List of transactions not to attract 100 percent increased withholding tax

KARACHI: The Finance Bill 2019 has proposed a new schedule related to compliance with 100 percent increased withholding tax rates to persons not appearing on Active Taxpayers List (ATL).

Deloitte Yousuf Adil, Chartered Accountants in their budget commentary said that the increased withholding tax rates specified under this schedule are inapplicable with respect to following payments and related withholding tax provisions in the case of Person not appearing in the Active Taxpayer list:

Salary under section 149 of Income Tax Ordinance, 2001

Export under section 154 of Income Tax Ordinance, 2001

Income from Property under section 154 of Income Tax Ordinance, 2001

Withdrawal of Balance under Pension Fund under section 156B of Income Tax Ordinance, 2001

Cash withdrawal from Bank under section 231A of Income Tax Ordinance, 2001

Advance Tax on Transactions in Bank under section 231AA of Income Tax Ordinance, 2001

Collection of Tax by NCCPL under section 233AA of Income Tax Ordinance, 2001

Electricity Consumption under section 235 of Income Tax Ordinance, 2001

Domestic Electricity Consumption under section 235A of Income Tax Ordinance, 2001

Tax on Steel Melters, Re-Rollers etc under section 235B of Income Tax Ordinance, 2001

Advance Tax on Purchase of Air Tickets under section 236B of Income Tax Ordinance, 2001

Advance Tax on Functions and Gatherings under section 236D of Income Tax Ordinance, 2001

Advance Tax on Cable Operators and Other Electronic Media under section 236F of Income Tax Ordinance, 2001

Collection of Advance Tax by Educational Institutions under section 236I of Income Tax Ordinance, 2001

Advance Tax on Dealers, Commission Agents and Arthis etc under section 236J of Income Tax Ordinance, 2001

Advance Tax on Purchase of International Air Tickets under section 236L of Income Tax Ordinance, 2001

Advance Tax on Banking Transactions otherwise than through Cross Cheque under section 236P of Income Tax Ordinance, 2001

Payment to residents for use of machinery and equipment under section 236Q of Income Tax Ordinance, 2001

Collection of advance tax on education related expenses remitted abroad under section 236R of Income Tax Ordinance, 2001

Advance Tax on Insurance Premium under section 236U of Income Tax Ordinance, 2001

Advance Tax on extraction of minerals under section 236V of Income Tax Ordinance, 2001

Advance Tax on Tobacco under section 236X of Income Tax Ordinance, 2001

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