03-27-2010, 07:02 PM
Dear Awais,
Sorry i meant u/s 148.
The scenario is such that i am a commercial importer and pay advance income tax at import stage u/s 148, hence when i supply i give an undertaking that my 3.5% tax u/s 153 should not be deducted as paid u/s 148. Now i have come to know that i can only give an undertaking when i have supplied with 12% profit or less; otherwise i cannot supply.
I need clarification for this.
Sorry i meant u/s 148.
The scenario is such that i am a commercial importer and pay advance income tax at import stage u/s 148, hence when i supply i give an undertaking that my 3.5% tax u/s 153 should not be deducted as paid u/s 148. Now i have come to know that i can only give an undertaking when i have supplied with 12% profit or less; otherwise i cannot supply.
I need clarification for this.
