Collection & Deductions of Cash flow Ax

 Collection  Deduction of Income Ax Essay

Collection

and

Deductions

of Tax

at Origin

(Withholding Real estate agents

Perspective)

(Taxpayer's Facilitation Guide)

Brochure – IR-IT-04

Come july 1st 2011

Revenue Division

Federal Board of Revenue

Federal government of Pakistan

[email protected] gov. pk

0800-00-227, 051-111-227-227

www.fbr.gov.pk

Our Perspective

To be a modern day, progressive, effective,

autonomous and credible corporation for

customizing revenue by providing quality

service and promoting compliance with tax

and related laws

Our Mission

Improve the capability of the tax program to

collect due income taxes through application of

modern techniques, providing taxpayer

assistance through creating a enthusiastic,

satisfied, dedicated and specialist

workforce

Our Values

Honesty

Professionalism

Team-work

Courtesy

Justness

Transparency

Responsiveness

For assistance and information concerning tax issues

Please get in touch with our support line center through

1800 Telephone 0800-00-227

Telephone 051-111-227-227 or 051-111-227-228

Fax 051- 051-9205593

Email [email protected] gov. pk

or

Visit each of our tax aide center (located in all significant cities) or any tax business office or

Visit our website at www.fbr.gov.pk

Revenue Division

Federal Board of Income

Government of Pakistan

Section

Brochure – IR-IT-04

148

149

a hundred and fifty

151

This summer 2011

INTRO

Income Tax Code, 2001 helps it be obligatory

to get and deduct tax in source on certain

specified persons (listed in get across index

withholding agent wise), commonly known as

―Withholding Agents‖ at the same time when an

economic activity happens.. This sales brochure

explains the provisions in the Income Tax

Code, 2001 regulating withholding duty in a

guaranteed concise way. It largely revolves

throughout the obligations with the withholding providers

as to collection or deduction of tax at resource, i. at the. –

o

o

o

o

to

o

o

o

to

152

153

Identifying the withholding providers;

Persons coming from whom tax is to be deducted or

accumulated;

Applicable prices of withholding taxes;

Basis of withholding duty;

Time of deductions;

Time of first deposit of duty deducted or collected in

the accounts of Authorities;

Frequency and time of submitting the

transactions of tax deducted or perhaps collected;

Appropriate exemptions and reduced prices;

and

Liabilities of the withholding agents and

consequences of non-compliance.

153A

154

one hundred fifty five

156

156A

A cross-index of different duty withholding agents

and the matching applicable conditions of

legislation is also offered for easy and quick reference.

156B

231A

231AA

231B

233

233A

This brochure has been arranged section wise.

Meanings

of

several

expressions

and

terminologies employed shown in italic strong are given

at the conclusion of this products / services brochure.

This products / services brochure is to help the taxpayers and reveal the

legal position during the time of printing. In the case of any

issue the legal provisions in the law shall always

prevail over the articles of this sales brochure.

234

234A

235

236

236A

236B

Comments and suggestions

All of us welcome the comments concerning this brochure as well as your

suggestions for future editions.

You may e-mail take a look at [email protected] gov. pk

or

You can create to us at the following talk about:

Facilitation and Taxpayer Education

Federal Panel of Revenue,

Constitution Method,

Islamabad

Material

Page

Import of goods

Payment of income

Payment of dividend

Payment of earnings on debt

On Countrywide Savings Techniques or Post

Office Family savings

On consideration or put in with banking

company or perhaps financial institution

In securities with the Federal and

Provincial Government authorities or a Regional

authority

About bond, license, debenture,

protection or device of any kind

Payment to non-resident

Royals and charge for technical services

Performance of contracts etc .

Insurance or re-insurance premium

Additional payments

Repayment for products; services and

execution of contracts

Sale for goods, companies rendered or

provided and execution of the contract

(Residents

and...

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