ITBA seeks clarification, amendments in IT Ordinance

KARACHI: The Income Tax Bar Association (ITBA) has sought clarification from the Federal Board of Revenue (FBR) on various issues related to The Income Tax Ordinance 2001. In a communication to Member (Direct Taxes) FBR, the president of the Bar Abdul Qadir Memon has mentioned that tax related issues needed immediate clarification to facilitate taxpayers. Similarly, some of the clauses needed amendments to remove anomalies, he said. He said that ITBA has sent synopsis of issues to FBR which are confronting tax payers and needed clarification and amendments. He pointed out that an amendment is needed in sub section (6) of Section 101 (Geographical source of income) and 150 (Dividend) of the Ordinance.