LAHORE: Federal Board of Revenue (FBR) has sought objections as well as suggestions on the amended draft of Income Tax Rules, 2002 through an SRO 1022(I)/2021 dated 16th August 2021.

According to the SRO, a draft of amendments has been incorporated to the rules under subsection (1) of section 237 of the Income Tax Ordinance, 2001 and is being published for the information for all the persons likely to be affected thereby.

The SRO has further clarified that the objections and suggestions on the amended draft are being sought under subsection (3) of the above-mentioned section and the interested ones are required to submit their submissions within seven days of the date of publication of the amended draft in the official gazette.

The draft of amendments is consisted of 23 pages and it deals with individuals deriving income under any head other than salary/business and those deriving income under the head of business and any other head except salary.

Copyright Business Recorder, 2021