| 07 Jun 2018, 00:00 | Update : 07 Jun 2018, 20:45
The income that generate from ride sharing service like Uber and Pathao should be brought under tax net. This was proposed by the Finance Minister. Tax will be imposed at the source of income.
The Finance Minister also proposed for obtaining Tax Identification Number (TIN) and return submission obligatory for the transport owners who provide the service.
As a result the vehicle and motorcycle owners who provide ride sharing under Uber, Pathao, Sohoz, Ovai and others have to be listed under tax net.
But there is a chance for tax adjustment if their incomes do not cross the tax free limit while submitting return. Although it is feared that if the tax is imposed at source then it will be collected from the service users at any way.
The number of registered transport in this sector is over one lakh. Due to the proposal of Finance Minister they have to be registered under tax net for compulsory.