AIOU SOLVED ASSIGNMENT 2 TAXATION CODE 456 AUTUMN 2015
Taxation helps to any government to generate income so aiou is offering this subject to the students to give them introduction about the tax. Code 456 is related with tax and we offering solved assignment for semester autumn 2015 and spring 2016, this is the second solved assignment. There are some penalties offences and prosecutions in tax if any do not obey any rule or section of taxation.
PENALTIES, OFFENCES AND PROSECUTIONS:-
Penalty for failure to furnish return of Total Income:-
Where any person, without a reasonable excuse, fails to furnish, within the rime allowed for the purpose:-
1) Annual return of income.
2) Return of income if required by commissioner of income tax by a notice.
3) Return of income required by the commissioner of income tax for additional assessment.
4) Return of income in case of discontinued business.
5) Return of income in case of persons about to leave Pakistan.
The commissioner of income tax shall impose upon such person a penalty. The amount of penalty will be equal to one tenth of one percent of the tax payable for each day of default subject to minimum of five hundred rupees and a maximum of twenty five per cent of tax payable.
The complete solution of assignment for this subject is in hard form and consisting on nine pages and we are uploading all these pages. You students can find and share this solved assignment to your colleagues and friends and class mates.