Ref.No. PHMA Cir-045/2022 Dated: 15th September 2022
Through e-mail
PAKISTAN
HOSIERY MANUFACTURERS & EXPORTERS ASSOCIATION
PHMA House, 37-H,
Block-6, P.E.C.H.S, Karachi. Tel: 0092-21-34522769, 34522685, 34544765
Fax: 0092-21-34543774, E-mail: info@phmaonline.com
Ref. No.
PHMA/Cir-045/2022
Dated: 15th September, 2022
To: All Members of the Association
(Southern Zone & Northern Zone)
Filling of Income Tax return for Small and Medium Enterprises
PHMA advises its
Member Exporters in their own interest whose Turnover in a Financial Year is
less than 250 million to file their Income Tax Returns for FY 2021-22 under ?Special
provisions relating to Small and Medium Enterprises" Section-100E of
Income Tax Ordinance with rules defined under Fourteenth Schedule after
consultation with their Tax consultants to avail benefit of 0.25% and 0.50% of
Withholding Tax on their Gross Turnover.
Please note that Tab
for filing of Income Tax Returns for Small and Medium Enterprises is already
available on IRIS.
Last Date of
Filing of Income Tax Returns of FY 2021-22:- 30-09-2022
Fourteenth Schedule is attached for your reference.
100E. Special provisions relating to small and medium enterprises.?
(1) For tax year 2021 and onwards, the tax payable by a small and medium enterprise as defined in clause (59A) of section 2 shall be computed and paid in accordance with rules made under the Fourteenth Schedule.
(2) The Board may prescribe a simplified return for a small and medium enterprise.
PHMA