The 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 720(I)/2016 is an Income Tax SRO dated 1 August 2016, listed by FBR as "The 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".
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 1st August, 2016
Notification
(Income Tax)
S.R.O.720(I)/2016.- In exercise of the powers conferred by proviso under Division XXI of Part IV of the First Schedule to the Income Tax Ordinance, 2001 (XLIX of 2001), the Federal Government is pleased to direct that in its Notification No. S.R.O. 494 (I)/2016 dated 30th June, 2016, the following amendments shall be made namely:-
In the aforesaid notification, for the words "first day of July, 2016 to thirty first day of July, 2016", the words "first day of August, 2016 to thirty first day of August, 2016" shall be substituted.
[F.No.4(21)ITP/2015]
(Shaukat Ali)
Member (Legal)/
Additional Secretary
Which later SROs refer to this one?
SROs whose FBR title names SRO 720(I)/2016, usually to amend or rescind it.
- SRO 811(I)/201631 August 2016Amendment in S.R.O 720(I)/2016 dated 01.08.2016
Related Income Tax SROs on withholding and collection
- 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 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
- SRO 216(I)/201615 March 2016The rate of withholding tax under section 236P has been reduced to 0.4% from 0.6% upto 31st March, 2016
- SRO 169(I)/201629 February 2016The rate of withholding tax u/s 236p has been reduced to 0.4% from 0.6% up to 15th March 2016
- SRO 964(I)/201530 September 2015Extension in the applicability rate of withholding tax under section 236P of the Income Tax Ordinance, 2001