Exemptions other than Covered in Respective Chapters Chapter- 20
Limited and Gwadar Free Zone Company Limited for a period of twenty three years, with effect
from the sixth day of February, 2007.
(xxvii) companies, qualifying for exemption under clause (126M) of Part-I of this Schedule, in respect
of profits and gains derived from a transmission line project.
(xxviii) Third Pakistan International Sukuk Company Limited.
(xvi) omitted
(xxx) taxpayers qualifying for exemption under clause (126) of Part-I of this Schedule with effect from
the tax year 2014.]
(xxxi) National Disaster Risk Management Fund.
(xxxii) Deposit Protection Corporation established under sub-section (1) of section 3 of the Deposit
Protection Corporation Act, 2016.
(xxxiii) SARMAYA-E-PAKISTAN LIMITED.
(xxxiv) Green field industrial undertaking qualifying for exemption under clause (126O) of Part I of the
Second Schedule:
(xxxv) The Prime Minister’s COVID-19 Pandemic Relief Fund-2020;
(xxxvi) the Federal Government Employees Housing Authority for the tax year 2020 and the following
four tax years.”.
(xxxvii) Hajj Group Operators' in respect of turnover relating to Haij operations for the tax year 202t:
(xxxviii) A resident company engaged in hotel business in Pakistan in respect of turnover for the
period starting on the first day of April. 2020 & ending on the thirtieth day of September, 2020.
[(xxxix) Islamic Naya Pakistan Certificates Company Limited (INPCCL);
(xl) receipts from sale of electricity produced from a bagasse and biomass based cogeneration
power project qualifying for exemption under clause (132C) of Part-I of this Schedule;
(xli) National Power Parks Management Company (Private) Limited or demerged entities of National
Power Parks Management Company (Private) Limited commencing from the commercial
operation dates and continuing after the date of change of ownership as a result of privatization
by the Privatization Commission of Pakistan.
(xlii) Persons qualifying for exemption under clause (126E) of Part I of this Schedule for tax year
2021 and onwards;
(xliii) Persons qualifying for exemption under clause (126EA) of Part I of this Schedule;
(xliv) Persons mentioned in Table I of clause (66) of Part I of Second Schedule.
(xlv) Mobile phone manufacturers engaged in the local manufacturing of mobile phone devices.- Non applicability of section 150 on inter-corporate dividends [U/C 11B]
The provisions of section 150 shall not apply in respect of inter corporate dividend within the group
companies entitled to group taxation under section 59AA subject to the condition that the return of the
group has been filed for the latest completed tax year.- Non applicability of section 151 on inter-corporate Profit on debt [U/C 11C]
The provisions of section 151 shall not apply in respect of inter corporate profit on debt within the
group companies entitled to group taxation under section 59AA subject to the condition that the return
of the group has been filed for the latest completed tax year.- LNG Terminal Operators [U/C 11D]
The provisions of section 113C shall not apply to LNG Terminal Operators and LNG Terminal
Owners.- Agricultural Products [U/C 12]