Notice to ETF Board, Provident Funds and Employers who have retained the Tax on Terminal Benefits to Retiring Employees.
Any amount retained by the Employees’ Trust Fund (ETF) Board, any Provident Fund or Employer (hereinafter referred to as the “Retainers”) as per the Guideline published by Circular No. SEC/2020/02 of the Commissioner General of Inland Revenue, dated 18.02.2020 as Income Tax on terminal benefits due for the retiring employees, for which such employees were required to produce a Direction from the Inland Revenue Department within 90 days from the date of such retention of Tax, and if that 90 days period expires on or after May 11, 2021, such 90 days period for retention of Tax deducted by the Retainers is extended till June 30, 2021, considering the COVID-19 pandemic situation prevailing in the country.
Download IRD Notice No.: PN/APIT/2021-01 | Dated: 01.06.2021
