Values of minerals for the purpose of sub-section (4) of section 236V of Income Tax Ordinance, 2001
SRO 140(I)/2020 is an Income Tax SRO dated 2 March 2020, listed by FBR as "Values of minerals for the purpose of sub-section (4) of section 236V of 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 2nd March, 2020.
NOTIFICATION
(Income Tax)
S.R.O.140(I)/2020.- In exercise of the powers conferred by sub-section (1) of section 237 of the Income Tax Ordinance, 2001 (XLIX of 2001), the Federal Board of Revenue is pleased to direct that the following further amendments shall be made in the Income Tax Rules, 2002, the same having been previously published vide Notification No. S.R.O.1226(I)/2018, dated the 5th October, 2018, as required by sub-section (3) of the said section, namely:-
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.- (1) 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 are specified in column (3) thereof, namely:-
TABLE
| S.No | Name of mineral | Rate per metric tonne (in Rupees) |
|---|---|---|
| (1) | (2) | (3) |
| 1 | Argilaceous clay | 500 |
| 2 | Asbestos | 4875 |
| 3 | Antimony | 11700 |
| 4 | Agglomerate | 6500 |
| 5 | Barite | 6500 |
| 6 | Basalt | 9100 |
| 7 | Bentonite | 3900 |
| 8 | Bauxite | 4550 |
| 9 | Bajri | 780 |
Page 2
| S.No | Name of mineral | Rate per metric tonne (in Rupees) |
|---|---|---|
| 10 | Brine/salt | 570 |
| 11 | Barytes | 875 |
| 12 | Ball clay | 875 |
| 13 | Coal | 5000 |
| 14 | Clay | 1625 |
| 15 | China Clay | 625 |
| 16 | Calcite | 1300 |
| 17 | Celestite | 1625 |
| 18 | Conglomerate | 1950 |
| 19 | Chromite | 18750 |
| 20 | Chalk | 2500 |
| 21 | Dolomite | 2250 |
| 22 | Diorite | 6500 |
| 23 | Fluorite | 10400 |
| 24 | Fullers Earth | 1300 |
| 25 | Fire Clay | 1300 |
| 26 | Gypsum | 1950 |
| 27 | Granite | 13000 |
| 28 | Gabro stone | 9750 |
| 29 | Granodiorite | 9750 |
| 30 | Gravel | 750 |
| 31 | Iron ore | 5200 |
| 32 | Limestone (for manufacturers of cement) | 4500 |
| 33 | Limestone (other than cement factory) | 1500 |
| 34 | Laterite | 815 |
| 35 | Lake salt | 875 |
| 36 | Marble onyx | 16250 |
| 37 | Magnesite | 3900 |
| 38 | Marble (other than onyx) | 3900 |
| 39 | Manganese | 5200 |
| 40 | Ochre / red ochre | 3900 |
| 41 | Ordinary stone | 910 |
| 42 | Pumice | 1950 |
| 43 | Quartz | 3900 |
| 44 | Quartzite | 3250 |
| 45 | Rock salt | 875 |
| 46 | Silica sand | 4500 |
| 47 | Sulphur | 3900 |
| 48 | Soap stone | 5250 |
Page 3
| S.No | Name of mineral | Rate per metric tonne (in Rupees) |
|---|---|---|
| 49 | Serpentine | 3250 |
| 50 | Shale (cement industry) | 2500 |
| 51 | Sand | 650 |
| 52 | Shale | 750 |
| 53 | Slate Stone | 1875 |
| 54 | Sandstone | 750 |
| 55 | Tar sand | 490 |
| 56 | Tuff | 1625 |
(2) Advance tax shall be collected by the provincial authority or a person authorized by the provincial authority to collect or recover royalty on minerals excavated and transported from leased area.
(3) Where a person having authority to collect or recover royalty on behalf of the provincial authority-
(a) fails to collect tax as required; or
(b) having collected tax fails to pay the tax to the Commissioner as required under section 160,
the person having authority to collect or recover royalty as well as provincial authority shall be jointly and severally liable to pay the amount of tax to the Commissioner who may pass an order to that effect and proceed to recover the same.".
[F.No.4(131)IT-Budget/2016]
(Abdul Wahid Shar)
Secretary (Income Tax Budget)
Related Income Tax SROs on withholding and collection
- SRO 111(I)/202014 February 2020Recovery of Tax from Persons holding money on behalf of Taxpayer
- SRO 1226(I)/20188 October 2018Regarding values of minerals for the purpose of Sub-Section (4) of Section 236V of the Income Tax Ordinance, 2001
- 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