Prosecution for improper use of NTN Certificate Section 194 o | Regulatory Updates Of Pakistan

Prosecution for improper use of NTN Certificate

Section 194 of Income Tax Ordinance, 2001 has prescribed prosecution for improper use of NTN (National Tax Number) Certificate.

The Federal Board of Revenue (FBR) issued the Income Tax Ordinance, 2001 updated up to June 30, 2021. The Ordinance incorporated amendments brought through Finance Act, 2021.

Following is the text of Section 194 of Income Tax Ordinance, 2001:

194. Prosecution for improper use of National Tax Number Certificate .— A person who knowingly or recklessly uses a false National Tax Number Certificate including the National Tax Number Certificate of another person on a return or other document prescribed or used for the purposes of this Ordinance shall commit an offence punishable with a fine not exceeding fifty thousand rupees or imprisonment for a term not exceeding two years, or both.

Source: CustomNews
--------------------------------------------------------
for News and Updates of Regulatory & Business Join "Regulatory Updates of Pakistan" by using this link: t.me/RegulatoryUpdatesOfPakistan

& for Real estate Join "Real Estate Updates of Pakistan" by using this link: t.me/RealEstateUpdatesOfPakistan

So hurry up
Don't wait, to get Updates