The govt. has decided to withdraw reduced rates of income tax applicable on nine different sectors/industries and determine actual tax liability for four sectors under the Income Tax (Second Amendment) Bill 2021 submitted to the National Assembly Secretariat. Income Tax (Second Amendment) Bill 2021 has proposed amendments to the Part-II (reduction in tax rates) and Part-III (reduction in tax liability) of the Second Schedule of the Income Tax Ordinance 2001.
13/3/2021