We have do deduct withholding tax on payments made for supply of goods and services received as per rate specified in income tax law but there is also an exemption for payment which are in aggregate of less than or equal to Rs 25,000/= on supply of goods and Rs 10,000/= on services received, which is also mention in Income Tax Law but I now forget where exactly this is mention in Income Tax Law can any body help me to find where this exemption of WHT is mention in Income Tax Law
<blockquote id="quote"><font size="1" face="Verdana, Arial, Helvetica, san" id="quote">quote<hr height="1" noshade id="quote"><i>Originally posted by accounty</i>
<br />We have do deduct withholding tax on payments made for supply of goods and services received as per rate specified in income tax law but there is also an exemption for payment which are in aggregate of less than or equal to Rs 25,000/= on supply of goods and Rs 10,000/= on services received, which is also mention in Income Tax Law but I now forget where exactly this is mention in Income Tax Law can any body help me to find where this exemption of WHT is mention in Income Tax Law
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This is mentioned in SRO issued under Income Tax Ordinance, 1979. I do not exactly know the number of SRO but you can easily trace it by searching on the google.
<blockquote id="quote"><font size="1" face="Verdana, Arial, Helvetica, san" id="quote">quote<hr height="1" noshade id="quote"><i>Originally posted by accounty</i>
<br />We have do deduct withholding tax on payments made for supply of goods and services received as per rate specified in income tax law but there is also an exemption for payment which are in aggregate of less than or equal to Rs 25,000/= on supply of goods and Rs 10,000/= on services received, which is also mention in Income Tax Law but I now forget where exactly this is mention in Income Tax Law can any body help me to find where this exemption of WHT is mention in Income Tax Law
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you can find it here
http//www.fbr.gov.pk/newdt/circulars/1991cir26.pdf