ISLAMABAD, Nov 22: The Central Board of Revenue (CBR) has issued a brochure explaining the method and the formula of deduction of tax at source.

Member, tax facilitation and education, Habib Fakhruddin said on Saturday that an attempt had been made to identify the withholding agents; persons from whom tax is to be deducted or collected; applicable rates of withholding tax; basis of withholding tax and time of deduction.

It also explains when the deducted or the collected tax is to be deposited in the account of the federal government; frequency and time of submitting the statements of tax deducted or collected; applicable exemptions and reduced rates and liabilities of the withholding agents and consequences of non- compliance.

A summary and a cross-index of different categories of tax withholding agents and applicable provisions of law are annexed for quick and easy reference, he added.