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Tax Notification for Transworld Home Customers
Dear Customers,
An amendment has been made through Finance Act 2024 about advance income tax collection on internet services u/s 236(1)(d) of the Income Tax Ordinance, 2001 (Ordinance).
Through the Finance Act, 2024, a proviso has been added in Division V of Part IV of the First Schedule to the Ordinance, which is reproduced below for reference:
“Provided that in the case of persons mentioned in income tax general order issued under section 114B, the rate of collection of tax shall be 75% of the amount of bill or sale price of internet pre-paid card or prepaid telephone card or sale of units to any electronic medium or whatever form”
Based on the above, we are liable to charge and collect 75% advance income tax u/s 236 on internet charges every month against persons appearing in Income Tax General Order No. 01 of 2024. (https://download1.fbr.gov.pk/Docs/20244301945430648FinalITGO.pdf)
This change in advance income tax will be effective July 1st, 2024, and will be reflected in your current month’s invoice.
Please note that the customers appearing in Active Taxpayers List will be charged a 15% advance income tax.
For any further information contact us at 1837.