Lecture basic features of income tax background/History Income Tax Act of 1922



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Sec. 2(66) “Taxpayer” means any person who derives an amount chargeable to tax under this ordinance; o Any representative of a person who derives an amount chargeable to tax under this ordinance
Any person who is required to deduct or collect tax under part V of chapter X and chapter XII Any person required to furnish a return of income or pay tax under this ordinance.
Exercises on determination of Tax Year

Exercise 1: Determine Tax year relating to following accounting period:

  1. 1st July 2006 to 30th June 2007

  2. 1st July 2007 to 30th June 2008




  1. 1st July 2008 to 30th June 2009


Answers: Tax year 2007Tax year 2008Tax year 2009

Exercise 2: Determine tax year pertaining to accounting periods given here under:



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