Karachi: Members are hereby informed that Federal Board of Revenue (FBR) has Issued Tax Exemption Certificate (copy enclosed) to KSE. In this respect, members are requested not to deduct tax on payments made to KSE against acquiring of services subject to tax deductions at source under sub section (1) of section 153 of the Income Tax Ordinance, 2001 up to June 30, 2012.
Members are requested to note the same.
Exemption Certificate # 102 U/S 153 (4) of the Income Tax Ordinance, 2001
In exercise of powers conferred by sub-section (4) of Section 153 of the Income Tax Ordinance, 2001 read with clause (xvii) of SRO 586 (i) / 91 dated 30-06-1991, it is hereby directly that no deduction of tax shall be made under clause (b) of sub-section (1) to the Section 153 of the Income Tax Ordinance, 2001 in the case of M/S. The Karachi Stock Exchange (Guarantee) Limited, Karachi holding National Tax Number 34-01-0710853-2 from payments representing to services rendered by it.
It is however, directed that tax already deducted under sub-section (1) of Section 153 of the Income Tax Ordinance, 2001 shall not be refunded to the taxpayer but shall be deposited into government treasury.
This exemption certificate is valid up to 30.06.2012
For more information, contact:
Karachi Stock Exchange
Tel: (92-21) 111-001122
Fax: (92-21) 3241 0825, (92-21) 3241 5136