23-07-2014 09:32 AM | Pakistan

Draft agriculture income tax law ready

A draft law to bring reforms in existing agriculture income tax collection and related laws has suggested seven tax slabs for the assessment of farm income between Rs400,000 and Rs6 million or above as well as a fixed tax on holding minimum 16 acres of cultivated land, it emerged on Tuesday.

The draft Sindh Agricul­tural Income Tax Bill, 2014 — likely to be tabled in the Sindh Assembly in its upcom­ing session — was prepared by a committee head­ed by its convener Abdul Majeed Nizamani, the president of the Sindh Abad­gar Board, with representatives of the Sindh cham­ber of agriculture and other tax and agriculture economy experts as its members.
Full Story : DAWN.com