Section 20
Power To Make Reassessment Or Supplementary Assessment:
20. Power to make Reassessment or Supplementary Assessment:
(1) If Government of Nepal is satisfied that any tax-payer has submitted the statement of wealth pursuant to this Act or the existing Nepal law, with an objective of reducing tax liability in the following manner, it may order for reassessment or additional assessment of his/her tax within five years from the date of the said assessment.
(a) Concealment of any wealth in whole or in part;
(b) Production of forged documents to support his/her statement of wealth;
(c) Submission of statement on the basis of false books of account;
(d) Avoidance of tax or reduction of tax liability in the manner mentioned in Sub-sections (1) or (2) of Section 24.
(2) If Government of Nepal is satisfied that the tax liability has been reduced in the case of a taxpayer due to dishonesty, negligence or irregularity, it may order reassessment or supplementary assessment of his/her tax within five years from the date of the said assessment
(1) If Government of Nepal is satisfied that any tax-payer has submitted the statement of wealth pursuant to this Act or the existing Nepal law, with an objective of reducing tax liability in the following manner, it may order for reassessment or additional assessment of his/her tax within five years from the date of the said assessment.
(a) Concealment of any wealth in whole or in part;
(b) Production of forged documents to support his/her statement of wealth;
(c) Submission of statement on the basis of false books of account;
(d) Avoidance of tax or reduction of tax liability in the manner mentioned in Sub-sections (1) or (2) of Section 24.
(2) If Government of Nepal is satisfied that the tax liability has been reduced in the case of a taxpayer due to dishonesty, negligence or irregularity, it may order reassessment or supplementary assessment of his/her tax within five years from the date of the said assessment