Amendment in draft Rule 43 of Income Tax Rules, 2002

GOVERNMENT OF PAKISTAN
Revenue Division
Federal Board of Revenue

Islamabad, the 27th March, 2017

NOTIFICATION

S.R.O. 206 (I)/2017.- 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 the information of all persons likely to be affected thereby, as required by sub-section (3) of the said section, and notice is hereby given that the draft shall be taken into consideration 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 and before the expiry of the aforesaid period, shall be considered by the Federal Board of Revenue.

DRAFT AMENDMENT

In the aforesaid Rules, in rule 43, for clause (b), the following shall be substituted, namely:-

"(b) where the tax has been collected or deducted by a person other than the Federal Government or a Provincial Government,-

(i) by remittance to the Government Treasury or deposit in an authorized branch of the State Bank of Pakistan or the National Bank of Pakistan, within seven days from the end of each week ending on every Sunday; and

(ii) by remittance abroad to a non-resident through State Bank or any other banking company, prior to remitting abroad of the amount from which tax is to be deducted or collected."

[F.No.1(22)Rules&SROs/2017]

(Syed Hassan Sardar)
Secretary (Rules & SROs)