Ehsaas Emergency Cash Transfer Programme: IT exempted on commission by banking agent

The Federal Board of Revenue (FBR) has announced income tax exemption on commission received by a retail branchless banking agent on any amount disbursed by the Ehsaas Emergency Cash Transfer Programme from April 16, 2020 to June 30, 2020.

The FBR has amended Second Schedule of the Income Tax Ordinance 2001 through an SRO 315(1)/2020 issued here on Thursday.

According to the notification, the provisions of Section 233 shall not apply to commission received by a retail branchless banking agent on any amount disbursed by the Ehsaas Emergency Cash Transfer Programme for the period commencing on the date of issuance of this notification and ending on June 30, 2020.