File photo of caretaker CM Punjab Najam Sethi. PHOTO: EXPRESS/FILE
According to tax laws, it is mandatory for every citizen having an annual income of more than Rs0.5 million to submit wealth tax statement but Sethi did not submit the statement in 2012. The tax returns that Sethi submitted for 2011 state that his total annual income is Rs33 million against his personal expenses of Rs29.5 million or Rs2.6 million per month.
But the next year which is 2012 his total income is stated as Rs32.7 million while his expenses soared to Rs115.1 million which is Rs9.5 million per month. Thus his annual income reduced by Rs0.3 million but his expenses showed an unusual increase of Rs85.6 million.
Published in The Express Tribune, April 16th, 2013.
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@Xain Gardezi: "Expense is 82 million more than income? Mr Sethi is indeed defying all laws of mathematics"
HEard the concept of savings and investments?
@antanu: "and he is do called champion of anti corruption movement I Pakistan…"
Sorry how did you determine that he is corrupt on the basis of his tax statement?
@John the Baptist: "Another tax cheating patriot!"
Please read and read again. The information in this article came from his tax returns. How did you determine that he cheated on taxes?
I feel bad for his sidekick, mini me muneeb! Having been ditched by his benefactor, I saw the poor chap selling gundarian at Empress Road to feed his habit for buying bad ties. But, this is just Aaapas ki Baat between the Sethi and Farooqi
As long as he is categorizing his expenses its legal. He can always be audited. If there is some shady stuff going on. @ Gardezi, your understanding of income and expenses need some tutoring. Where does it say that you cant use your savings to pay for your current year expenses?
liberaloons and secularoons ARE the most corrupt in Pakistan...Their lifestyle and expenses prove it.
Has he included in his returns monies paid into his bank, all with details of account number etc, from Malik Riaz? Was this an 'income'! for what purpose?
and he is do called champion of anti corruption movement I Pakistan...
Sethi knows that as someone who has been calling for a fairer tax burden for Pakistan, the easiest way for his opponents to get the opportunity silence him is for Sethi himself to fudge his taxes. This is his public tax return and all that has happened is that his expenses have increased. Is that a crime? So what if his expenses have increased? Suppose he took on loans?
haha this is extremely interesting. Now will he do a special aapis ki baat session to explain himself?
Another tax cheating patriot!
Tax Bachao Scheme, and not an increase in expenses itself.
Expense is 82 million more than income? Mr Sethi is indeed defying all laws of mathematics
So? You know this because he filed his taxes right? What exactly is the problem then?