Section 96 : Income return

1) Each person shall, within three months of the expiration of an income year, and subject to Sections 97, 98 and 100, submit an income return of that year in the place as specified by the Department.

2) The income return referred to in sub-section (1) shall be as follows:

a) It has to be prepared in the manner and format specified by the Department, setting out the following matters:

 (1) Assessable income earned by that person from each employment, business or investment in that year and source of such income,

(2) Taxable income of that person in that year and the tax to be imposed on the person referred to in clause (a) of Section 3 in respect of that income,

(3) Income sent abroad in that income year by a non-resident person’s foreign permanent establishment situated in Nepal, and the tax imposable in that income,

¹(4) ……………………………….

¹(5) …………………………………

(6) Such other information and details as specified by the Department.

b) The income return has to be signed by that person or manager, covenanting that it is true and complete and

c) The income return has to be accompanied by the following matters:

¹(1) ………………………….

(2) Any details made available to that person pursuant to sub-section (4),

¹(3) …………………………

(4) Such other information and details as specified by the Department.

3) If any person, except in the capacity of an employee, prepares or assists in preparing the income return of any other person or the documents or details to be accompanied with the income return in lieu of any payment, such a person has to certify the following matters:-

a) Having examined the documents maintained by other people pursuant to Section 81 and

b) Having the circumstances in question been actually reflected in the details or information.

4) If the person required to certify the return pursuant to Subsection (3) refuses to certify, information setting out the reasons for such refusal has to be given to the person whose income return is to be certified.

5) The Department may, in the following circumstances, require any person to submit the income return of an income year or any part of the income year within the time limit mentioned in the written notice given by it to such person subject to Section 100 prior to the due time limit for submission of the income return of the income year pursuant to sub-section (1):-

a) If that person becomes bankrupt, insolvent or is dissolved,

b) If that person is to leave Nepal for an uncertain period of time,

c) If  that person is leaving the act being carried out by him/her in Nepal or

d) If the Department otherwise thinks it proper.

6) If any person wishes to amend his or her income return submitted to the Department within the time limit for its being otherwise, that person may amend the income return within thirty days of the date of its submission in accordance with the process specified by the Department.

^{1 Removed by the Financial Act, 2075.}