Amendment in S.R.O No. 978(I)/2022 dated 30.06.2022
SRO 1829(I)/2022 is an Income Tax SRO dated 3 October 2022, listed by FBR as "Amendment in S.R.O No. 978(I)/2022 dated 30.06.2022".
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
Notification
(Income Tax)
Islamabad, the 3rd October, 2022.
S.R.O. 1829(I)/2022.- The following draft of certain further amendments in the Income Tax Rules, 2002, which the Federal Board of Revenue proposes to make in 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 information of all persons likely to be affected thereby and, as required by sub-section (3) of the said section 237, notice is hereby given that the objections or suggestions thereon, if any, may for consideration of the Federal Board of Revenue be sent within seven days of publication of the draft in the official Gazette. Objections or suggestions which may be received from any person in respect of the said draft, before the expiry of the aforesaid period, shall be taken into consideration by the Federal Board of Revenue, namely: -
Draft Amendment
In the aforesaid Rules, in the Second Schedule, in Part-II-V, in the heading "Tax chargeable/Payments" the following form shall be inserted, namely: -
"[Form image: screen of the return form "114(1) (Return of Income filed voluntarily for complete year)", Tax Year 2022, section "Capital Assets u/s 7E". Its table has the columns Description, Code, Cost / Declared Value, Fair Market Value, Action, with these rows:]
| Description | Code | Cost / Declared Value | Fair Market Value |
|---|---|---|---|
| Agriculture Property excluding Farmhouse | 7100 | ||
| Farmhouse | 7101 | ||
| Residential Property | 7102 | ||
| Commercial Property | 7103 | ||
| Industrial Property | 7104 | ||
| Any other immovable capital asset | 7105 | ||
| Total Value of capital assets | 7106 | ||
| Total value of capital assets taxable under section 7E | 7107 | 0 | 0 |
| Deemed Income under section 7E | 7108 | ||
| Tax on deemed income under section 7E | 923183 |
".
Page 2
This Notification shall be applicable for the tax year 2022.
[F.No.1(17)R&S/2022]
(Usman Asghar)
Secretary (Rules & SROs)
Which SROs does the title refer to?
- SRO 978(I)/202230 June 2022Income Tax Return Forms for Salaried Persons, AOPs, Business Individual and Companies for Tax Year 2022
Related Income Tax SROs on amendments to earlier sros
- SRO 1610(I)/202225 August 2022Further amendments in SRO 1180(I)/2022 - Islamabad
- SRO 593(I)/202214 May 2022Amendment in SRO 337(I)/2022 dated 02.03.2022
- SRO 548(I)/202223 April 2022Amendment in S.R.O 345(I)/2022 dated 02.03.2022
- SRO 428(I)/202215 March 2022Amendment in SRO 342(I)/2022
- SRO 1240(I)/202020 November 2020Amendment in the Twelfth Schedule
- SRO 1020(I)/20207 October 2020Rescission of SRO 947(I)/2008 dated 5th September, 2008