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Place of business: NTN display a must

Finance Act, 2013 has introduced a new section in the Income Tax Ordinance 2001 to make it compulsory for every person deriving income from business chargeable to tax to display his National Tax Number at a conspicuous place of his business.

The income tax circular 6 of 2013 issued here on Friday said that through Finance Act, 2013 a new section has been introduced by virtue of which every person deriving income from business chargeable to tax, who has been issued a National Tax Number, shall display his NTN at a conspicuous place at every place of his business. If any person is found violating this provision he shall be liable for a penalty of Rs 5,000.

Copyright Business Recorder, 2013



 



 
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Banking Review 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyMarch
Trade Balance $-1.586 bln
Exports $1.932 bln
Imports $3.518 bln
WeeklyApril 16, 2015
Reserves $16.818 bln