NBR clarifies SRO on undisclosed income

---

FE Report
The National Board of Revenue (NBR) in a clarification Tuesday said the taxpayers whose self-assessed returns are awaiting clearance would be entitled to avail themselves of SRO 98 and legalise their undisclosed money within November 30 next.
The board has also made it clear that the deadline for legalising undisclosed income would not be extended any further.
The deputy tax commissioner (DTC) will take into consideration both tax assessed through auditing and the undisclosed income declared by the assessees.
The DTC will add the amount of higher income if detected during auditing to the total income and fix taxes accordingly.
The taxpayers availing themselves of SRO 98, will not be entitled to any refund of taxes paid earlier.