Regarding values of minerals for the purpose of Sub-Section (4) of Section 236V of the Income Tax Ordinance, 2001
SRO 1226(I)/2018 is an Income Tax SRO dated 8 October 2018, listed by FBR as "Regarding values of minerals for the purpose of Sub-Section (4) of Section 236V of the Income Tax Ordinance, 2001".
FBR publishes this SRO as scanned images, so the text below was transcribed by Qanoon Digest from the page images, with tables set out as tables. Check the official PDF before relying on any wording or figure.
Page 1
GOVERNMENT OF PAKISTAN
REVENUE DIVISION
FEDERAL BOARD OF REVENUE
Islamabad, the 5th October, 2018.
NOTIFICATION
(Income Tax)
S.R.O. 1226(I)/2018.- The following draft of certain further amendments in the Income Tax Rules, 2002, which the Federal Board of Revenue proposes to make in the exercise of the powers conferred by sub-section (1) of section 237 of the Income Tax Ordinance, 2001 (XLIX of 2001), is hereby published for the information of all persons likely to be affected thereby, as required by sub-section (3) of the said section 237 and notice is hereby given that the draft shall be taken into consideration by the Federal Board of Revenue after seven days of its publication in the official Gazette.
Any objection or suggestion, which may be received from any person, in respect of the said draft, before the expiry of the aforesaid period, shall be considered by the Federal Board of Revenue.
DRAFT AMENDMENTS
In the aforesaid Rules, in Chapter XIX, after rule 231H, the following new rule shall be added, namely:-
"231I. Values of minerals for the purpose of sub-section (4) of section 236V of the Income Tax Ordinance, 2001. - The values of minerals specified in column (2) of the Table below for the purposes of sub-section (4) of section 236V of the Ordinance shall be as specified in column (3) thereof, namely: -
TABLE
| S.No | Name of mineral | Rate per metric tonne (in Rupees) |
|---|---|---|
| (1) | (2) | (3) |
| 1 | Asbestos | 7500 |
| 2 | Antimony | 18000 |
| 3 | Agglomerate | 10000 |
| 4 | Barite | 10000 |
| 5 | Basalt | 14000 |
| 6 | Bentonite | 6000 |
| 7 | Bauxite | 7000 |
| 8 | Bajri | 1200 |
| 9 | Brine/salt | 875 |
| 10 | Coal | 8000 |
| 11 | Clay | 2500 |
| 12 | Calcite | 2000 |
Page 2
| S.No | Name of mineral | Rate per metric tonne (in Rupees) |
|---|---|---|
| 13 | Celestite | 2500 |
| 14 | Conglomerate | 3000 |
| 15 | Chromite | 25000 |
| 16 | Dolomite | 3000 |
| 17 | Diorite | 10000 |
| 18 | Fluorite | 16000 |
| 19 | Fullers Earth | 2000 |
| 20 | Fire Clay | 2000 |
| 21 | Gypsum | 3000 |
| 22 | Granite | 20000 |
| 23 | Gabro stone | 15000 |
| 24 | Granodiorite | 15000 |
| 25 | Gravel | 1000 |
| 26 | Iron ore | 8000 |
| 27 | Limestone (for manufacturers of cement) | 6000 |
| 28 | Limestone (other than cement factory) | 2000 |
| 29 | Laterite | 1250 |
| 30 | Marble onyx | 25000 |
| 31 | Magnesite | 6000 |
| 32 | Marble (other than onyx) | 6000 |
| 33 | Manganese | 8000 |
| 34 | Ochre / red ochre | 6000 |
| 35 | Ordinary stone | 1400 |
| 36 | Pumice | 3000 |
| 37 | Quartz | 6000 |
| 38 | Quartzite | 5000 |
| 39 | Silica sand | 6000 |
| 40 | Sulphur | 6000 |
| 41 | Soap stone | 7000 |
| 42 | Serpentine | 5000 |
| 43 | Shale (cement industry) | 3000 |
| 44 | Sand | 1000 |
| 45 | Sandstone | 750 |
| 46 | Slate stone | 2500 |
| 47 | Tar sand | 750 |
| 48 | Tuff | 2500 |
".
[F.No.4(131)IT-Budget/2016]
(Reema Masud)
Secretary (Income Tax Budget)
Related Income Tax SROs on withholding and collection
- SRO 140(I)/20202 March 2020Values of minerals for the purpose of sub-section (4) of section 236V of Income Tax Ordinance, 2001
- SRO 111(I)/202014 February 2020Recovery of Tax from Persons holding money on behalf of Taxpayer
- SRO 1330(I)/201730 December 2017Extension of reduced withholding tax rate for non-filers under section 236P of the Income Tax Ordinance, 2001 upto 30th June, 2018.
- SRO 602(I)/20173 July 2017Extension of reduced withholding tax rate for non-filers under section 236P of the Income Tax Ordinance, 2001 upto 30th September, 2017
- SRO 720(I)/20161 August 2016The rate of tax witholding u/s 236p of the Income Tax ordinance 2001 has been reduced to 0.4% from 0.6% on bank transactions for one month upto 31-08-2016
- SRO 494(I)/201630 June 2016The rate of tax withholding u/s 236p of the Income Tax Ordinance 2001 has been reduced to 0.4 % from 0.6 % on bank transactions for one month upto 31-07-2016