WHT on bank transaction: FBR extends time period up to November 7

The Federal Board of Revenue (FBR) has extended time period for applicability of 0.3 percent withholding tax on banking transactions of non-filers up to November 7, 2015. According to SRO 1056(I)/2015 issued on Saturday, in exercise of the powers conferred by proviso under Division XXI of Part IV of the First Schedule to the Income Tax Ordinance, 2001 (XLIX of 2001), the federal government has extended the time period for applicability of 0.3 percent reduced rate under Division XXI of Part IV of the First Schedule read with Section 236P of the said Ordinance, to November 7, 2015.