Traders submit proposals to FBR for amendments in rules, regulations

HYDERABAD: President of Hyderabad Chamber of Small Traders and Small Industry (HCSTSI) Muhammad Akram Ansari Thursday submitted three proposals to the Federal Board of Revenue and Ministry of Commerce and Textile for amendment in various rules and regulations related to common man.

He informed "these budget proposals have been prepared in a meeting of the office bearers of HCSTSI and appealed to the government to provide relief to people by making amendments in the rules and regulations of FBR."

The HCSTSI observed cereal (Dal) was major food item like wheat and rice therefore it recommended to the government that maximum tax percentage on “Dal”, “Chana”, “Mung”, “Masur” and “Urad” might be reduced at par with other edible items to 0.2 percent from one percent in order to grant relief to the “Dal” Industry.

The HCSTSI also observed that the rates of the property notified for city of Hyderabad, Latifabad and Qasimabad were higher than Karachi which should be re-notified looking to market prices and price fixed by the Deputy Collector to facilitate the builders.

The president said that HCSTSI also recommended that limit of withholding tax agent should be increased of AOP companies from 50 millions to 250 millions.