CAF-2 · Chapter 1 · Question 6 of 13
Under the Income Tax Ordinance, 2001, any amount transferred otherwise than through banking channels is deemed as income. What is the primary objective of this specific tax law?
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: C) C) Documentation of the economy
Explanation
Deeming amounts transferred outside of banking channels as income aims to achieve the objective of 'Documentation of economy'.
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