SRO 547(I)/2012, Exemption has been granted to withholding agents to the whole of the amount of default surcharge and penalty for non deduction of advance withholding tax or having deducted or withheld failed to deposit the withholding tax deducted or withheld
SRO 547(I)/2012 is an Income Tax SRO dated 22 May 2012, listed by FBR as "SRO 547(I)/2012, Exemption has been granted to withholding agents to the whole of the amount of default surcharge and penalty for non deduction of advance withholding tax or having deducted or withheld failed to deposit the withholding tax deducted or withheld".
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 22nd May, 2012.
NOTIFICATION
(Income Tax)
S.R.O. 547 (I)/2012. - In exercise of the powers conferred by section 183 of the Income Tax Ordinance, 2001 (XLIX of 2001), the Federal Government is pleased to exempt whole of the amount of default surcharge and penalty for non-payment leviable under the said Ordinance in cases, where-
(i) the withholding agents have not deducted advance withholding tax as required under the said Ordinance; or
(ii) the withholding agents have deducted or withheld income tax but not deposited the tax deducted or withheld within due dates as prescribed under the Ordinance; or
(iii) any tax amount is outstanding as on the 30th April, 2012,
and the defaulting withholding agents or taxpayers specified in clauses (i), (ii) and (iii) deposit the due amount of tax in the government treasury on or before the 31st May, 2012.
- In a case where refund becomes due to any person in consequence of a decision or judgment of court after the issuance of this Notification, the tax deposited by that person under this Notification shall be refunded to him.
[C.No. 4(21)ITP/2011]
(Shahid Hussain Asad)
Member (Inland Revenue/
Additional Secretary
Which later SROs refer to this one?
SROs whose FBR title names SRO 547(I)/2012, usually to amend or rescind it.
- SRO 699(I)/201211 June 2012Extension in the date of applicability of SRO 547(I)/2012 dated 22/5/2012
Related Income Tax SROs on exemptions and concessions
- SRO 1077(I)/201231 August 2012Ammendment in 2nd Schedule in Income Tax ordinance 2001.
- SRO 607(I)/20122 June 2012Exemption from Customs duty/sales tax/Income Tax on import of Hybrid Electric Vehicles (HEV)
- SRO 550(I)/201223 May 2012A new clause(24B) has been inserted in Part-II of Second Schedule of the Income Tax Ordinance 2001, to provide for reduced rates of minimum tax under sections 113 and withholding tax under section 153, in case of steel mills and steel re-rolling mills.
- SRO 549(I)/201222 May 2012A new clause is being added in lieu of which Motors Cycles dealers registered under the Sales Tax Act, 1990, will pay minimum tax under section 113 at the reduced rate of 50 % for the tax year 2011 and 75% for the year 2012 onwards.
- SRO 2012SRO38318 April 2012Amendment in Second Schedule to the Income Tax Ordinance, 2001
- SRO 2012SRO648 February 2012Amendment in Second Schedule to the Income Tax Ordinance, 2001