What is Briansclub see complete details

    What is Briansclub see complete details? Briansclub is a carding store that enables people to buy stolen credit cards and information. In this article, we will cover everything about this web store. If you want to know further, then you are at the right place. Read this article from start to end if you want…

    Read More

      ASSESSMENT OF COMPANIES

      ASSESSMENT OF COMPANIES COMPUTATION OF TAXABLE PROFIT WHERE PROFIT AND LOSS ACCOUNT IS AVAILABLE The debit side of the profit and loss account consists of the expenses which have been incurred due during the accounting year whether paid or not. The expenses may be of capital nature or revenue nature. The credit side consists of…

      Read More

        Liability not Paid

        Liability not Paid Where a person has been allowed a deduction for any expenditure incurred in deriving income chargeable to tax under the head “income from business” and the person has not paid the liability or a part of the liability to which the deduction relates within three yeas of the end of the tax…

        Read More

          TAX ACCOUNTING

          TAX ACCOUNTING METHOD OF ACCOUNTING Section 32(1) of the Income Tax Ordinance, 2001, deals with the accounting method. According to this section, income chargeable to tax shall be computed in accordance with the method of accounting regularly employed by such person. DIFFERENT TYPES OF ACCOUNTING METHODS [Section 32(2)] There are only two methods of accounting,…

          Read More

            ALTERNATIVE DISPUTE RESOLUTION

            ALTERNATIVE DISPUTE RESOLUTION This mechanism of amending the grievances of taxpayers has been introduced by Finance Act, 2004. It is parallel to conventional appellate system as elaborated above. The main features of this system are as follows: Application of the Aggrieved Party 1. A person who has filed an appeal and the appeal is pending…

            Read More

              Appeal to the Supreme Court

              Appeal to the Supreme Court Section 134 of the Income Tax Ordinance, 2001, provided right of appeal to the Supreme Court both for the taxpayer and the department against any judgement of the High Court delivered on a reference on a question of law under section 133. This right was subject to the certification by…

              Read More

                Reference to High Court

                Reference to High Court If either the taxpayer or the Commissioner Inland Revenue is not satisfied with the decision of the Appellate Tribunal, he may prefer an application to the High Court. The application should be in the prescribed form and should include the statement of case stating any question of law arising out of…

                Read More

                  Procedure of Appeal to Commissioner Inland Revenue (Appeals)

                  Procedure of Appeal to Commissioner Inland Revenue (Appeals) An appeal may be filed by a person against the appealable orders (as mentioned above) of Commissioner Inland Revenue or a taxation officer with the Commissioner Inland Revenue (Appeals). If the income tax department is not satisfied with the orders of Commissioner Inland Revenue, an appeal cannot…

                  Read More

                    APPEALS

                    APPEALS If a taxpayer or income tax authority is not satisfied with an order passed under the Income Tax Ordinance, 2001, a procedure to remove the grievance has been provided in the law. In this Chapter, we shall discuss this procedure. However, it should be clearly understood that an appeal cannot be made against each…

                    Read More

                      FUNCTIONING OF THE APPELLATE TRIBUNAL INLAND REVENUE

                      FUNCTIONING OF THE APPELLATE TRIBUNAL INLAND REVENUE The Chairperson of the Appellate Tribunal Inland Revenue may constitute benches to perform the functions of Tribunals. A bench normally consists of two members. However, a larger bench may also be constituted by the Chairperson. A bench usually consists of equal number of judicial and accountant members but…

                      Read More