, use or exploitation of

property

a) Agreement

(g) Loan, advance, deposit or gift a) Evidence of mode of receipt of a loan, advance,

deposit or gift i.e., by a crossed cheque or through

a banking channel.

(h) General a) Evidence of deduction for any other expenditure

claimed.

General form of books of accounts, documents and records [Rule 32]

The books of accounts, records and other documents required to be maintained by a taxpayer

under these rules may be kept on electronic media, provided sufficient steps have been taken to

ensure the sanctity and safe keeping of such accounts, documents and records.

The books of accounts, documents and records required to be maintained by a company under

these rules shall be maintained in accordance with international accounting standards and as

required under the Companies Ordinance, 1984.

Books of account, documents and records to be kept at the specified place [Rule 33]

(A) Where person derives business income:

The books of accounts, documents and records required to be maintained by a taxpayer under these

rules shall be kept at the place where the taxpayer is carrying on the business or, where the

business is carried on in more places than one, at the principal place of business or at each of such

places if separate books of accounts are maintained in respect of each place.

(B) Where person derives income other than business: