S.R.O. 58(I)/2010, dated 2-2-2010

SROS: S.R.O. 58(I)/2010, dated 2-2-2010 AMENDMENTS IN THE INCOME TAX RULES, 2002 S.R.O. 58(I)/2010, dated 2-2-2010:- In-exercise of the powers conferred by sub-section(1) Of section 237 of the Income Tax Ordinance, 2001(XLIX of 2001), the Federal 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, after rule 230, the following new rule shall be-inserted, namely:-231. Computation of export profits attributable to export sales.- (1) Where a taxpayer exports any goods manufactured in Pakistan, the taxpayers profits attributable to export sales of such goods- shall be computed in the following manner, namely:- (a) where a taxpayer maintains separate, accounts of the business of export of goods manufactured in Pakistan, the profits of the export business, shall be taken to be such amount as may be…