INSUBCONTINENT EXCLUSIVE:
ISLAMABAD: The federal government has much revised rates or limits for tax on cash withdrawal from bank accounts under section 231A and on
issuance of cash deappointd bank instruments such as pay orders and demand drafts under section 231AA of Income Tax Ordinance 2001.Federal
Board of Revenue (FBR) spokesperson has strongly refuted such news seeming on measure sections of media.In a statement issued by FBR, there
has been no change in cash limits or tax rates in any of the two provisions of law
The only change which has been made through Finance 2nd Supplementary Act 2019 is taking out the tax filers from the scope of both these
Now these withholding provisions are relevant only to non-filers, the spokesperson has further clarified.The spokesperson added that this
huge concessionary step has been taken by the Government to encourage commercial activity through banking channels which needs to be
appreciated.TheIndianSubcontinent has not verified the content of the source
This first appeared/also appeared in
https://feedproxy.google.com/~r/com/YEor/~3/COkGg5VYQQc/450043-fact-check-government-has-not-revised-rates-or-limits-for-tax-on-cash-withdra
