SRO 921/2003 Draft Amenedment in Income tax Rules,2002 Relating to Non Profit Organizations

Government of Pakistan Revenue Division Central Board of Revenue . . * Islamabad, September 25, 2003 N o t i f i c a t i o n (Income Tax) S. R. O. 931(I)/2003.- The following draft amendments in the Income Tax Rules, 2002, proposed to be made in exercise of the powers conferred by section 237 of the Income Tax Ordinance, 2001 (XLIV of 2001), is hereby published, for the information of all persons likely to be affected thereby, and notice is hereby given that the draft will be taken into consideration after fifteen days of its publication in the official Gazette. 2. Any objection or suggestion which may be received from any person, in respect of the said draft amendments before the expiry of the aforesaid period, shall be considered by the Central Board of Revenue. Draft Amendments In the aforesaid Rules, -- (1) In rule 211, sub-rule (2) after clause (g) full stop shall be substituted with a semi-colon and following provisos shall be inserted namely:- “Provided that till the approval of two such agencies, the applicant organization shall have an option to get its performance appraised by CBR; Provided further that CBR or its officers, shall apply the same parameters on applicant organizations for the purpose of aforesaid evaluation as are approved by the CBR to be applied by the certification agency.” (2) In rule 214, after sub-rule (2) full stop shall be substituted with a semi-colon and following proviso shall be inserted, namely:- “Provided that notwithstanding anything contained herein, for the purposes of this rule, clause (g) of sub-rule (2) of rule 211 shall take effect from July 1, 2004.” (3) In rule 219, the words and figures “calendar year 2002 within the time specified before June 2003” shall be substituted by the words and figures “and upto calendar year 2003 by the 30th day of June 2004”. (4) In rule 220A, sub-rule (1), clause (b) after sub-clause (vi), the words “by an authority designated by the Government of Pakistan for this purpose or till that authority is established, under arrangements made by the Central Board of Revenue” shall be substituted by the words “and appointed by the Central Board of Revenue:” and thereafter following provisos shall be inserted:- “Provided that the CBR shall also receive applications for performance appraisal and certification of applicant organizations till at least two such agencies have been appointed: Provided further that CBR or its officers shall apply the same parameters on applicant organizations for the purpose of aforesaid evaluation as are approved by the CBR to be applied by the certification agency.” (5) In rule 220A, in sub rule (10), the words and figures “2002 by the 30th June, 2003” shall be substituted by the words and figures “2003 by the 30th June, 2004”. [C. No. 4(2)IT-Jud/02-Pt] Vakil Ahmad Khan Member (Direct Taxes)/ Additional Secretary