BASIS OF INCOME TAX LAWS

BASIS OF INCOME TAX LAWS

     The Pakistan Government adopted the income Tax act,1922 after independence,In June 1958,a Taxation Inquiry committee was set up.Its final reports appeared in two volume,central Board of Revenue set up another taxation committee with the objective of simplifing the income tax act and procedure and streamlining the law in general.The Taxation Committee set up in Pakistan submitted its Interim Report in July 1971.Income Tax Ordinance,1979 was promulgated by the president of Pakistan on june 30,1979.So the 1979 Ordinance is the present Income Tax Law in Pakistan.

   We can summarise the position of income tax laws and practices in pakistan as under;-