Withholding Tax Card 2016/2017: advance tax on dealers, commission agents and arhatis
KARACHI: The Federal Board of Revenue (FBR) has updated advance tax on dealers, commission agents and arhatis for fiscal year 2016/2017 which would be collected at the time of issuance or renewal of licenses.
Advance tax on dealers, commission agents and arhatis etc Under Section 236J of Income Tax Ordinance, 2001.
Sub-Section (1): Every market committee shall collect advance tax from dealers, commission agents or arhatis, etc. at the rates: Group or Class A at Rs10,000 per annum; group or class B at Rs7,500/annum; group or class C at Rs5,000/annum; and another other category at Rs5,000/annum at the time of issuance or renewal of license.
Sub-Section (2): The advance tax collected under sub-section (1) shall be adjustable.
In this section market committee includes any committee or body formed under any provincial or local law made for the purposes of establishing, regulating or organizing agricultural, livestock and other commodity markets.