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Sections 233 (3), 115 (4), First Schedule, Part IV, Division II, First Schedule, Part II, Division IV, Second Schedule, Part II Total (5) and Seventh Schedule, Part II Brokerage and Commission Indenting Commission The tax statement under section 115 (4) of the Income Tax Ordinance 2001 was filed giving rise to the claim for refund that in accordance with (5) the tax on the indenting commission obtained on the export of cotton yarn. Receivable rate was 1%. Part II of the Seventh Schedule as well as Part II of the Second Schedule read with Part IV of the First Schedule of the Income Tax Ordinance, the Assessing Officer read the tax rate with 5% in terms of Section 233. Income Tax Ordinance, read with IV, 2001, as per Income Tax Ordinance, 2001, does not require any refund of return as per Income Tax Ordinance, Part II of Schedule II of Income Tax Ordinance, 2001 The validity clause (5) has been provided. In connection with the commission received by an export indenting agent, the export of goods is at the rate equal to the rate of tax on the exporter at which the assessee in relation to such commissions receives the indenting commission on the export of cotton yarn, whose earlier schedule. The cumulative reading of Part III of Part III and the Seventh Schedule to the Part III Income Tax Ordinance, 2001 made it clear that the tax deduction rate for export of cotton yarn was 1% at that time. Taxes were deducted from the receipt of the commission indenting the rate. While 1% was allowed to appeal the deduction from 5% deducted tax and the Assessing Officer was instructed to pay higher tax deduction.
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