Such person shall pay a penalty equal to the higher of: (a) 0.1% of the tax payable in respect of that tax year for each day of default; or (b) Rupees one thousand for each day of default. Minimum penalty: (i) Rs. 10,000 in case of an individual having 75% or more income from salary. (ii) Rs. 50,000 in all other cases. Maximum penalty: Not to exceed 200% of the tax payable. Penalty reduction: 75%, 50%, and 25% for filing within 1, 2, and 3 months of the due date, respectively.

Such person shall pay a penalty of Rs. 5,000 if the tax was paid within the due date and the statement is filed within 90 days. Otherwise, a penalty of Rs. 2,500 per day of default, subject to a minimum of Rs. 10,000. Note: If no tax was required to be deducted or collected, the minimum penalty is Rs. 10,000.

Such person shall pay a penalty of 0.1% of the taxable income per week or Rs. 100,000, whichever is higher.

Where any person fails to furnish a foreign assets and income statement within the due date.

Where any person fails to furnish a return of income as required under sub-section (3) of section 117 within the time specified in the notice.

Such person shall pay a penalty equal to the higher of: (a) 0.1% of the tax payable in respect of that tax year for each day of default; or (b) Rs. 1,000 per day of default. Minimum penalty: Rs. 10,000 in case of an individual and Rs. 50,000 in all other cases.

Any person who fails to issue cash memo, invoice, or receipt when required under this Ordinance or the rules made thereunder.

Such person shall pay a penalty of Rs. 5,000 or 3% of the amount of the tax involved, whichever is higher.

Any person who is required to apply for registration under this Ordinance but fails to make an application for registration.

Where any person, being a trader or shopkeeper, is required to apply for registration under this Ordinance but fails to register or fails to pay advance tax as specified in a scheme of special procedure prescribed under section 99B.

Any person who fails to notify changes of material nature in the particulars of registration.

Any person who contravenes the provisions of section 181AA.

Such person shall pay a penalty of Rs. 100,000 for each connection provided to an unregistered person.

Any person who fails to deposit the amount of tax due or any part thereof in the time or manner laid down under this Ordinance or rules made thereunder.

Such person shall pay a penalty of: - 5% of the amount of the tax in default. For the second default: Additional 25% penalty of the amount in default. For the third and subsequent defaults: Additional 50% penalty of the amount in default. Note: If the person opts to pay the tax based on an order under section 129, the penalty will be reduced by 50%.

Any person who repeats erroneous calculation in the return for more than one year whereby the amount of tax paid is less than the actual tax payable under this Ordinance.

Any person who fails to maintain records required under this Ordinance or the rules made thereunder.

Where a taxpayer fails to produce the record or documents in non-compliance with the provisions of section 177, without any reasonable cause:

(a) If fails to produce the record or documents on receipt of the first notice, penalty of Rs. 25,000.

(b) If fails to produce the record or documents on receipt of the second notice, penalty of Rs. 50,000.

(c) If Fails to produce the record or documents on receipt of third notice. penalty of Rs. 100,000-

Any person who fails to furnish the information required or to comply with any other term of the notice served under section 176 or 108.

Any person who: (a) Makes a false or misleading statement to an Inland Revenue Authority either in writing, orally, or electronically, including a statement in an application, certificate, declaration, notification, return, objection, or other documents, including books of accounts made, prepared, given, filed, or furnished under this Ordinance.

Such person shall pay a penalty of: - Rs. 25,000 or 50% of the amount of tax shortfall, whichever is higher. Note: In case of an assessment order deemed under section 120, no penalty shall be imposed to the extent of the tax shortfall occurring as a result of the taxpayer taking a reasonably arguable position on the application of this Ordinance to the taxpayer's position.

(b) Furnishes or files a false or misleading information or document or statement to an Income Tax Authority either in writing, orally, or electronically;

(c) Omits from a statement made or information furnished to an Income Tax Authority any matter or thing without which the statement or the information is false or misleading in a material particular.

Any person who fails to comply with an income tax general order issued by the Board within fifteen days of issue of such order.

Such person shall pay a penalty of: - Rs. 50 million for the first default and - Rs. 100 million for each subsequent default. Note: The penalty shall be imposed effective from such date as the Board may notify.

Any person who denies or obstructs the access of the Commissioner or any officer authorized by the Commissioner to the premises, place, accounts, documents, computers, or stocks.

Where a person has concealed income or furnished inaccurate particulars of such income, including but not limited to the suppression of any income or amount chargeable to tax, the claiming of any deduction for any expenditure not actually incurred, or any act referred to in sub-section (1) of section 111, in the course of any proceeding under this Ordinance before any Income Tax authority or the appellate tribunal.

Such person shall pay a penalty of: - Rs. 100,000 or - an amount equal to the tax which the person sought to evade, whichever is higher. Note: No penalty shall be payable on mere disallowance of a claim of exemption from tax of any income or amount declared by a person or mere disallowance of any expenditure declared by a person to be deductible, unless it is proved that the person made the claim knowing it to be wrong.

Where any person fails to pay tax at the time of making payment as consideration for shares or at the time of registration of shares by the Securities and Exchange Commission of Pakistan or the State Bank of Pakistan, whichever is earlier.

Any person who obstructs any Income Tax Authority in the performance of his official duties.

Any person who contravenes any of the provisions of this Ordinance for which no penalty has, specifically, been provided in this section.

Any person who fails to collect or deduct tax as required under any provision of this Ordinance or fails to pay the tax collected or deducted as required under section 160.

Such person shall pay a penalty of: - Rs. 40,000 or - 10% of the amount of tax, whichever is higher.

Any person who fails to display his NTN or business license at the place of business as required under this Ordinance or the rules made thereunder.

Any reporting financial institution or reporting entity who fails to furnish information or country-by-country report to the Board as required under section 107, 108, or 165B within the due date.

Such reporting financial institution or reporting entity shall pay a penalty of: - Rs. 2,000 for each day of default, subject to a minimum penalty of Rs. 25,000.

Any person who fails to keep and maintain documents and information required under section 108 or Income Tax Rules, 2002.

A penalty of: - 1% of the value of transactions, the record of which is required to be maintained under section 108 and Income Tax Rules, 2002.

Any person who purchases immovable property having fair market value greater than rupees five million through cash or bearer cheque.

Such person shall pay a penalty of: - 5% of the value of the property determined by the Board under sub-section (4) of section 68 or by the provincial authority for the purpose of stamp duty, whichever is higher.

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Where an offshore tax evader is involved in offshore tax evasion in the course of any proceedings under this Ordinance before any Income Tax authority or the appellate tribunal.

Such person shall pay a penalty of: - Rs. 100,000 or - an amount equal to 200% of the tax which the person sought to evade, whichever is higher.

Where in the course of any transaction or declaration made by a person, an enabler has enabled, guided, advised, or managed any person to design, arrange or manage

that transaction or declaration in such a manner which has resulted or may result in offshore tax evasion in the course of any proceedings under this Ordinance.

Such person shall pay a penalty of: - Rs. 300,000 or - an amount equal to 200% of the tax which was sought to be evaded, whichever is higher.

Any person who is involved in asset move, as defined in clause (5C) of section 2 of the Ordinance, from a specified territory to an unspecified territory.

Where a Reporting Financial Institution fails to comply with any provisions of section 165B of the Ordinance or Common Reporting Standard Rules in Chapter XIIA of Income Tax Rules, 2002.

Such Reporting Financial Institution shall pay a penalty of: - Rs. 10,000 for each default and an additional Rs. 10,000 each month until the default is redressed.

Where a Reporting Financial Institution files an incomplete or inaccurate report under provisions of section 165B of the Ordinance and Common Reporting Standard Rules in Chapter XIIA of Income Tax Rules, 2002.

Where a Reportable Jurisdiction Person fails to furnish valid self-certification or furnishes false self-certification under Common Reporting Standard Rules in Chapter XIIA of Income Tax Rules, 2002.

Such person shall pay a penalty of Rs. 10,000 for each day of default since the date of submission of the application for registration or the date of opening of undeclared business bank account, whichever is later:

Provided that if the penalty worked out is less than Rs. 100,000 for each undeclared bank account, such person shall pay a penalty of Rs. 100,000 for each undeclared business bank account.

Provided further that this provision shall be applicable from the first day of October, 2021 during which period the taxpayer may update their registration forms.

Any company or Association of Persons who contravenes the provisions of Section 181E

Such company or Association of Persons shall pay a penalty of Rs. 1,000,000 for each default.

Such person shall pay a penalty of:

(i) Rs. 50,000 for first default of 7 days

(ii) Rs. 100,000 for second default of next 7 days

(iii) Rs. 50,000 for each week after the second consecutive week of default:

Provided that no penalty shall be imposed for the period for which an extension from integration is granted by the Commissioner subject to the condition that, if the SWAPS Agent fails to integrate within such extended time, penalties shall be imposed as if no extension was granted.

Any person, who is integrated for monitoring, tracking, reporting, or recording of sales, services, and similar business transactions with the Board or its computerized system, conducts such transactions in a manner so as to avoid monitoring, tracking, reporting, or recording of such transactions, or issues an invoice which does not carry the prescribed invoice number or QR code or bears a duplicate invoice number or counterfeit QR code, or defaces the prescribed invoice number or QR code, or any person who abets commissioning of such offence.

Any person, who is required to integrate his business for monitoring, tracking, reporting, or recording of sales, services, and similar business transactions with the Board or its computerized system, fails to get himself registered under the Ordinance, and if registered, fails to integrate in the manner as required under law.

Such person shall be liable to pay a penalty up to Rs. 1,000,000, and if continues to commit the same offence after a period of two months after imposition of penalty, his business premises shall be sealed until such time he integrates his business in the manner as stipulated under sub-section (3) of section 237A, as the case may be.

Such person shall be liable to pay:

i) Penalty of Rs. 500,000 for first default;

ii) Penalty of Rs. 1,000,000 for second default after fifteen days of order for first default;

iii) Penalty of Rs. 2,000,000 for third default after fifteen days of order for second default;

iv) Penalty of Rs. 3,000,000 for fourth default after fifteen days of order for third default;

Provided that if such person fails to integrate his business within fifteen days of imposition of penalty for fourth default, his business premises shall be sealed until such time he integrates his business in the manner as stipulated under sub-section (3) of section 237A.

Provided further that if the person integrates his business with the Board's computerized system before imposition of penalty for second default, penalty for the first default shall be waived by the Commissioner.

Any company and an association of persons who:

(a) Fails to fully state all the relevant particulars or information as specified in the form of return, including a declaration of the records kept by the taxpayer;

(b) Furnishes any annexure, statement, or document specified in the return of income as blank or with incomplete or irrelevant particulars; or

(c) Attaches blank or incomplete annexures, statements, or documents where such annexures, statements, or records were required to be filed.