TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Circulars
of of All Circulars
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Board Clarifies Rules on Voluntary Income Disclosure: Asset Valuation, Eligibility, and Procedures Post-Tax Searches Explained.</h1> The circular issued by the Board provides clarifications on the Voluntary Disclosure of Income and Wealth (Amendment) Ordinance, 1975. It addresses several queries from Income-tax Commissioners regarding asset declarations, eligibility for filing under the Ordinance, and procedures following tax searches. It specifies that the declared income should match the assets' acquisition cost, not their market value, and the nature of the declared income will not be questioned. The circular also clarifies that declarations can be made even if prior assessments have been set aside, provided certain conditions are met. A certificate confirming the disclosed income and tax payment will be issued post-compliance.
TaxTMI 
TaxTMI 
