S.R.O. 1139(I)/2008, dated 31st October, 2008

AMENDMENTS IN THE INCOME TAX RULES, 2002 Notification No. S.R.O. 1139(I)/2008, dated 31st October, 2008:- 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,-- (a) in Rule 40, after sub-rule(2), the following new sub-rules shall be added, namely:-- (3) An application for a certificate under sub-section(1) of section 159 read with clause(v) of paragraph 1 of Notification No. S.R.O. 947(I)/2008, dated the 5th September, 2008, shall be in the form specified in Part VIII(a) of the First Schedule to these rules. (4) A system based exemption certificate issued by the Commissioner for goods specified under clause(V) of paragraph l of Notification No. S.R.O. 947(I)/2008, dated the 5th September, 2008 shall be in the form specified in Part-VIII(a) of the First Schedule to these rules.; and (b) in the First Schedule,- (i) after Part VII, the following shall be inserted, namely;- PART VII(A) OF THE FIRST SCHEDULE APPLICATION FOR CERTIFICATE OF EXEMPTION UNDER SECTION 159 OF THE INCOME TAX ORDINANCE, 2001 [See Rule 40(3)] To, The Commissioner of Income Tax ____________________________ I, Principal Officer/Member of AOP/Individual Proprietor of M/s.__________________________ hereby declare that I am entitled to import goods without collection of tax at source on the following basis, in accordance with the provisions of clause(v) of paragraph 1 of Notification No. S.R.O. 947(I)/2008, dated 05-09-2008 for the tax year: (i) The goods imported consist of plant, machinery, fixtures, fittings or its allied equipments for the purposes of setting up an industrial undertaking(including hotel) owned by me. (ii) Goods imported consist of plant, machinery, fixtures, fittings or its allied equipments are for the purpose of installation/utilization in an existing industrial undertaking(including hotel) owned by me. (Tick whichever is applicable) I, therefore, request that…