FINANCE ACT 2020

   
  Prime Minister's package for construction sector
   
Income Tax Important Points
  100% extra tax to person not appearing in ATL
Amendment of Ordinance, XLIX of 2001
  First Schedule
  Second Schedule
  Seventh Schedule
  Tenth Schedule
  Eleventh Schedule
  Twelfth Schedule
  Amendment in Finance Act 1989
   
Sales Tax Important Points
  Amendment of Sales Tax Act, 1990
  Fifth Schedule
  Sixth Schedule
  Eight Schedule
  Ninth Schedule
  Tenth Schedule
  Eleventh Schedule
  Twelefth Schedule
  Sales Tax SRO's dated
  Amendment in Sales Tax Rules 2006
   
Excise Duty Amendments of The Federal Excise Act, 2005
  First Schedule
   
Customs Important Points
  Amendments of Act IV of 1969.- In the Customs Act, 1969 (IV of 1969)
  Fifth Schedule
  First Schedule
  Customs SRO's dated 30-06-2020
   
Others Amendment in Anti-Dumping Duties Act 2015
  Amendment in Public Finance Management Act, 2019
  Amendments of the Petroleum Products Surcharge Ordinance, 1961
   
Repeal The Tax Laws (Amendment) Ordinance, 2020 (1 of 2020) is hereby repealed.
 
Sindh Budget No Finance bill in Tax Year 2020-21
 

Amendment in Notification 3-4/8/2013 - section 8 reduce rate of tax

9805.6000

Recruiting agents

 8%

Applicable from Financial Year 2018-19, 2019-20 and 2020-21 till 30th June 2021, subject to procedure and condition as per notification SRB/3-4/12/2020 dated 22nd June 2020.

 

Amendments in Notification SRB-3-4/7/2013 - section 10 exemption

9813.1500

Life insurance
The exemption on life insurance are withdrawn, however, premiums in relation to personal / individual life insurance of upto Rs. 5lac –exempted from 01st July, 2018 to 30th June 2021.

13%

9813.1600

Health insurance
The exemption on Health insurance are withdrawn, however, premiums in relation to personal / individual Health insurance of upto Rs .5lac – exempted from 01st July, 2018 to 30th June 2021.

13%

9819.9000

Cable TV Operators – stand-alone service provider
exemption is restricted to procedure, explanation and conditions define under notification SRB-3-4/15/2019 dated 27th June 2019 and exemption restricted to with effect from 1st July 2018 to 30th June, 2021.

13%