Government of Pakistan has imposed 15% Flood Surcharge Tax on Employees Salaries of all government, semi Government & Private departments w.e.f March 16, 2011.
PROCEDURE FOR PAYMENT OF 15% SURCHARGE ON PAYABLE INCOME TAX
a. Caption 15% Surcharge on payable income tax
b. Payment Section 4A
c. Pay Section Code 89 (for Departmental use only)
1. SELF PAYMENT
Where a taxpayer wants to pay his self payment such as advance tax
payment u/s 147, he will prepare two separate payment slips, i.e, one for
Actual Tax Payment and second for the 15% Surcharge on Income Tax
Paid. Hence two separate CPRs will be generated in such cases by the
SBP and NBP.
2. WITHHOLDING TAX PAYMENTS
Where the tax is withheld by a withholding agent and the withholding is
agent is depositing the tax, he will make two entries for each taxpayer in
the same payment slip as follows:
3. APPLICATION OF 15% Surcharge on payable income tax
a) Salaried Persons – Deduction u/s 149
The employers will deduct the 15% surcharge on the income tax payable
on portion of the salary pertaining to the period starting from 15th March
2011 to 30th June 2011.
b) Other Withholding Tax
All withholding agents will deduct 15% surcharge on the income tax
payable on payments from 15th March 2011 to 30th June 2011.
c) Advance Tax Payment u/s 147
The tax u/s 147 due from 15th March 2011 to 30th June 2011.
4. Time of Payment of 15% Surcharge on payable income tax
15% surcharge on payable income tax must be deposited at the time of
deposit of the tax.