GUJRANWALA, July 1: The 0.2 per cent withholding tax on more than Rs25,000 cash withdrawals cannot be done away with as standing committees of the National Assembly and Senate have recommended its continuation.
This was stated by member (direct taxes) Suleman Nabi while speaking at Gujranwala Chamber of Commerce and Industry (GCCI) here on Saturday.
He said the withholding tax was in the interest of the nation.
He assured the business community that audit of their accounts would be conducted in case of any disparity in their income tax return and the real tax paid by them and they would not be harassed by inspectors.
Suleman Nabi said the number of taxpayers had increased to 1.4 million from one million following implementation of universal self-assessment scheme by the government during the last three years.
He said the CBR had crossed the target of recovery from Rs690 billion to Rs704 billion in fiscal year 2005-06.
He said the National Bank of Pakistan was also providing facility of scrutiny of tax refund to the business community.
Earlier, chamber president Akhlaq Ahmad Butt and others apprised him of their problems.
SECTION 144: District Nazim Fiaz Ahmad Chattha on Saturday imposed a ban on holding of processions by any political, religious and other organisations except religious functions and Majalis under Section 144 of the Cr.PC. The section would remain enforced for one month.
BULLDOZERS: Over 200 bulldozers of the agriculture department (field wing) have outlived their usefulness while the remaining 353, already completed their normal life, are being used after repair.
This was pointed out by agriculture department director-general Dr Rafiquzzaman while speaking at a briefing here on Saturday.
He revealed that the field wing had purchased 553 bulldozers in 1987 for levelling uncultivated and barren lands for farmers.
Speaking on the occasion, provincial Agricultural Minister Arshad Khan Lodhi said that about four million acres of land were lying uncultivated and barren in the province while the government planned to buy 150 new bulldozers within three years.
The minister said the government had given approval for buying 25 new bulldozers this year. He, however, confessed that these bulldozers were insufficient for farmers of 35 Punjab districts.