Section

 59.  Self-assessment.-

(1)   Where the return of total income for any income year furnished by the assessee not being (words "a public company or" omitted by Finance Ordinance, 2001) a company engaged in the business of banking, leasing and modaraba, under section 55 qualifies for acceptance in accordance with the provisions of a scheme of self assessment made by the Central Board of Revenue for that year or under any instructions or orders issued thereunder, the Deputy Commissioner shall assess, by an order in writing, the total income of the assessee on the basis of such return and determine the tax payable on the basis of such assessment.

Explanation. -For the removal of doubt it is hereby declared that a return of total income furnished under section 55 does not include a return of total income furnished under section 57.

(1A) Notwithstanding anything contained in sub-section (1), the Central Board of Revenue or any authority subordinate to it, if so authorised by the Central Board of Revenue in this behalf, may, in accordance with a scheme referred to in sub-section (1), select out of returns referred to in that sub-section any cases or classes of cases or persons or classes of persons, howsoever determined, for assessment under section 62, and the Deputy Commissioner shall proceed to make the assessment under that section or, if the circumstances so warrant, under section 63, accordingly.

(3)   In assessing the total income and determining the tax payable under sub-section (1), the Deputy Commissioner may make such adjustments as may be necessary, including any adjustment under sections 34, 35, 36, 37, 38, 50, 53 or 54, the rules made under section 165, the First Schedule and the Third Schedule.

(4)   No order under sub-section (1) shall be made in any case after the thirtieth day of June of the financial year next following the income year in respect of which a return of total income has been furnished under section 55:

Provided that if such order is not passed by such date, order under sub-section (1) shall be deemed to have been passed on such date.”;

 

Sub-section (4) omitted which previously reads as follows :

(4)      No order under sub-section (1) shall be made in any case after the thirtieth day of June of the financial year next following the income year in respect of which a return of total income has been furnished under section 55:

Provided that if such order is not passed by such date, the acknowledgement issued under section 55A in respect of the return of total income shall be deemed to be the assessment order and notice of demand referred to in section 85.

(1)   If the Deputy Commissioner is satisfied without requiring the presence of the assessee or the production by him of any evidence that a return furnished under section 55 is correct and complete, he shall, by an order in writing assess the total income of the assessee and determine the tax payable on the basis of such return.

(2)   The provisions of sub-section (3) of section 59 shall apply to an assessment and determination under this section as they apply to an assessment and determination under that section.

 

(1)   Where the return of total income of an assessee, being an individual, an un-registered firm, a registered firm, an association of persons or a Hindu undivided family, for the income year relevant to the assessment year commencing on or after the first day of July, 1988, and ending on or before the thirtieth day of June, 1990, qualifies for acceptance in accordance with the provisions of a scheme of Simplified Procedure for Assessment made by the Central Board of Revenue for that year, or under any instructions or orders issued thereunder, the total income of the assessee shall be assessed on the basis of the said return.

(2)   After receipt of a return of total income referred to in sub-section (1), an acknowledgement of its receipts, in the prescribed form, shall be issued by such income tax authority subordinate to the Commissioner as may be authorised in this behalf by the Commissioner.

(3)   The acknowledgement referred to in sub-section (2) shall be deemed to be an order of assessment in respect of the return of total income referred to in sub-section (1).

 

(1)   Notwithstanding anything contained in this Ordinance, the Central Board of Revenue, may make scheme or schemes of fixed tax or minimum fixed tax-

(a)    for persons maintaining small establishments to carry on business or profession whereunder an assessee may opt to pay fixed amount of tax without being required to furnish a return of his total income under section 55 or 56 and receipt obtained for payment of such tax shall deem to be an order of assessment under section 59A;

(b)    for persons carrying on any business or profession in shopping centres and commercial markets whereunder an assessee shall pay fixed amount of tax; and

(c)    for persons engaged in or carrying on any business or profession, whereunder an assessee may be required to pay a minimum fixed amount of tax without being required to furnish a return of his total income under section 55 or 56 and receipt obtained for payment of such tax shall be deemed to be an order of assessment under section 59A.

(2)   The scheme or schemes referred to in sub-section (1) may provide for such classes of persons by whom fixed tax may become payable, at such rates, and in such areas, as may be specified in the scheme.

(3)   The Central Board of Revenue may, by notification in the official Gazette, make provisions relating to the payment and collection of, or any other matter connected with or incidental to, the fixed tax.

(1)   Notwithstanding anything contained in this Ordinance, the Central Board of Revenue may, make scheme of payment of tax in respect of undisclosed income.

(2)   Where any person declares his undisclosed income in accordance with the scheme and the rules the tax on such income shall be charged at such rate as may be prescribed.

(3)   Where a person has paid tax on his undisclosed income in accordance with the scheme and the rules, he shall -

(a)    be entitled to incorporate in his books of account such undisclosed income in tangible form; and

(b)    not be liable to pay any tax, charge, levy, penalty or prosecution in respect of such income under this Ordinance.

(4)   For the purpose of this section "undisclosed income" shall mean any income (including any investment to be deemed as income under section 13 or any other deemed income) for any year or years which was chargeable to tax but was not so charged.

Notwithstanding anything contained in this Ordinance, the Central Board of Revenue, may make a scheme for the payment of fixed or minimum tax by persons falling within section 3AA of the Sales Tax Act, 1990.