10-07-2011, 03:27 PM
Assalam o Alaikum forum members
sub section 2 of section 155 was omitted by finance act 2010.The omitted sub-section (2) read as follows ¯"(2) The tax deducted under sub-section (1) shall be a final tax on the income from property." now my questions are
1- what would be the treatment for tax on income from property while filing the income tax return for tax year 2011;
2-in income tax return on page IT 2 of 2 it has been mentioned as fixed tax below the final tax portion. where as from the statute relevent section 155(2) had been omitted.
sub section 2 of section 155 was omitted by finance act 2010.The omitted sub-section (2) read as follows ¯"(2) The tax deducted under sub-section (1) shall be a final tax on the income from property." now my questions are
1- what would be the treatment for tax on income from property while filing the income tax return for tax year 2011;
2-in income tax return on page IT 2 of 2 it has been mentioned as fixed tax below the final tax portion. where as from the statute relevent section 155(2) had been omitted.