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MR.

ISHAQ DAR
Return of Wealth Tax Income Tax Return Wealth Statement
Tax year Total assets Liabilities Net Wealth Tax Paid Tax year Income Tax Expenditure Tax year Total assets Net Wealth Inflow s Liabilities Expenditure Reconciliation Obsvn
12,000,000 Return of Wealth Tax
Properties owned by I.D:78-A officers colony cavalary ground lhr worth Rs. 470,000/-, 1 kanal plot Allama iqbal

9,825,930

9,825,930

9,773,591

9,668,245
831,962 831,962 0 0 0 0

9,455,660

9,455,660
1981-82 826,771 24,298 802,473 350 1981-82 1981-82 town lhr worth Rs. 20,000/-. Sources for purchases of these properties are unknown. More so 1/3rd share of F-2123-4 10,000,000

8,702,453

8,725,668

8,725,668
/ 2644 worth Rs. 24,000/- was also declared as inherited.

8,425,985
1982-83 866,065 0 866,065 335 1982-83 1982-83 939,723 939,714 157,961 0 50,209 831,962 Plot at Allama iqbal town deleted / sold. Wife's wealth declared @ Rs. 180,649/-

7,683,719

7,683,719
1983-84 917,273 0 917,273 591 1983-84 1983-84 0 0 0 0 0 0 Addn in total assets to the tune Rs. 0.1 Mn source is unknown. Wealth statement was not provided by FBR 8,00 0,000
1984-85 973,208 1,010 972,198 1,400 1984-85 1984-85 1,358,993 1,282,413 310,644 1,010 76,580 1,048,349 In wealth statement Inflows include gift received by wife from her father @ Rs. 50,000/-, sale proceeds of wife's

6,025,401

6,025,401
jewellery @ Rs. 134,046/- & Salary Rs. 126,300/-
In wealth statement Total assets include self assets worth Rs. 1.23 Mn, son's assets worth Rs. 0.1 Mn & wife's assets 6,00 0,000
1985-86 885,305 0 885,305 0 1985-86 1985-86 2,069,830 2,069,830 880,589 0 93,172 1,282,413
Rs. 838,645/-. Received remmitance from Mr. M. Saeed (Bahrain) amounting to Rs. 150,000/-
Sudden increase in assets to the tune of Rs. 0.8 Mn. Sources remain unknown . In wealth statement Total assets

3,098,755
1986-87 1,409,089 250,000 1,159,089 795 1986-87 1986-87 3,012,842 2,762,842 773,463 250,000 80,451 2,069,830 include self assets worth Rs. 1.94 Mn & wife's assets Rs. 838,645/-.Detail of inflow is not available therefore sources 4,00 0,000

2,365,988

2,225,401
149,391 7,431 for addition of wealth remain unknown.

1,836,700

1,816,556
1,795,486

1,594,725

1,465,918

1,465,918
1,409,089

1,452,855
4,002,778 2,812,861 180,382 1,189,917 130,363 2,762,842 Sudden increase in assets to the tune of Rs. 0.8 Mn. Sources remain u nknown . As per wealth statement Total

1,353,212

1,282,199
1,189,917
1987-88 2,365,988 1,189,917 1,176,071 880 1987-88 1987-88

1,159,089

1,176,071
2,00 0,000
180,382 10,619 assets include self assets worth Rs. 1.97 Mn & wife's assets Rs. 838,645/-.

973,208

972,198

924,054
866,065

866,065

917,273

917,273

885,305

885,305
826,771

802,473

749,902
603,310
528,801

388,701

276,468
Assets reduced by Rs. 0.9 Mn. Liabilities reduced by 0.65 mn. Sources for purchase of house at gulberg Lhr worth

250,000

200,761

105,346

139,621
5,578,944 4,050,143 0 1,528,801 0 2,812,861

99,177
24,298

11,733

17,318

14,687

61,974
1988-89 1,452,855 528,801 924,054 6,741 1988-89 1988-89 Rs. 2,475,800. & disposal of loan from Amx & NCL @ Rs. 437,801 /- remain unknown Total assets include self

1,010

1,400

6,741

4,999

1,004

1,944
350

335

591

795

880
0

0

0

0

0

0

0

0

0

0

0

0

0

0
175,683 18,921 assets worth Rs. 4.97 Mn & wife's assets Rs. 608,711/- (as per wealth statment)
1981-82 1982-83 1983-84 1984-85 1985-86 1986- 87 1987-88 1988-89 1 989-90 1990-91 1991-92 1992-93 1993-94 1994-95 1995-96 1996-97 1997-98 1998-99 199 9-00 2000-01
1989-90 1,353,212 603,310 749,902 4,999 1989-90 1989-90 0 0 0 0 0 0 As per wealth statement total assets include self assets worth Rs. 1.97 Mn & wife's assets Rs. 838,645/-. Wealth
349,215 16,800 statement was not available with FBR. Capital Gain worth Rs 146,000/- also reported.
Loan of Amex increased to Rs. 1.49 Mn. Assets increased by 0.4 Mn & Liabilities in reased by approx 0.9 Mn. In Total assets Liabilities Net Wealth Tax Paid
1990-91 1,795,486 1,594,725 200,761 1,004 1990-91 1990-91 5,907,498 4,312,773 433,413 1,594,725 383,737 4,263,097 wealth statement Total assets include self assets worth Rs. 5.42 Mn & wife's assets Rs. 482,711/-including dividend
210,489 17,072 income and prize bond draw of Rs 10,700/-
1991-92 2,225,401 1,836,700 388,701 1,944 1991-92 1991-92 6,000,418 4,163,718 212,998 1,836,700 362,053 4,312,773 Rs. 1,836,700/- is the loan of Amex. Total assets include self assets worth Rs. 5.47 Mn & wife's assets Rs. 532,061/- 50,000,000
183,600 12,058

46,462,272
1992-93 3,098,755 1,816,556 1,282,199 11,733 1992-93 1992-93 11,256,223 9,439,667 5,739,206 1,816,556 463,297 4,163,718 Total assets include self assets worth Rs. 10.72 Mn & wife's assets Rs. 532,961/- (as per wealth statement). Income Income Tax Return

41,693,747
707,202 75,892 included capital gain worth Rs 176,819/-on shares. 45,000,000

1993-94 1,465,918 0 1,465,918 17,318 1993-94 1993-94 9,112,718 9,112,718 693,499 0 487,487 8,906,706 Assets of wife deleted that's why the reconciliation doesn't match with net wealth for previous year (as per wealth
697,099 21,438 statement). Income included capital gain worth Rs 395,000/- on the Sale of shares of BOP 40,000,000
1994-95 8,702,453 276,468 8,425,985 0 1994-95 1994-95 Remittance amounting to Rs. 5,020,,000/- Mn was received by Ishaq Dar. The source of remit remains unknown
1,595,361 81,777 Wealth statement not provided by FBR. Income included dividend of Rs 781,875/- Revision was filed as well 35,000,000
1995-96 8,725,668 0 8,725,668 0 1995-96 495,487 40,748 1995-96 No details of tax dedcution / liabilities is available Wealth statement not provided by FBR.
Addition in total assets amounting to Rs. 1.1 Mn. Sources remain unknown. Wealth statement not provided by FBR. 30,000,000

25,669,397
1996-97 9,825,930 0 9,825,930 14,687 1996-97 1996-97
45,500 4,550 No source of income except dividend income.
1997-98 7,683,719 0 7,683,719 0 1997-98 1997-98 Decline in assets worth Rs. 2.2 Mn whereas disposal of funds remain unknown. Wealth statement not provided by 25,000,000
590,125 20,334 FBR. Drastic increase in income.
1998-99 6,025,401 0 6,025,401 61,974 1998-99 356,316 26,897 1998-99 Decline in assets whereas disposal of funds remain unknown. Wealth statement not provided by FBR. 20,000,000

14,908,187
14,264,539
Addition in total assets amounting to Rs. 3.7 Mn. Sources remain unknown. Wealth statement not provided by
1999-00 9,773,591 105,346 9,668,245 99,177 1999-00 1999-00 FBR. No salary income just the dividend income of Rs 620,500/- . Incomplete data as Salary income was not
15,000,000
620,500 62,050 reported
Only dividend income worth Rs 422,509/- was reported. Incomplete data as income from Salary details not

7,831,665
2000-01 9,455,660 0 9,455,660 139,621 2000-01 2000-01

6,922,500
422,509 42,251 reported. 10,000,000

4,827,804

4,617,328
3,913,778
2001-02 6,922,500 692,250 2001-02 17,091,,410 7,642,500 892,580 No source of income except dividend which rose by 16.40 times

2,189,051

2,286,702
2002-03 123,416 50 0 2002-03 5,000,000

1,007,895
16,529,309 894,504 2,353,568 Wealth statement not provided by FBR.

894,504

814,921

804,328

824,891
692,250

583,675

729,347
435,943

480,750

507,750

526,650
123,416

119,102

202,073
89,451

12,034

20,135

33,490

44,669

30,932

62,814

62,814

89,411
2002-03* 894,504 89,451 2002-03* Dividend Income reported for the year. Salary Income not reported.
0

50
2003-04 435,943 12,034 0 2003-04

0

0

0

0

0

0

0

0

0

0

0

0
Wealth statement not provided by FBR. 2001-02 2002- 03 2002-03* 2003-04 2004-05 2005-06 2006-07 2007-08 2008-09 2008-09* 2009-10 2010-11 2011-12 2012-13 2013-14 2 014-15 2015-16
2004-05 480,750 20,135 0 2004-05 Wealth statement not provided by FBR.
2005-06 507,750 33,490 0 2005-06 Wealth statement not provided by FBR.
2006-07 583,675 44,669 0 2006-07 Wealth statement not provided by FBR.
Income Tax Expenditure
2007-08 526,650 30,932 0 2007-08 Wealth statement not provided by FBR.
2008-09 729,347 62,814 0 2008-09 831,678,875 831,678,876 839,048,835 0 52,197,520 44,827,561 Overseas assets declared @ Rs. 784.72 Mn and assets transferred from abroad worth Rs. 52.43 Mn. Increase of Rs.
822.5 Mn needs to be clarified. Loan to Son amounting to Rs. 586.92 Mn.
2008-09* 814,921 62,814 0

854,313,616
839,048,835

833,920,543

831,678,876
2009-10 804,328 89,411 0 2009-10 833,920,543 808,691,174 2,241,667 0 25,229,369 831,678,876

831,678,875

831,678,876

808,691,174
808,691,174
900,000,000
2010-11 1,007,895 119,102 4,827,804 2010-11 854,313,616 568,930,852 45,622,442 0 285,382,764 808,691,174 Hajveri Villa in UAE gifted to son worth Rs. 261.09 Mn, Plot measuring 16 K - 10 M worth Rs. 5.8 Mn & Jewellery
worth Rs. 0.69 Mn gifted to wife. Wealth Statement
800,000,000
2011-12 2,189,051 202,073 14,264,539 2011-12 558,004,029 557,967,441 3,301,128 36,590 14,264,539 568,930,852 Sources for expenditure remain unknown as per IT Return
2012-13 7,831,665 824,891 14,908,187 2012-13 550,890,919 550,890,919 7,831,665 0 14,908,187 557,967,441 Sources for expenditure remain unknown as per IT Return 700,000,000

575,374,376
568,930,852

568,930,852
558,004,029
557,967,441

557,967,441

554,407,042

554,406,341
550,890,919
550,890,919

550,890,919

544,268,141
544,268,141
2013-14 25,669,397 2,286,702 0 2013-14 575,374,376 554,407,042 24,483,457 0 20,967,334 550,890,919 Extra ordinary rise in income, needs justification.Sources of exobrant expenditure remain unknown .

525,752,834
525,752,834

525,752,834
2014-15 41,693,747 3,913,778 0 2014-15 525,752,834 525,752,834 40,456,247 0 69,109,754 554,406,341 600,000,000
2015-16 46,462,272 4,617,328 0 2015-16 544,268,141 544,268,141 46,462,272 0 27,946,965 525,752,834
500,000,000

Misdeclarations Concealment of Sources Way Forward 400,000,000

285,382,764
Massive addition in net wealth during yr 2008-09 in Wealth Statement. with comparison to that of 1993-94 Net wealth welled by 822.5 Mn with addition of overseas assets worth Rs. 784.72 Mn Documents / details assets abroad & the sources for their purchase be asked from ID 300,000,000
ANALYSIS

Extraordianry & continuous Increase in income from yr 2012-13 till 2015-16 Increase in income amounting to Rs. 39 Mn in 4 yrs. Proof of income for the said yrs to be asked from ID 200,000,000

69,109,754
52,197,520
44,827,561

45,622,442

46,462,272
40,456,247

27,946,965
25,229,369

24,483,457

20,967,334
16,529,309

14,908,187
11,256,223

14,264,539
100,000,000

9,439,667

9,112,718
9,112,718

8,906,706
Loan to Son worth Rs. 586.93 Mn during the tax year2008-09 (as declared in wealth statement for the same year) Sources for this amount are unknown ID may be asked to provide evidence of sources as well as loan extended

5,578,944

5,907,498
4,312,773

4,263,097

6,000,418

4,312,773

5,739,206

7,642,500

7,831,665
1,358,993
1,282,413

1,048,349

2,069,830
2,069,830

1,282,413

3,012,842
2,762,842

2,069,830

4,002,778
2,812,861

2,762,842

4,050,143

2,812,861

4,163,718

4,163,718

2,353,568

2,241,667

3,301,128
831,962
831,962

939,723
939,714
157,961

831,962

310,644

880,589

773,463

180,382

130,363

433,413

383,737

212,998

362,053

463,297

693,499

487,487

892,580

894,504
50,209

76,580

93,172

80,451
0

0

0
0

0
0
0

0
0

0

0

0
0
0

0
0

0
As per wealth statement loan extended to son was in the amount GBP 4.37 Mn whereas same was declared at GBP Misdeclaration on part of Ishaq Dar FBR and ECP be asked to inquire about this loan. 198 1-82 1982-83 1983-84 1984-85 1985-86 1986-87 1987-88 1988-89 1989-90 1990-91 1991-92 1992-93 1993-94 1994-95 1995-96 1996-97 1997-98 1998-99 1999-00 2000-01 2001-02 20 02-03 2002-03* 2003-0 4 2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13 2013-14 2014-15 2015-16

4.9 Mn in ROPA submitted in ECP
Total assets Net Wealth Inflows Liabilities Expenditure Reconciliation