S.R.O. 787(I)/2011, Islamabad, the 22nd August, 2011

SROS: S.R.O. 787(I)/2011, Islamabad, the 22nd August, 2011 SPECIFIC EXEMPTION FOR GROWERS OF AGRICULTURAL PRODUCE, OIL TANKERS EXPENSES AND STEEL MELTERS.THE OMITTED CLAUSE(12) OF PART-IV OF SECOND SCHEDULE TO THE INCOME TAX ORDINANCE 2001 HAS BEEN SUBSTITUTED THROUGH SRO 787(I)/2011 DATED AUGUST 22, 2011. THE S S.R.O. 787(I)/2011, Islamabad, the 22nd August, 2011:- In exercise of the powers conferred by sub-section(2) of section 53 of the Income Tax Ordinance, 2001(XLIX of 2001), the Federal Government is pleased to direct that the following further amendments shall be made in the Second Schedule to the said Ordinance, namely:- In the aforesaid Schedule, in Part-IV, after the clause(11A) the following new clause shall be inserted, namely:- (12)(a) The provisions of clause(1) of section 21 and clause(a) of sub-section(1) of section 153 shall not apply where agricultural produce is purchased directly from the grower of such produce, subject to provision of a certificate by the grower to the withholding agent in the following format, namely:- Certificate to be filed by the grower of agricultural produce It is certified that I................................................... holder of CNIC Number ............................................ Have sold following agricultural produce, namely: i) name of agricultural produce: (wheat, rice, cotton, sugarcane etc., ______________________ ii) quantity:…