Withdrawal of section regarding collection of advance tax
Withdrawal of section regarding collection of advance tax: The Finance Bill 2021 proposes to withdraw the responsibility of different persons from collection of advance tax on account of following. Accordingly, relevant tax rates have also been removed from Schedule 1 of the Income Tax ordinance.
| Collection of tax on cash Withdrawal from a bank | 231A |
| Advance tax on transaction in bank | 231AA |
| Collection of tax from members by a stock exchange registered in Pakistan- | 233A |
| Collection of tax by NCCPL from members, Margin Financiers, trading Financier
on Marginal Financing. |
233AA |
| Collection of tax through gas bill of a Compressed Natural Gas station | 234A |
| Advance tax on purchase of domestic air ticket by Airline | 236B |
| Tax on sale of certain petroleum products | 236HA |
| Advance tax on purchase of international air ticket | 236L |
| Collection of tax on banking transactions other than through cash. | 236P |
| Collection of tax at the time of making payment of Dividend in specie | 236S |
| Collection of tax on extraction of minerals. | 236V |
| Collection of tax from persons remitting amounts abroad through credit or
debit or prepaid cards. |
236Y |
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