Tax deduction: FBR modifies process of obtaining exemption

In order to facilitate taxpayers and be part of ease of doing business, the Federal Board of Revenue (FBR) has modified the process of obtaining exemption from deduction of tax under section 153 of the Income Tax Ordinance, 2001. According to the FBR's instructions issued to the field formations here on Friday, the taxpayer would now apply for exemption under the respective section of the Income Tax Ordinance, 2001 and the order issued by the commissioner will be applicable to all the concerned withholding agents. Consequently, the taxpayer will not be required to apply for parties' addition, time and again.
For the convenience of taxpayers and withholding agents, a statement to this effect has been made a part of the exemption order, which will also be visible on any print taken now of an order for generic exemption issued earlier, the FBR added.