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SHC judgment on salaried individuals’ tax rates suspended

SHC judgment on salaried individuals’ tax rates suspended

ISLAMABAD: FBR has asked salaried individuals who have paid less tax in view of the judgment of the Sindh High Court (SHC), should calculate the short paid tax and deposit the balance amount by November 30 to avoid default surcharges.

FBR stated that the Supreme Court suspended the judgment of the SHC regarding the rates of tax. FBR had filed an appeal before the apex court against the judgment.

“As per suspension of Sindh High Court decision, now the rates of tax as already provided in clause (1A) of Division 1 of Part 1 of the First Schedule to the Income Tax Ordinance 2001 will apply to all salaried individuals,” the statement said.

The Sindh Court on October 25 had declared tax rates prescribed for salaried individuals in the Finance Act 2012 as illegal.