Tax Book 2023

Constitutional Provisions Chapter- 03

Under Article of

Constitution

TOPICS COVERED

78 to 88 Federal Financial Procedures

118 to 127 Provincial Financial Procedures

161 to 165A Distribution of Revenues between Federation and Provinces

Federal Legislative List

(FOR CAF-^6 ,^ MODULE F^ & ICMAP STUDENTS)^

1. FEDERAL FINANCIAL PROCEDURES

1.1 Introduction

Constitution of Pakistan is prime source for all legislations in Pakistan. It distributes powers

among Federation and Provinces. It provides procedures for levy and collection of taxes along-

with procedures for use and exploitations of funds received from taxes or by the Federation

from any other source. This chapter has been divided into the following three main areas:

 Federal Financial Procedures

 Provincial Financial Procedures

 Distribution of Revenues between Federation & Provinces

The detailed explanation of the above areas is as under.

1.2 Federal consolidated fund and public account [Under Article 78]

All revenues received by the Federal Government, all loans raised by that Government and all

moneys received by it in repayment of any loan, shall form part of a consolidated fund, to be

known as the Federal Consolidated Fund.

All other moneys:

 received by or on behalf of the Federal Government; or

 received by or deposited with the Supreme Court or any other court established under the

authority of the Federation;

Shall be credited to the Public Account of the Federation.

1.3 Custody , etc., of federal consolidated fund and public account [Under Article 79]

The custody of the Federal Consolidated Fund, the payment or moneys into that Fund, the

withdrawal of moneys there from, the custody of other moneys received by or on behalf of the

Federal Government, their payment into, and withdrawal from, the Public Account of the

Federation, and all matters connected with or ancillary to the matters aforesaid shall be

regulated by Act of Majlis-e-Shoora (Parliament) or, until provision in that behalf is so made, by

rules made by the President.

CONSTITUTIONAL PROVISIONS

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Chapter