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16.08.2022Learned counsel for the appellant present. Mr. Kabirullah Khattak, Additional Advocate General for the respondents present., . Reply/comments on behalf of respondents not submitted. Learned
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What is iorm-a?
iorm-a stands for Information Return for Overseas Assets of a Resident Individual.
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Any resident individual who holds overseas assets worth over a certain threshold is required to file iorm-a.
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The purpose of iorm-a is to track and monitor the overseas assets of resident individuals for tax compliance and reporting purposes.
What information must be reported on iorm-a?
Information such as the type of overseas assets, location, value, and any income generated from these assets must be reported on iorm-a.
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