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Summary Withholding tax on mobile phone industry has been increased by 15pc after imposition of flood tax.
Now, Rs 36 will be cut on the purchase of Rs 100 card. The tax would be applied from March 16.According to sources of Telecom industry, under Income Tax Amendment Ordinance 2011, withholding tax imposed on mobile phone companies will be increased from 10 percent to 11.50 percent.Due to imposition of flood tax, 15 percent of the 10 percent tax, which is 1.5 percent, will be received.
