When a person:
You make a statement to the tax authority that is false or misleading something or omits a statement made to tax authorities or any other thing or thing other than a false or misleading statement; and tax debt (including pre-section 147 tax debt) calculated on the basis of the statement is less than what would have been if the statement was false or misleading (a difference to what is called – a tax deficiency would be a penalty for equal penalty where the statement or omission was deliberate or negligent, two hundred percent tax; or anywhere else (except where section 2 (2) applies), a twenty-five percent tax deficit.
In the case of an assessment order under section 120, no penalty shall be imposed under subsection (1) until the tax arises when the taxpayer has taken a position contrary to the operation of this Ordinance to the taxpayer. position.
The references in this section to the statement made to the income tax authorities are an indication of the written or oral statement of the authority applicable to the performance of the functions of the authorities under this Ordinance, and shall include a statement made –
Upon request, certificate, declaration, notification, return, appeal or other document made, prepared, furnished, completed or completed under this Ordinance.It must be provided under this Ordinance. For anyone with information or expectations that the statement will be forwarded to the income tax authorities.
For more details visit the FBR and view our other blog.
Also Read:
How to become filer
How to check FBR filer status
