ISLAMABAD: Federal Board of Revenue (FBR) has issued a guide named ‘exemption under 2nd Schedule Part-II, III and IV of Income Tax Ordinance, 2001 categorised and arranged on each Withholding Section Basis’ to facilitate taxpayers especially withholding agents.
To facilitated taxpayers, FBR issued a comprehensive guide wherein exemptions from withholding taxes under Part-II, III & IV of Second Schedule to the Income Tax Ordinance, 2001 have been categorised and arranged on the basis of each withholding tax section.
Sources said, this action would be helpful for proper compliance of withholding taxes provisions contained in the Income Tax Ordinance, 2001. This will facilitate the withholding agents to avoid unnecessary litigation and in timely compliance of withholding agents obligations.
