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Furnishing of estimate of chargeable income if no return is made under section 62

Income Tax Act 1947

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—(1) Unless exempted by rules mentioned in subsection (3), every person, not being an individual, who has not made a return under section 62 for any year of assessment must, within 3 months after the end of the accounting period relating to that year of assessment, furnish to the Comptroller an estimate of the person’s chargeable income.(1AA) A person mentioned in subsection (1) must furnish the estimate of the person’s chargeable income for a year of assessment using the electronic service if rules mentioned in subsection (3) require a class of persons to furnish their estimates for that year of assessment using the electronic service, and the person belongs to that class.(1A) Unless exempted by rules mentioned in subsection (3), every individual carrying on or exercising any trade, business, profession or vocation who has not made a return under section 62 for any year of assessment must, within 3 months after the end of the accounting period relating to that year of assessment, furnish to the Comptroller an estimate of the individual’s chargeable income.(2) Any person who fails or neglects without reasonable excuse to furnish the estimate of the person’s chargeable income as required under subsection (1), (1AA) or (1A) shall be guilty of an offence.(3) The Minister may, by rules made under section 7, do any of the following:(a)require a specified class of persons subject to subsection (1) to furnish the estimate of their chargeable income for any year of assessment under that subsection using the electronic service;(b)exempt any person or class of persons from subsection (1) or (1A) in respect of one or more years of assessment, subject to such conditions as may be specified in the rules.

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