Sections of Income Tax Ordinance
In Pakistan, there are different sections of Income Tax Ordinance, Things to remember
Section-149-Income from Salary
Section-148-Import of goods
Section-150-Payment of dividend
Section-151-Payment of profit on debt
Section-151(1)(a)-On National Savings Schemes or Post Office Savings Account
Section-151(1)(b)-On account or deposit with banking company or financial institution
Section-151(1)(c)-On securities of the Federal and Provincial Governments or a Local authority
Section-151(1)(d)-On bond, certificate, security or instrument of any kind
Section-152-Payment to non-resident
Section-152(1)-Royalty and fee for technical services
Section-152(1A)-Execution of contracts etc.
Section-152(1AA)-Insurance or re-insurance premium
Section-152(1AAA)-Media persons
Section-152(2)-Other payments
Section-152(2A)-Sale of goods, services & contracts
Section-153-Payment for goods; services and execution of contracts
Section-153(1)-Sale of goods, services rendered or provided and execution of a contract
Section-153(1A)-Services of Stitching etc.
Section-154-Payment of export realizations
Section-154(1) & 154(2)-Export of goods & foreign indenting commission
Section-154(3)-Sale of goods to an exporter under an inland back-to-back letter of credit
Section-154(3A)-Exports of goods by industrial undertakings in Export Zones
Section-154(3B)-Sale of goods by an indirect exporter
Section-154(3C)-Other exports
Section-155- Income from Property
Section-156-Payment of prizes or winnings
Section-156A-Payment of commission / discount on petroleum products
Section-156B-Payment of withdrawal from Pension Fund
Section-153- Payment of goods, service and contract
Section-147- Advance income tax
Section-231A- Advance tax on cash with drawl
Section-231AA and 236P Advance tax on certain banking transaction
Section-231B Advance tax at the time of registration of private motor vehicle
Section-233-Payment of brokerage or commission
Section-233A-Commission of members with stock exchanges
Section-233AA-Margin financing in share business
Section-234-Receipt of motor vehicle tax (token tax)
Section-234A-Receipt of natural gas consumption bills
Section-235A Tax collection from domestic electric bills
Section-236 Tax collection from telephone users
Section-236A-Receipt of proceeds of auction
Section-236B Advance tax on purchase of domestic air ticket
Section-236C-Sale of transfer of immovable property
Section-236D advance tax on function and gathering
Section-236F Advance tax on cable operator and other electronic media
Section-236G Advance tax on sale to distributor, dealer and wholesalers
Section-236H Advance tax on sale to retailers
Section-236I Advance tax by educational institutions
Section-236J-Commissions agents and arhatis - Withholding agents obligations:
Section-236U Advance tax on insurance premium
Section-236X Advance tax on Tbacco
Section-236Y Advance tax on remittance abroad through credit, debit or prepaid cards
Fine and penalties
Section-177 Audit
Treatment of provision for bad and doubtful debts
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