11-01-2011, 05:54 PM
Right. Tax deducted at source from exporters is final. s.154(4)of the INcome Tax Ordinance, 2001.
Every individual whose income is subject to final tax deduction shall file wealth statement if deduction of tax is equal to or more
than thirty five thousand rupees. section 116(4), ITO, 2001.
There is no wealth tax.
Purpose of wealth statement is to determine whether one's income justify his assets.
Wealth statement shows amount that you have spent to acquire asset. So you have to show cost price paid at the time of purchase of your old car plus any value addition cost.
You have to mention agricultural property
Every individual whose income is subject to final tax deduction shall file wealth statement if deduction of tax is equal to or more
than thirty five thousand rupees. section 116(4), ITO, 2001.
There is no wealth tax.
Purpose of wealth statement is to determine whether one's income justify his assets.
Wealth statement shows amount that you have spent to acquire asset. So you have to show cost price paid at the time of purchase of your old car plus any value addition cost.
You have to mention agricultural property
