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 Income
Tax Ordinance, 2001 |
| Tax On Income Of Certain Persons |
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| A retailer, being an individual or an AOP, with annual turnover up to Rs. 5 million may opt for payment of tax as final tax under this section. Until now the Retailers were allowed adjustment of withholding tax from their final tax liability. The bill seeks to disallow any claim for adjustment of withholding tax collected or deducted under any head during the year while computing his final tax liability under the Section. The bill also seeks to reduce tax rate from 0.75% of the turnover to 0.50% of the turnover. |
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© 2007, All Rights Reserved, RASG |
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Mr. Gohar Manzoor
