THE MOST ON DOCSITY
Find users

Basic Rules Of Income Tax-Taxation Managment-Lecture Notes

Lecture Notes, Taxation Management

Post: August 4th, 2012
Description
Tax is an instrument of fiscal policy. There are different types of taxes. Tax is compulsory contributions of wealth levied upon persons by the state, to meet the expenses incurred in providing common benefits upon the residents. This lecture includes: Income, Tax, Act, Ordinance, Integral, Part, Enactment, Law, Administrative, Instructions, Case
Tax is an instrument of fiscal policy. There are different types of taxes. Tax is compulsory contributions of wealth levied upon persons by the state, to meet the expenses incurred in providing common benefits upon the residents. This lecture includes: Income, Tax, Act, Ordinance, Integral, Part, Enactment, Law, Administrative, Instructions, Case
-
Embed this document

Report Report

Reason:

Send Message

Login or register to download this document!

If you are already registered, login otherwise Register , it just takes 1 minute!

Uploaded by:

usama

usama
Universityuni_20documents_40doc_answ
Embed this document
Get the App
Contents
LESSON 2.4 BASIC FEATURES OF INCOME TAX Background/ History Income Tax Act of 1922: At the time of independence, this Act prevalent in undivided India was adopted by the Government of Pakistan as its Income Tax Law. Income Tax Ordinance, 1979 First law on Income Tax was promulgated in Pakistan from 1st July, 1979. Income Tax Ordinance, 2001 To updates the tax laws and brings our law in accordance with international standards, this ordinance was promulgated on 13th September, 2001, which became effective from 1st July, 2002. IT rules 2002 These were promulgated by CBR on 1st July 2002 in exercise of powers granted under section 237 of the Ordinance. ƒ Rules are integral part of the main enactment / Law. ƒ I.T Ordinance 1979 stands repealed vide section 238 of the Ordinance. ƒ The Ordinance overrules all other laws for the time being in force (Sec 3). ƒ Federal Government empowered to allow exemptions to certain types of income or specific persons during financial year but required t..

Docsity.com

Learning becomes social!

Authentication required

This feature is reserved for registered user

Register Login

Docsity.com

Learning becomes social!

Authentication required

Hi!
In order to freely download all the documents on Docsity, please register or login:

Register Login