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PAKISTAN HOSIERY MANUFACTURERS & EXPORTERS ASSOCIATION
PHMA House, 37-H, Block-6, P.E.C.H.S, Karachi. Tel: 0092-21-34522769, 34522685, 34544765
Fax: 0092-21-34543774, E-mail: info@phmaonline.com   

Ref. No. PHMA/Cir-045/2022
Dated: 15^th September, 2022

To: All Members of the Association (Southern Zone & Northern Zone)

Filling of Income Tax return for Small and Medium Enterprises

PHMA advises its Member Exporters in their own interest whose Turnover in a Financial Year is less than 250 million to file their Income Tax Returns for FY 2021-22 under ?Special provisions relating to Small and Medium Enterprises" Section-100E of Income Tax Ordinance with rules defined under Fourteenth Schedule after consultation with their Tax consultants to avail benefit of 0.25% and 0.50% of Withholding Tax on their Gross Turnover.

Please note that Tab for filing of Income Tax Returns for Small and Medium Enterprises is already available on IRIS.

Last Date of Filing of Income Tax Returns of FY 2021-22:- 30-09-2022

Fourteenth Schedule is attached for your reference.

100E. Special provisions relating to small and medium enterprises.? 

(1) For tax year 2021 and onwards, the tax payable by a small and medium enterprise as defined in clause (59A) of section 2 shall be computed and paid in accordance with rules made under the Fourteenth Schedule. 

(2) The Board may prescribe a simplified return for a small and medium enterprise.

PHMA