Gul Ahmed & Co.

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Archive for: March 2014

Direct Taxes Income Taxes March 29, 2014

Amendment in second schedule of Income Tax Ordinance, 2001

SRO Number:           17(I)/2014
SRO Date:                January 13,2014
SRO Relates to:       Income tax
SRO Title:                Amendment in second schedule of Income Tax Ordinance, 2001
Brief Description:     New clauses were added as per sub section (2) of section (53) after clause (88), namely (89) and (90)

 

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News Others March 29, 2014

FBR Verifying Exemption Certificates

Date: March 29, 2014

The Federal Board of Revenue is verifying authenticity of thousands of exemption certificates
used for clearance of imported consignments without payment of withholding tax during July 1,
2013 – January 2014. The FBR issued instructions to field formations here on Friday. The FBR
has launched verification of exemption certificates on national level based on discrepancies
detected in the certificates issued by RTO Faisalabad.

Indirect Taxes Sales Tax March 28, 2014

Input tax allowed against provincial laws

SRO Number:       212(I)/2014
SRO Date:            March 26, 2014
SRO Relates to:   Sales Tax
SRO Title:             Input tax adjustment allowed against provincial laws
Brief Description:  The claim of input related to Provincial Sales Tax on Services is allowed from July 01, 2013

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