FBR ISSUES MORE THAN 120,000 INITIAL NOTICES UNDER SECTION 144 OF INCOME TAX ORDINANCE, 2001
July 25, 2014 More than 120,000 initial notices (u/s 114 of the Income Tax Ordinance 2001) have been issued – based on large potential fiscal liabilities and location to ensure the initiative is nationwide- and more than 38,000 second notices (under section 122C) which are to be followed by provisional assessment, collection procedures, and penal…