Amendments shall be made in the Second Schedule of Income Tax Ordinance

Government of Pakistan
Revenue Division
Federal Board of Revenue

Islamabad, the 13th November, 2013

NOTIFICATION
(Income Tax)

S.R.O.978(I)/2013. - In exercise of powers conferred by sub-section (2) of section 53 of the Income Tax Ordinance, 2001 (XLIX of 2001), the Federal Government is pleased to direct that the following further amendments shall be made in the Second Schedule to the said Ordinance, namely:-

In the aforesaid Schedule,-

(i) in Part III, after clause (15), the following new clause shall be added, namely:-

"(16) The minimum penalty for failure to furnish statement under section 115, 165 or 165A as mentioned in column (3) against serial No. (1A) in the Table given in sub-section (1) of section 182 shall be reduced to ten thousand rupees."; and

(ii) in Part IV, after clause (81), the following new clauses shall be added, namely:-

"(82) The provisions of sub-section (2) of section 116 shall not apply for the tax year 2013 to an individual or a member of an association of persons whose last declared or assessed income, or the declared income for the year is less than one million rupees.

(83) The provisions of sub-section (4) of section 116 shall not apply for the tax year 2013 to a person other than a company or a member of an association of persons falling under final tax regime (FTR) and has paid tax less than thirty five thousand rupees .".

[No. 4(67) ITP/2013]

(Shahid Hussain Asad)
Additional Secretary/
Member (Inland Revenue Policy)