Income Tax Ordinance, 2001 — Section 181C: Displaying of National Tax Number

4[181C. Displaying of National Tax Number.— Every person deriving income from business chargeable to tax, who has been issued a National Tax Number, shall display his National Tax Number at a conspicuous place at every place of his business.] Chapter X – Procedure

(3)The Commissioner may, by an order in writing, cancel a business licence issued under sub-section (1) after providing an opportunity of being heard to the person, if –

(a)such person fails to notify any change in particulars within thirty days of such charge; or

(b)such person is convicted of any offence under any federal tax law.] 1 [181E. Record of beneficial owners.- (1) Every company and association of persons shall electronically furnish particulars of its beneficial owners in such form and manner as may be prescribed.

(2)Every company and association of persons shall update the particulars of its beneficial owners as and when there is a change in the particulars of the beneficial owners.] 1 New Section 181E inserted by the Finance Act, 2022. 377 Chapter X – Procedure PART X PENALTY