S.R.O. 1062(I)/2007, dated October 27, 2007

SROS: S.R.O. 1062(I)/2007, dated October 27, 2007 CENTRALBOARD OF REVENUE IS PLEASED TO DIRECT THAT THE FOLLOWING FURTHER AMENDMENTS SHALL BE MADE IN THE INCOME TAX RULES, 2002.......... S.R.O. 1062(l)/ 2007, dated October 27, 2007:- In exercise of the powers conferred by sub-section(1) of section 237 of the Income Tax Ordinance, 2001(XLIX of 2001), the Central Board of Revenue is pleased to direct that the following further amendments shall be made in the Income Tax Rules, 2002, the same having previously published as required by sub-section(3) of the said section, namely:- In the aforesaid Rules,- (1) rule 41 shall be omitted; (2) in Rule 42, in the heading, the words other than salary shall be omitted; (3) in the Second Schedule, in Part VII, for the list overleaf Certificate of Collection or Deduction of Tax the following shall be substituted namely:- LIST Section On account of Section On account of 148 Import, of goods 149 Payment of Salary 150 Payment of Dividend 151(l)(a) Payment or credit of profit on debt to a resident person on schemes of National Savings 151(1Kb) Payment or credit of profit on debt to a resident person on an account or deposit with a banking company or a financial institution 151(1 )(c) Payment or credit of profit on to a resident person on securities of Federal or Provencal Government or a local authority 151( l)(d) Payment or credit of profit on debt to a resident person on any bond, certificate, debenture, security or any other instrument by a banking company, financial institution, company incorporated under the Companies Ordinance, 1984, a body corporate formed by or under any law in force in Pakistan or a finance society 152(1) Payment to a non-resident person on account of royalty or fee for technical services 152(lA)(a) Payment to a non-resident on account of execution of a contract or sub-contract under a construction, assembly or installation project in Pakistan, including a contract for the supply of supervisory activities in relation to such project. 152(lA)(b) Payment to a non-resident on account of execution of any other contract for construction or services rendered relating thereto. 152(lAXc) Payment to a non-resident…