Records

(1) Unless otherwise authorised by the Commissioner, every taxpayer shall maintain in Pakistan such accounts, documents and records as may be prescribed.
(2) The Commissioner may disallow or reduce a taxpayer’s claim for a deduction if the taxpayer is unable, without reasonable cause , to provide a receipt, or other record or evidence of the transaction or circumstances giving rise to the claim for the deduction.
(3) The accounts and documents required to be maintained under this section shall be maintained for six years after the end of the tax year to which they relate :
Provided that where any proceeding is pending before any authority or court the taxpayer shall maintain the record till final decision of the proceedings. Explanation.— Pending proceedings include proceedings for assessment or amendment of assessment, appeal, revision, reference, petition or prosecution and any proceedings before an Alternative Dispute Resolution Committee :
Provided that limitation prescribed under this sub-section shall not apply to the records pertaining to income, assets, expenses or transactions to which clause (ii) of sub-section (2) of section 111 applies.
(4) For the purpose of this section, the expression deduction means any amount debited to trading account, manufacturing account, receipts and expenses account or profit and loss account.
(5) The Board may require any person or class of persons to install and use an electronic resource of such type and description as may be prescribed, or to act as an integrated enterprise through a notification in the official Gazette for the purpose of receiving, storing, matching and accessing information regarding any transaction that has a bearing on the tax liability of such person.