Income From Business Chapter- 09
Provided further the exemption under this clause shall not apply to oil fired power plants setup
between 22nd October, 2002 and 30th June, 2006 but shall apply to Dual Fuel (Oil/Gas) power
projects set up on or after the first September, 2005:
Provided further that the exemption under this clause shall be available to companies registered in
Pakistan or Azad Jammu and Kashmir owning and managing Hydel Power Projects, set up in Azad
Jammu and Kashmir or Pakistan:Provided further that exemption under this clause shall also be available to the expansion projects of
the existing Independent Power Projects already in operation―:
Provided also that conditions laid down in sub-clause (b) shall not apply to electric power generation
project formed by the splitting up, or the reconstruction or the reconstitution of an electric power
generation business already in existence and availing exemption under this clause.
Provided further that the exemption under this clause shall be available to persons, who enter into
agreement or to whom letter of intent is issued by the Federal or Provincial Government for setting up
an electric power generation project in Pakistan on or before the 30th day of June, 2021 and who
obtains the letter of support on or before the 30th day of June, 2023.16.24 PROFITS AND GAINS DERIVED BY BOSICOR OIL PAKISTAN LIMITED [U/C 132A]
This clause has been omitted by Finance Act, 2021.16.25 COAL MINING PROJECT IN SINDH [U/C 132B]
This clause has been omitted by Finance Act, 2021.16.26 INCOME FROM EXPORT OF COMPUTER SOFTWARE AND IT SERVICES [U/C 133]
This clause has been omitted by Finance Act, 2021.16.27 INCOME OF A SPECIAL PURPOSE VEHICLE [U/C 136]
This clause has been omitted by Finance Act, 2021.16.28 PROFIT AND GAINS DERIVED BY STARTUP [U/C 143]
This clause has been omitted by Finance Act, 2021.16.29 ANY INCOME OF AN INDIVIDUAL DOMICILED OR A COMPANY & AoP RESIDENT IN TRIBAL
AREAS [U/C (145A) & (146)]
Any income which was not chargeable to tax prior to the commencement of the Constitution (Twenty-
fifth Amendment) Act, 2018 of any individual domiciled or company and association of persons resident
in the Tribal Area forming part of the Provinces of Khyber Pakhtunkhwa and Balochistan under
paragraph (d) of Article 246 of the Constitution with effect from the 1st day of June, 2018 to the 30th
day of June, 2023 (both days inclusive).Clause (146) has been omitted by Finance Act, 2021.16.30 ANY SUM REMITTED TO PAKISTAN THROUGH BANKING CHANNEL [U/C 149]
Any sum —(i) remitted to Pakistan through banking channels in foreign currency received by an international
buying house from its non - resident principal to meet its expenses in Pakistan; and(ii) chargeable under the head “Salary” received by a person who, not being a citizen or resident of
Pakistan, is engaged as an expert by an international buying house.
Explanation. —For the purpose of this clause international buying house means persons acting as
buying offices, buyers’ agents, or representatives of international buyers for facilitating exports from
Pakistan and are registered as liaison offices with Board of Investment or companies registered with
SECP.