55.  Return of total income:-

(1)   Every person:-

(a)    whose total income or the total income of any other person, in respect of which he is assessable under this Ordinance, for any income year (hereinafter referred to as the 'said income year') exceeds the maximum amount which is not chargeable to tax under this Ordinance; or

(b)    who has been charged to tax for any of the four income years immediately preceding the said income year, or

(c)   who fulfils any of the following conditions, namely:-

(i)     owns immovable property, with land area of 250 sq yards or more, located in areas falling in the limits of a Metropolitan/ Municipal Corporation, a Cantonment Board or the Islamabad Capital Territory;

(ii)    owns a motor vehicle;

(iii)   subscribes a telephone; or

(iv)   has undertaken foreign travel (except for the purposes of Haj, Umrah or Ziarat) during the income year,

shall furnish a return of his total income or the total income of such other person, as the case may be, for the said income year, alongwith the return of wealth-tax in accordance with the Wealth-tax Act, 1963 (XV of 1963):

Provided that, where the entire total income of an assessee during the income year consists of income chargeable under the head "Salary", he may, instead of furnishing a return as aforesaid, file a certificate from his employer in the prescribed form setting forth such particulars, and accompanied by such statements, and verified in such manner, as may be prescribed, and the said certificate shall be deemed to be a return under this sub-section:

Provided further that the persons otherwise not required to file return of total income under the first proviso, or section 80C or section 80CC shall, except in the case of firms, associations of persons, or bodies of individuals, whether incorporated or not, and companies who are otherwise not chargeable to wealth-tax under the Wealth-tax Act, 1963 (XV of 1963), and persons whose declared income for the relevant year or the last declared or assessed income is less than two hundred thousand rupees, file return of wealth alongwith the certificate of statement of their income in lieu of such return of total income.

Provided also that clause (c) of this section shall not apply to a person, who is:

(a)    widow;

(b)    orphan below the age of 25 years;

(c)    pensioner;

(d)    disabled; or

(e)    non-resident Pakistani in the case of foreign travel and ownership of immovable property.

(2)  The return of total income under sub-section (1) shall be furnished-

(a)    in the case of a company, in respect of the income year ending at any time between the first day of January and the thirtieth day of June, both days inclusive, on or before the thirty-first day of December next following the income year; and.

(b)    in the case of an assessee other than referred to in clause (a), on or before the thirtieth day of September next following the income year.

(3)   The Deputy Commissioner may, on sufficient cause being shown, extend the date for the delivery of the return so, however, that no extension of time for a period or periods amounting in all to more than fifteen days from the dates specified in sub-section (2) shall be allowed except with the approval of the Inspecting Additional Commissioner.

Explanation:- Non-furnishing of wealth tax return alongwith the return of total income, certificate or statement of income shall render such return, certificate or statement as invalid.