LAHORE: The Federal Board of Revenue (FBR) Regional Tax Office-I has issued 400 withholding tax notices to various business concerns and individuals.
Sources said that the RTO-1 issued one week notice to the withholding tax agents, including housing societies, contractors, doctors and textile mills for the financial year 2014-15.
They informed that the withholding tax agents would produce their record to the RTO-1 and services supplies and receipts above Rs 20,000 would be taxed, adding that the services, supplies and receipts blow Rs 20,000 would be exempted from the tax.
The sources said that on services and receipts, the WHT would be charged at the rate of 6 percent while on supplies at the rate of three and a half percent.
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