S.R.O. 1271(I)/99.--

The following draft of certain further amendments in the Income Tax Rules, 1982, proposed to be made in exercise of the powers conferred by sub-section (1) of section 165 of the Income Tax Ordinance, 1979 (XXXI of 1979), is hereby published, as required by sub-section (4) of the said section, 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.

Any objection or suggestion which may be received from any person in respect of the said draft before the expiry of the aforesaid period shall be considered by the Central Board of Revenue.

DRAFT AMENDMENTS

In the aforesaid Rules,-

(i)     After rule 32, the following new rule shall be added, namely :-

"32A. Books of accounts and documents to be maintained by persons deriving income from business or profession.-- Every person deriving income from business or profession, not being a person referred to in rule 27, if his total sales, turnover or gross receipts during the year exceed or exceeds Rs. 2.5 million, or, if his income during the year exceeds Rs. 200,000, shall keep and maintain such books of accounts and other documents as Deputy Commissioner may require to enable him to compute his total income in accordance with the provisions of this ordinance."; and

(ii)     in rule 33, after the figure "31", the word, figure and letter " and 32A" shall be inserted.

ASAD ARIF                         

Additional Secretary/Member (Direct Taxes),