Exemptions other than Covered in Respective Chapters Chapter- 20
TOPIC COVERED
Section 41 to 55 Exemptions & tax concessions
Part I (2nd Schedule) Exemptions from total income
Part II (2nd Schedule) Reduction in tax rates
Part III (2nd Schedule) Reduction in tax liability
Part IV (2nd Schedule) Exemption from specific provisionsEXEMPTIONS & TAX CONCESSIONS (OTHER THAN SPECIFIED IN RESPECTIV CHAPTERS)
UNDER VARIOUS SECTIONS OF INCOME TAX ORDINANCE, 2001
SECTION PARTICULARS
48 Support payments under an agreement to live apart
49 Federal Government, Provincial Government and Local Government income
50 Foreign-source income of short-term resident individuals
51 Foreign-source income of returning expatriates
53 Exemptions and tax concessions in the Second Schedule
54 Exemptions and tax provisions in other laws
55 Limitation of exemptionEXEMPTIONS (OTHER THAN SPECIFIED IN RESPECTIV CHAPTERS)
FROM TOTAL INCOME [PART I OF 2ND SCHEDULE]
CLAUSE PARTICULARS
57 NIT, ICP, Mutual Funds, collective investment schemes, REIT, Venture Capital, Provident,
Gratuity and Superannuation Funds, Benevolent Funds, group insurance schemes, service
funds, EOBI, certain Army institutes and funds, pension fund, Voluntary pension balance.
Sh. Sultan Trust and Sindh Province pension fund
61 Donations to certain institutions and funds
64A Donations to victims of Terrorism
64B Punjab Relief Fund for internally Displaced Persons (IDPs) of NWFP
64C Flood Relief Fund for victims of flood 2010
65 Donations to research on Islamic history, art and culture, Istanbul
9 9A Profits and gains accruing to a person on the sale of immoveable property
102A Govt. Subsidy
103A Inter-corporate dividend
103D Dividend income and long term capital gains of any venture capital fund from investments in
zone enterprises
104 Dividend from Pak Libya HoldingEXEMPTIONS OTHER THAN COVERED
IN RESPECTIVE CHAPTERS
20
Chapter