Mrs.

Mariam Safdar

Return of Wealth Tax Income Tax Return Wealth Statement

Return of Wealth Tax
Tax yr Total Assets Liabilities Net Wealth Tax Paid Tax yr Income Tax Expenditure Tax yr Total Assets Net Wealth Inflows Liabilities Expenditure Reconciliation Obsns/ Remarks
1991-92 1,474,660 2,737 1,471,923 2,737 1991-92 1991-92 Assets in wealth tax return are taken at declared value.
1992-93 30,527,787 695,800 29,831,987 695,800 1992-93 0 - - 1992-93 Assets in wealth tax return are taken at declared value. 34090248 33983791 34007248
1993-94 30,542,382 1,440,285 29,102,097 1,391,220 1993-94 16,500 275 - 1993-94 Assets in wealth tax return are taken at declared value. 32758152 33090248 33279548 33173091 32802368
32611007 32611007
30928908 31226344
1994-95 32,611,007 3,622,489 28,988,518 21,271 1994-95 0 - - 1994-95 30,141,007 29,009,789 1,131,218 Assets in wealth tax return are taken at declared value. Reconciliation not available Therefore sources for said 30527787 30542382 30141007
29831987 29521082
assets remain unknwon. Reportedly she was a student at that time. 29102097 28988518 28705062

1994-95* 30,141,007 1,435,945 28,705,062 652,627 - - - - - -

1994-95** 6,436,007 3,622,489 2,813,518 347,900 - - - - - -
1995-96 32,611,007 3,089,925 29,521,082 97,831 1995-96 1,661,500 166,155 - 1995-96 - - - - - -
1995-96* 9,003,152 3,089,925 5,913,227 97,831 0 0 0 - - - - - -
1996-97 DETAIL NOT AVAILABLE 157,354 1996-97 864,000 86,400 - 1996-97 34,035,752 32,206,508 1,829,244

Source of payment of liabilities remain unknown esp that of cash gifted to Nawaz & Shahbaz Sharif. Whereas
1997-98 32,758,152 1,829,244 30,928,908 - 1997-98 0 - - 1997-98 32,206,508 30,771,724 0 1,434,784 1,434,784 32,206,508 inflows for the same year is reported as nil. But same cannot be reconciled with W.statement of NS because
same is not available. Property at model town is owned by Maryam Nawaz

1998-99 33,090,248 1,863,904 31,226,344 11,703 1998-99 1,728,000 172,800 - 1998-99 Missing / Not filed?
1998-99* 4,073,168 1,863,904 2,209,264 11,703 0 0 9003152
1999-00 34,090,248 106,457 33,983,791 335,227 1999-00 2,592,000 259,200 1999-00
1999-00* 33,279,548 106,457 33,173,091 6436007
5913227

3622489 3622489 4073168

2813518 3089925 3089925
The amount of unsecured loans to NS in 2000-01 was to the tune of Rs. 1.5 Mn & rose to Rs. 2.2 Mn in 2001-02 1474660 1471923 1440285 1435945 1829244 1863904 1863904 2209264
695800 1204880
2000-01 34,007,248 1,204,880 32,802,368 231,919 2000-01 1,728,000 172,800 - 2000-01 33,196,548 31,991,668 1,204,880 and loan to Shamim Akhter was Rs. 1.0 Mn in 2000-01 but the same cannot be justified through Income 2737 0 106457 106457
Return as income for 2001-02 is filed as nil. Whereas that of 2000-01 is Rs. 1.75 Mn. Hence the outflow of 2.5
Mn cannot be justified. shares in Mehran Ramzan textile mills gifted to Mr. Hussain Nawaz 1991-92 1992-93 1993-94 1994-95 1994-95* 1994-95** 1995-96 1995-96* 1996-97 1997-98 1998-99 1998-99* 1999-00 1999-00* 2000-01

#REF! #REF! #REF!

2001-02 0 0 0 2001-02 28,292,548 26,576,573 0 1,715,975 5,415,095 31,991,668 Assets Reduced by 5.0 Mn. Disposal of assets remain unknown. Income tax return filed as Nil. Declared as
salaried individual & Non Resident
2002-03 0 0 0 2002-03 28,292,548 26,551,573 1,740,975 26,576,573 Income tax return filed as Nil, Wealth statement filed under ITO 1979 Income Tax Return
2003-04 2003-04 Income tax return filed as Nil, Wealth statement filed under ITO 1979 year 2003-04, as per ITO 2001 year 2002-
0 0 0 28,292,548 26,526,740 0 1,765,808 24,833 26,551,573

13689434
03
2004-05 - - - 2004-05 - - - - - -
2005-06 - - - 2005-06 - - - - - -
2006-07 - - - 2006-07 - - - - - -
2007-08 - - - 2007-08 - - - - - -
2008-09 - - - 2008-09 - - - - - -
2009-10 1,184,903 118,490 - 2009-10 73,510,431 73,502,931 7,500 185,003 Purchase of car amounting to Rs. 3.5 Mn

8356580

8367000
Sudden increase in assets amounting to Rs. 29 Mn and received gift from father Nawaz Sharif of Rs. 31.7 Mn.

7613610
2010-11 32,388 9,677 2,295,560 2010-11 102,947,255 102,939,754 31,732,383 7,500 2,295,560 73,502,931 Land amounting to Rs. 32 Mn. Total Expense including personal expenditure is 35.4 Mn whereas total inflow is

7147510
31.7 Mn therefor the additional 4.7 Mn addition can't be justified.

With purchase of additional land the total value of land rose to Rs. 74 Mn value addition to BMW to the tune of
Rs. 27.6 Mn which is not possible. Purchase of shares of Shamim Sugar mills amounting to Rs. 70 Mn.

3580458
2011-12 2,308,917 27,216 3,580,458 2011-12 201,896,968 172,963,168 73,603,872 28,933,800 3,580,458 102,939,754
Personal expenditure is 3.5 Mn therefore total expense is 183.5 Mn whereas total inflow for the year is Rs. 73.0

2592000
Mn. Therefore the additional 110.5Mn assets can't be justified

2308917
2295560
1728000

1728000
1661500
1491434

1184903
2012-13 7,147,510 34,393 8,356,580 2012-13 236,555,892 207,622,092 43,015,504 28,933,800 8,356,580 172,963,168

864000
Received gifts from Nawaz Sharif amounting to Rs. 35.68 Mn

259200

125913
172800
166155

246443
172800

118490
86400

9677

34393
27216
32388
16500

275
With purchase of land the total value of land increased by Rs. 157 Mn. Other expenses including personal

0
2013-14 7,613,610 125,913 - 2013-14 347,629,156 318,695,356 200,930,942 28,933,800 89,857,678 207,622,092 expense are to the tune of Rs. 89.8 Mn and the total inflow is Rs. 200.9 Mn therefore the additional 46 Mn can't
be justified Received gifts amounting to Rs. 192 Mn

2014-15 8,367,000 246,443 - 2014-15 654,325,674 625,391,874 319,875,672 28,933,800 13,179,154 318,695,356 Received gifts amounting to Rs. 310.5Mn #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF!

With purchase of land the total value of land increased by Rs. 264 Mn and other expenses including personal
2015-16 13,689,434 1,491,434 - 2015-16 830,732,895 801,799,095 184,651,094 28,933,800 8,243,873 625,391,874 expenses are to the tune of Rs. 8.2Mn. Total expenses are 272.2 Mn whereas total inflows are 184 Mn. Wealth Statement

830732895
Therefore the additional 88.2 Mn assets cannot be justified. Received gifts amounting to Rs. 172 Mn.

801799095
900000000

Mr. Muhammad Safdar 800000000

654325674
625391874

625391874
Income Tax Wealth Statement 700000000
2013-14 1,665,497 39,900 1,039,000
2014-15 3,110,522 49,902 - 2014-15 13,188,644 13,199,644 3,110,522 2,400,000 12,489,122 600000000

Misdeclarations Concealment of Sources Way Forward 500000000

347629156

318695356

319875672

318695356
Sudden inc in total assets during assesment year 1992-93 without any visible source of income Source of assets amounting Rs 29 mn remains unknown Proof of income to be asked from Maryam Safdar
400000000

236555892
Payment of liabilities & cash gifts to MNS & Shehbaz Sharif assesment year 1997 -98 Source of inflow of funds for payment of liabilities (Rs 1.2 mn) & gifts (Rs 1.2 mn) remains unkno wn Proof of income to be asked from Maryam Safdar

207622092

207622092
201896968

200930942

184651094
300000000

172963168

172963168
Lended unsecured loans to NS and Shamim Akhter in assesment year 2000-01 & 02; cannot be justified through Income Tax Return (filed as Nil in 2002) Source of funds given as unsecured loan (Rs 3.2 mn) remains unknown Source of gifts to be asked from Maryam Safdar
Analysis

102939754
102947255

102939754
200000000

89857678
Declared BMW car worth Rs. 3.5 Mn in tax year 2009 -10 which appreciated to Rs. 28.164 Mn in 2011 -12 Such abrupt value addition is abnormal Proof of addition be asked from Maryam Safdar

73603872
73502931

73502931
73510431
31991668
30771724

26576573

26526740
26551573
32206508

43015504
32206508

31991668
29009789

34035752

31732383
32206508

33196548

28933800

28933800

28933800

28933800

28933800
30141007

28292548

28292548

28292548
26576573

26576573

13179154
2295560

185003
As per wealth statement of tax year 2011 -12 of Maryam Safdar declared profit on BMW at Rs. 19.66 Mn She declared gain on B MW but didn't delete the car from her assets till tax year 2013 -14 Actual sources of funds declared as gain be asked

8356580
5415095

8243873
1131218
100000000

3580458
1829244

1434784

1715975

1740975

1765808
1204880

7500

7500
from Maryam Safdar & FBR conduct probe

0
0

Capt (R) Muhammad Safdar declared cost of BMW at Rs. 6.0 Mn in his Return of Personal assets for year ending 30th June submi tted in ECP Maryam Safdar declared the same car at Rs. 28.164 Mn her wealth statement for year 2012 -13 This misdeclaration / di screpancy may be 1993-94 1994-95 1995-96 1996-97 1997-98 1998-99 1999-00 2000-01 2001-02 2002-03 2003-04 2009-10 2010-11 2011-12 2012-13 2013-14 2014-15 2015-16
Axis Title
investigated by FBR & ECP
#REF! #REF! #REF! #REF! #REF! #REF!