Home / Knowledge / News / Textiles / Ginners ought to abide by FBR rules – PCGA
Ginners ought to abide by FBR rules – PCGA
26
Jul '11
As withholding agents, ginners need to strictly follow the Federal Board of Revenue's (FBR) rules and regulations, Pakistan Cotton Ginners' Association (PCGA) has said.

PCGA said that the ginners are under an obligation to charge 10 percent withholding tax from supplier or intermediary and pay the same to national treasury.

However, farmers or landlords would not be subjected to such tax deduction, if they furnish a valid certificate of revenue department.

PCGA has stated that all payments in excess of Rs. 50,000 should be made through cross cheque and as mandated by law, the ginners should keep the computerised National Identity Card Number and national tax number of the supplier in their custody.

PCGA said that the ginners need not violate any of the FBR rules and regulations and they may get in touch with the PCGA help desk or its tax advisors, in case if any complications arise.

It further stated that Section 153 of the Income Tax Ordinance has been amended to allow the ginners to make payment of the withholding tax, rather than deducting the same from payments by withholding agents.

Hence, the ginners would be required to produce proof of tax payment to the withholding agents, while the withholding agents would still have to file necessary withholding tax statements, inter-alia based on the challans furnished by the ginners.

In case of lack of evidence of payment, the withholding agents need to deduct tax, as mandated by law, the PCGA said.

Fibre2fashion News Desk - India


Must ReadView All

Apparel/Garments | On 23rd Sep 2017

AAFA urges negotiators to preserve TPLs in NAFTA

The American Apparel & Footwear Association (AAFA), an alliance of...

Textiles | On 23rd Sep 2017

SIMA urges Centre to re-look duty drawback rates

he Southern India Mills’ Association (SIMA) has appealed to the...

Textiles | On 23rd Sep 2017

PKR 690.65-mn budget for Pakistan Cotton Committee

The Pakistan Central Cotton Committee (PCCC) recently approved a PKR...

Interviews View All

Victor Chao
Esmetex

‘In future, clothing boundary lines will become increasingly blurred.’

Sonia Agarwal
Whitenife

‘The terms eco-friendly and organic are common but everyone perceives them ...

DK Sharma
Velocity Apparelz

We constantly communicate with employees at all levels

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

September 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
74.5%
No
12.8%
Skip
12.8%

Total Votes: 47

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.7%
No
25.5%
Skip
12.8%

Total Votes: 47

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.2%
No
6.4%
Skip
6.4%

Total Votes: 47

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
70.2%
No
10.6%
Skip
19.1%

Total Votes: 47


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search