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Bill Draft;
"114C. Restriction on economic transactions by certain person. __ (1) Notwithstanding anything contained in any law for the time being in force, __
(b) any application or request by any ineligible person, to any authority responsible for registering, recording or attesting transfer of any immovable property, more then such value in aggregate in a tax year as may e notified by the Board from time to time, shall not be accepted or processed by such authority:
(5) For the purposes of this section, __
(a) "cash equivalent assets" shall be such assets as may be prescribed;
(b) "eligible person" shall mean a person, who has filed a return of income for the tax year immediately preceding the year of transaction mentioned in sub-section (1) and has sufficient resources in the wealth statement in case of an individual, or financial statement in case of a company of an association of persons, as the case may be, for such transaction:
(d) "ineligible person" shall mean a person who is not a n eligible person;
Income tax Includes;
Section-4 Tax on taxable income
Section-5 Tax on dividends
PART l
Section-9 Tax on taxable income
Section-10 Total Income
Section-11 Heads of income
PART ll
Section-12 Salary
PART lll
Section-15 income from property
PART IV
Section-18 Income from business
PART V
Section-37 Capital gains
PART Vl
Section-39 Income from other sources
PART Vll EXEMPTIONS AND TAX CONCESSIONS
PART Vlll LOSSES
PART lX DEDUCTIBLE ALLOWANCES
Section-60 Zakat
PART X TAX CREDITS
Chepter X
PROCEDURE
PART l RETURNS
Section-114 Return of Income
Section-114A Taxpayer's profile
Section-115 Persons not required to furnish a return of income
Section-116 Wealth statement
Section-147 Advance income tax
Section-148 Import
Section-149 Income from Salary
Section-153 Payment of goods, service and contract
Section-155 Income from Property
Section-231AA and 236P Advance tax on certain banking transection
Section-231B Advance tax at the time of registration of private motor vehicle
Section-234 Tax on motor-vehicles
Section-234A CNG Stations
Section-235A Tax collection from domestic electric bills (Electricity consumption)
Section-236 Tax collection from telephone users
Section-236B Advance tax on purchase of domestic air ticket
Section-236F Advance tax on cable operator and other electronic media
Section-236G Advance tax on sale to distributor, dealer and wholesalers
Section-236H Advance tax on sale to retailers
Section-236I Advance tax by educational institutions
Section-236U Advance tax on insurance premium
Section-236X Advance tax on Tobacco
Section-236Y Advance tax on remittance abroad through credit, debit or prepaid cards
