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FOOT SECOND SCHEDULE
The Second Schedule substituted by Finance Ordinance, 1981. Before substitution it was amended by Finance Ordinance, 1980 and by various notifications u/s 14.
2
Substituted for "EXCLUSIONS" by Finance Act, 1988.
3
Substituted for full stop by Finance Act, 1988.
FROM [Provided that, in case . . . . . . . . . . . . . . . . from
business or profession']
4Provisos inserted by Finance Act, 1988 w.e.f. July 1, 1988 for the
purposes of assessment of incomes and determination of tax thereon in respect of the
assessment year commencing on or after July 1, 1988. Before the passing of the Finance
Act, 1988 (in December, 1988), the first of these provisos was inserted by Finance
Ordinance, 1988 (in June, 1988) and the second proviso was then inserted by Notification
No. SRO 766(I)/88 dated September 7, 1988. The Finance Ordinance, 1988 was repealed but
the said Notification issued u/s 14 has not so far been repealed although the amendment
has been incorporated vide the Finance Act, 1988.
5
Clauses (3), (4) & (5) omitted by Notification No. SRO 447(I)/93 dated May 19, 1993 w.e.f May 30, 1993. Provided that the existing beneficiaries and operative contracts to which the aforesaid clauses or sub-clauses applied shall be entitled to the benefit of exemption from tax until the expiration of the period specified in the said, clauses and sub-clauses.
6
Clause (6) omitted by Finance Act, 1996, w.e.f. assessment year 1996-97.
7
Clause (7) deleted by Notification No. SRO 1136(I)/91 dated November 7, 1991, w.e.f. July 1, 1991. Provided that the existing beneficiaries and operative contracts to which the aforesaid clause apply shall continue to get the benefit of exemption until the period stipulated therein has expired.
8
Clause (7A) deleted by Notification No. SRO 1278(I)/91 dated December 31, 1991. Provided that the existing beneficiaries and operative contracts to which the aforesaid clause apply shall continue to get the benefit of exemption until the period stipulated therein has expired. The clause was inserted by Notification No. SRO 160(I)/84 dated February 14, 1984.
9
Heading and Clause (7B) inserted by Notification No. SRO 896(I)/88 dated October 10, 1988.
10
Clause (7C) substituted by Notification No. SRO 621(I)/94 dated June 23, 1994. Earlier it was inserted by Notification No. SRO 266(I)/94 dated March 30, 1994. The original clause was deleted by Notification No. SRO 1278(I)/91 dated December 31, 1991. Provided that the existing beneficiaries and operative contracts to which the aforesaid clause apply shall continue to get the benefit of exemption until the period stipulated therein has expired. The omitted clause was inserted by Notification No. SRO 63(I)/89, dated January 25, 1989.
l1
Clause (7D) inserted by Notification No. SRO 87(I)/95 dated January 31, 1995.
12
Clause (7E) inserted by Notification No. SRO 433(I)/95 dated May 29, 1995 for the purpose of assessment of income.
13
Clause (8) deleted by Notification No. SRO 1136(I)/91 dated November 7, 1991, w.e.f. July 1, 1991. Provided that the existing beneficiaries and operative contracts to which the aforesaid clause apply shall continue to get the benefit of exemption until the period stipulated therein has expired.
14
Clauses (10) and (11) omitted vide Finance Act, 1996 w.e.f. assessment year 1996-97.
15
Words and comma "not being citizens of Pakistan or persons resident in Pakistan," omitted by Notification No. SRO 755(I)/95 dated July 26, 1995.
16
Clause (12A) inserted by Notification No. SRO 186(I)/92 dated March 14, 1992.
17
Clause (14) deleted by Notification No. SRO 1081(I)/93 dated November 1, 1993. Provided that the existing beneficiaries to which the aforesaid clause apply shall continue to get the benefit of exemption until, the period stipulated therein has expired.
18
Clause (15) deleted by Notification No. SRO 1136(I)/91 dated November 7, 1991, w.e.f. July 1, 1991. Provided that the existing beneficiaries and operative contracts to which the aforesaid clause apply shall continue to get the benefit of exemption until the period stipulated therein has expired.
19
Clause (15A) deleted by Notification No. SRO 1278(I)/91 dated December 31, 1991. Provided that the existing beneficiaries and operative contracts to which the aforesaid clause apply shall continue to get the benefit of exemption until the period stipulated therein has expired. The clause was inserted by Notification No. SRO 420(I)/85, dated May 5, 1985.
20
Colon substituted for full stop by Finance Act, 1991.
Provided that, with effect . . . . . . . . . . . . . . . for any
remuneration or reward.
21Provisos inserted by Finance Act, 1991.
22
Clause (17A) substituted by Finance Act, 1985 w.e.f. assessment year 1985-86. The clause was earlier inserted by Notification No. SRO 183(I)/84, dated February 27, 1984 w.e.f. assessment year 1983-84.
23
Heading and clause (17AA) inserted by Finance Act, 1985 w.e.f. assessment year 1985-86.
24
Clauses (20), (2}) and (21A) deleted by Notification No. SRO 1266(I)/90 dated December 11, 1990, w.e.f. assessment year 1991-92. Clause (21A) was inserted by Notification No. SRO 768(I)/81, dated July 7, 1981.
FROM [, and in respect . . . . . . . . . . . per annum.]
25Inserted by Finance Act, 1986,
26Clause (22A) inserted by Finance Act, 1986.
27
Words etc. inserted by Notification No. SRO 925(I)/93 dated September 25, 1993.
28
Heading and clause (23A) inserted by Notification No. SRO 768(I)/81, dated July 7, 1981.
29
Substituted for "eighty" by Finance Act, 1993.
30
Substituted for "twenty-five thousand" by Finance Act, 1993.
31
Clause (29A) inserted by Notification No. SRO 1001(I)/83, dated October 24, 1983.
32
Clause (33A) inserted by Notification No. SRO 51(I)/86, dated January 9, 1986.
33
Clause (33B) inserted by Notification No. SRO 337(I)/93 dated April 25, 1993.
34
Clauses (34), (35) and (36) deleted by Notification No. SRO 1266(I)/90 dated December 11, 1990 w.e.f. assessment year 1991-92. Clause (35) was earlier substituted by Notification No. SRO 768(I)81, dated July 7, 1981.
35
Clauses (36A) and (36B) deleted by Notification No. SRO 1266(I)/90 dated December 11, 1990 w.e.f. assessment year 1991-92 (the number of clause (36B)inadvertently appears as "(136B)" in the deleting Notification). These clauses were earlier inserted by Notification No. SRO 768(I)/81, dated July 7, 1981.
36
Clauses (36E) and (36D) deleted by Notification No. SRO 1266(I)/90 dated December 11, 1990 w.e.f. assessment year 1991-92. These clauses were inserted by Notification No. SRO 40(I)/83, dated January 11, 1983.
37
Substituted for "50" by Notification No. SRO 919(I)/92 dated September 24, 1992. Earlier it was substituted for "45" by Notification No. SRO 744(I)/83, dated July 16, 1983.
38
Clause (38A) substituted by Finance Act, 1995. Earlier it was inserted by Notification No. SRO 683(I)/93 dated July 19, 1993 w.e.f assessment year 1991-92.
39
Clause (39A) inserted by Notification No. SRO 691(I)/84, dated August 6, 1984. The Notification shall have effect as respects any income year beginning on or after the first day of July, 1984. For apparently intended "(39A)", the clause number appears as "(39)" in the Gazette.
40
Clause (41) inserted by Finance Act, 1997. Earlier it was omitted by Finance Act, 1996, w.e.f. assessment year 1996-97.
41
Clause (41A) omitted by Finance Act, 1996, w.e.f. assessment year 1996-97. Earlier it was inserted by Finance Ordinance, 1982.
42
Clause (42A) inserted by Notification No. SRO 800(I)/91 dated August 5, 1991.
43
Clause (42B) & (42C) inserted by Notification No. SRO 388(I)/94 dated May 9, 1994.
44
Heading and clause (51A) inserted by Finance Ordinance, 1984.
45
Heading and Clauses (54A) and (54B) inserted by Finance Ordinance, 1983.
46
Clause (55A) inserted by Notification No. SRO 341(I)/83, dated April 11, 1983. The Notification shall have effect in respect of any assessment year beginning on or after the first day of July, 1982.
47
Clause (56) substituted by Finance Act, 1993 w.e.f. assessment year 1993-94. It was earlier substituted by Finance Act, 1992 w.e.f. assessment year 1993-94.
48
Sub-clause (1A) inserted by Finance Act, 1994.
49
Inserted by Finance Act, 1997.
50
Clause (57) to (61) omitted by Finance Act, 1992.
51
Clause (62) substituted by Finance Act, 1992 w.e.f. assessment year 1993-94.
52
Words inserted by Finance Act, 1993
53
Substituted for "sub-clause (2)" by Finance Act, 1993.
54
Sub-clause (3) inserted by Finance Act, 1993.
55
Clause (62A) omitted by Finance Act, 1992. Earlier it was inserted by Notification No. SRO 768(I)/81, dated July 7, 1981.
56Clauses (63) and (64) deleted by Finance Act, 1992.
57
Clause (65) omitted by Finance Act, 1996, w.e.f, assessment year 1996-97.
58
Clause (66) deleted by Notification No. SRO 1266(I)/90 dated December 11, 1990, w.e.f. assessment year 1991-92.
59
Clauses (67) and (68) deleted by Notification No. SRO 1136(I)/91 dated November 7, 1191, w.e.f. July 1, 1991. Provided that the existing beneficiaries and operative contracts to which the aforesaid clauses apply shall continue to get the benefit of exemption until the period stipulated therein has expired.
60
Clauses (69), (70) and (71) deleted by Notification No. SRO 1136(I)/91 dated November 7, 1991, w.e.f. July 1, 1991. Provided that the existing beneficiaries and operative contracts to which the aforesaid clauses apply shall continue to get the benefit of exemption until the period stipulated therein has expired.
61
Clause (71A) omitted vide Finance Act, 1996, w.e.f. assessment year 1996-97. Earlier it was inserted by Finance Act, 1988.
62
Substituted for full stop by Notification No. SRO 1135(1)/91 dated November 7, 1991.
63
Proviso inserted by Notification No. SRO 1135(I)/91 dated November 7, 1991.
64
Substituted for full stop by Finance Act, 1995.
65
Proviso inserted by Finance Act, 1995.
66
Substituted for full stop by Notification No. SRO 1135(I)/91 dated November 7, 1991.
67
proviso inserted by Notification No. SRO 1135(I)/91 dated November 7, 1991.
68
Clause (74) omitted by Notification No. SRO 447(I)/93 dated May 19, 1993 w.e.f May 30, 1993. Provided that the existing beneficiaries and operative contracts to which the aforesaid clause applied shall be entitled to the benefit of exemption from tax until the expiration of the period specified therein.
69
Clause (75A) inserted by Notification No. SRO 1014(I)/95 dated October 16, 1995.
70
Clause (76A) inserted by Notification No. SRO 13(I)/95 dated January 4, 1995 in supersession of earlier Notification No. SRO 938(I)/94 dated September 22, 1994.
71
Clause (77) substituted by Notification No. SRO 1196(I)/94 dated December 4, 1994.
72
Clause (77A) inserted by Notification No. SRO 1251(I)/92 dated December 2, 1992.
73
Clause (77B) inserted by Notification No. SRO 938(I)/94 dated September 22, 1994. This notification though expressed as superseded by Notification No SRO 13(I)/95 dated January 4, 1995 but the intention appears to only partially supersede the SRO 938(I)/94. The same clause again inserted by Notification No. SRO 122(I)/95 dated February 19, 1995, which seems to be by mistake.
74
Substituted for full stop by Notification No. SRO 13(I)/95 dated January 4, 1995.
75
Proviso substituted by SRO 92(I)/96, dated 1-2-1996. Earlier it was inserted by Notification No. SRO 13(I)/95 dated January 4, 1995.
76
Clause (78A) inserted by Finance Act, 1985 w.e.f. assessment year 1985-86.
77
Words inserted by Notification No. SRO 198(I)/86, dated February 27, 1986.
78
Comma and words inserted by Finance Act, 1992.
79
Clause (78B) inserted by Notification No. SRO 219(I)/91, dated March 16, 1991.
80
Clause (79A) inserted by Notification No. SRO 796(I)/87, dated October 4, 1987.
81
Colon substituted for full stop by Finance Act, 1991.
82
Proviso inserted by Finance Act, 1991.
83
Clause (79B) inserted by Notification No. SRO 603(I)/89, dated June 6, 1989.
83_1
Para 79C inserted by Notification No. S.R.O. 406 (I)\97. Dated 3-6-1997.
84
Clause (80) inserted by Finance Act, 1997. Earlier it was omitted by Finance Act, 1996, w.e.f. 1996-97. At the time of omission, sub-clauses (d), (e) and Explanation to the clause were in force.
84_1
Para 80A inserted by S.R.O. 703 (I)/97 dated 13-9-1997.
85
Sub-clause (cc) omitted by Finance Act, 1990, earlier it was inserted by Finance Ordinance, 1983.
86
Sub-clause (f) and two proviso after clause (g) omitted by Notification No. SRO 447(I)/93 dated May 30, 1993, w.e.f. May 30, 1993. Provided that the existing beneficiaries and operative contracts to which the aforesaid applied shall be entitled to the benefit of exemption from tax until the expiration of the period specified therein. Earlier it was inserted by Finance Ordinance, 1982 w.e.f. income year relevant to assessment year 1983-84.
87
Sub-clause (g) omitted by Finance Act, 1995. Earlier it was inserted by Finance Act, 1992.
88
Clauses (81) and (82) deleted by Notification No. SRO 103(I)/92 dated February 15, 1992 w.e.f. assessment 1992-93.
89
Clause (82A) omitted by Notification No. SRO 447(I)/93 dated May 19, 1993 w.e.f May 30, 1993. Provided that the existing beneficiaries and operative contracts to which the aforesaid clauses or sub-clauses applied shall be entitled to the benefit of exemption from tax until the expiration of the period specified in the said clause. Earlier it was inserted by Notification No. SRO. 458(I)/90 dated May 20, 1990.
90
Clause (83) omitted vide Finance Act, 1996, w.e.f. assessment year 1996-97.
91
Clause (84) omitted vide Finance Act, 1996, w.e.f. assessment year 1996-97. Earlier it was substituted by Finance Act, 1992 w.e.f. assessment year 1993-94.
92
Clause (85) omitted by Finance Act, 1996 w.e.f. assessment year 1996-97.
93
Heading and clause (85A) inserted by Finance Act, 1986.
94
Clause (86A) inserted by Finance Act, 1991.
95
Clause (86B) inserted by Finance Act, 1997.
96
Clause (89) deleted by Notification No. SRO 1081(I)/93 dated November 1, 1993. Provided that the existing beneficiaries to which the aforesaid clause apply shall continue to get the benefit of exemption until the period stipulated therein has expired.
97
Words inserted by Finance Act, 1997.
98
Clause (91) substituted by Finance Act, 1992 w.e.f. assessment year 1993-94.
FROM [Endowment Fund of the . . . . . . . . . . . . . Khan Development
Network.]
99 Substituted for "Endowment Fund of the Agha Khan University Foundation
(Pakistan Branch), Karachi" by Notification No. SRO. 433(I)/95 dated May 29, 1995
w.e.f July 1, 1995 for the purpose of assessment of income.
100
Word "and" omitted by Notification No. SRO 164(I)/93 dated February 17, 1993.
101
The original full stop was substituted by ";and" by Notification SRO 164(I)/93 dated February 17, 1993, the word "and" was then omitted by Finance Act, 1993.
102
Sub-Clause (xxxi) inserted by Notification No. SRO 164(I)/93 dated February 17, 1993.
103
Substituted for full Stop by Finance Act, 1993.
104
Clause (xxxii) inserted by Finance Act, 1993.
105
Clause (xxxiii) inserted by Notification No. SRO 1085(I)/94 dated November 3, 1994.
106
Clause (xxxiv) inserted by Notification No. SRO 350(I)/95 dated April 24, 1995.
107
Sub-clause (xxxv) inserted by Notification No. SRO 433(I)/95 dated May 29, 1995 w.e.f. July 1, 1995 for the purpose of assessment of income.
108
Sub-clauses (xxxvi) and (xxxvii) inserted vide Finance Act, 1996.
109
Sub-clause (xxxviiA) inserted by Finance Act, 1997.
110
Clause (91A) inserted vide Notification No. SRO 181(I)/97, dated March 22, 1997.
111
Clause (92) deleted by Notification No. SRO 1081(I)/93 dated November 1, 1993. Provided that existing beneficiaries to which the aforesaid clause apply shall continue to get the benefit of exemption until the period stipulated therein has expired. Earlier it was substituted by Notification No. SRO 122(I)/93 dated February 4, 1993.
FROM [ , investments in securities of the Federal Government and ]
112 Words etc. inserted by Finance Act, 1992 w.e.f. assessment year 1993-94.
113
Words and commas "donations, voluntary contributions, subscriptions" omitted by Finance Act., 1993. The comma after Subscriptions has not been omitted though superfluous.
114
Substituted for "property" by Finance Act, 1989.
115
Words "or business" omitted by Finance Act, 1989. Earlier these words were re-inserted by Notification No. SRO 1042(I)/83, dated November 3, 1983 after being omitted by Finance Ordinance, 1983.
116
Substituted for "religious and" by Finance Act, 1993.
117
Proviso omitted by Finance Act, 1989.
118
Proviso substituted by Finance Act, 1989.
119
Explanation substituted by Finance Act, 1989.
120
Clause (93A) inserted by Notification No. SRO 176(IĄ95 dated March 1, 1995. Earlier it was omitted by Notification No. SRO 447(I)/93 dated May 19, 1993 w.e.f. May 30, 1993. Provided that the existing beneficiaries and operative contracts to which the aforesaid clause applied shall be entitled to the benefit of exemption from tax until the expiration of the periled specified in the said clause. Earlier it was inserted by Notification No. SRO 209(I)/91 dated March 13, 1991.
121
Commas and words ",donations, subscriptions, house property and investments in securities of the Federal Government" omitted by the Finance Act, 1993. Earlier the words and commas "contributions, donations, subscriptions, house property and investment in securities of the Federal Government" were substituted for the word "contributions" by Finance Act, 1992 w.e.f. assessment year 1993-94.
122
Clause (95) deleted by Notification No. SRO 1136(I)/91 dated November 7, 1991, w.e.f. July l, 199l. Provided that the existing beneficiaries and operative contracts to which the aforesaid clause apply shall continue to get the benefit of exemption until the period stipulated therein has expired.
123
Clause (95A) omitted by Notification No. SRO 447(I)/93 dated May 19, 1993 w.e.f. May l, 1993. Provided that the existing beneficiaries and operative contracts to which the aforesaid clause applied shall be entitled to the benefit of exemption from tax until the expiration of the period specified in the said clause. Earlier it was inserted by Finance Act, 1985 w.e.f. assessment year 1985-86.
124
Clauses (95B) and (96) deleted by Notification No. SRO 1136(I)/91 dated November 7, 1991, w.e.f. July 1,1991 Provided that the existing beneficiaries and operative contract to which the aforesaid clause apply shall continue to get the benefit of exemption until the period stipulated therein has expired, Earner the clause (95B) was inserted by Finance Act, 1985 w.e.f. assessment year 1986-87 and was substituted by France Act, 1997, deemed always have been so substituted.
125
Clause (97) omitted by Notification No. SRO 768(I)/81, dated July 7, 1981.
126
Clause(98) deleted by Notification No. SRO 1136(I)/91 dated November 7, 1991, w.e.f. July 1, 1991. Provided that the existing beneficiaries and operative contracts to which the aforesaid clause apply shall continue to get the benefit of exemption until the period stipulated therein has expired.
127
Clauses (99), (100), (101) and (102) deleted by Notification No. SRO 1136(I)/91 dated November 7, 1991, w.e.f. July 1, 1991. Provided that the existing beneficiaries and operative contracts to which the aforesaid clauses apply shall continue to get the benefit of exemption until the period stipulated therein has expired.
128
Clause (102A) omitted by Finance Act, 1995. Earlier it was inserted by Finance Act, 1988.
129
Clause (102B) omitted by Finance Act, 1995. Earlier it was inserted by Notification No. SRO 337(I)/93 dated April 25, 1993.
130
Clause (102C) inserted by Notification No. SRO 337(I)/93 dated April 25,1993.
131
Substituted for "1998" by Finance Act, 1996.
132
Clause (102D) substituted by Finance Act, 1997. Earlier it was inserted by Notification SRO 1399(1)/96, dated December 24, 1996.
133
Clause (103) deleted by Notification No. SRO 1081(I)/93 dated November l, 1993. Provided that the existing beneficiaries to which the aforesaid clause apply shall continue to get the benefit of exemption until the period stipulated therein has expired. Earlier it was substituted by Finance Act, 1990.
134
Clauses (103A), (104), (105) and (106) omitted by Finance Act, 1992. Clause (103A) was inserted by Notification No. SRO 799(I)/90 dated July 31, 1990.
Clause (107) omitted by Notification No. SRO 103(I)/92 dated February 15, 1992 w.e.f. assessment year 1992-93.
136
Clause (107A) inserted by Notification No. SRO 1169(I)/90 dated November 11, 1990.
137
Clause (108) inserted by Finance Act, 1997, earlier it was omitted by Finance Act, 1995.
138
Clause (111A) inserted by Notification No. SRO 679(I)/91 dated July 24, 1991.
139
Words etc. inserted by Finance Act, 1992.
140
Clause (113) omitted vide Finance Act, 1996 w.e.f. assessment year 1996-97.
141
Clause (114) deleted by Notification No. SRO 1081(I)/93 dated November 1, 1993. Provided that the existing beneficiaries to which the aforesaid clause apply shall continue to get the benefit of exemption until the period stipulated therein has expired.
142
Clause (115A) substituted by Notification No. SRO 529(I)/83, dated May 24, 1983. The clause was earlier inserted by Notification No. SRO 768(I)/81, dated July 7, 1981-
FROM [, being income from the sale of modaraba certificates or any
instrument of redeemable capital as defined in the Companies Ordinance, 1984 (XLVII of
1984), listed on any stock exchange in Pakistan or shares of a public company (as defined
in the First Schedule) and the Pakistan Telecommunications Corporation vouchers issued by
the Government of Pakistan,]
143 Inserted by Finance Ordinance, 1983.
144
Words etc. inserted by Finance Act, 1992.
FROM [any instrument of redeemable capital as defined in the Companies
Ordinance, 1984 (XLVII of 1984), listed on any stock exchange in Pakistan or]
145 Inserted by Finance Act, 1994.
146
Words etc. inserted by Income Tax (Second Amendment) Ordinance, 1994 dated August 13, 1994.
147
Substituted for "1999" by Finance Act, 1997. Earlier the figure "1999" substituted for "1996" by Notification No. SRO 177(I)/95 dated March 1, 1995, the figure "1996" was substituted for "1994" by Finance Act, 1993, the figure "1994" was substituted for "1992" by Finance Act, 1991, the figure "1992" was substituted for "1989" by Finance Act, 1988. The figure "1989" was earlier substituted for "1984" by Finance Ordinance, 1983.
148
Clause (116A) inserted by Notification No. SRO 900(I)/91 dated September 8, 1991.
149
Clause (116B) inserted by Notification No. SRO 64(I)/95 dated January 19, 1995.
150
Clause (116C) inserted by Notification No. SRO 65(I)/95 dated January 19, 1995.
151
Colon substituted for full stop by Notification No. SRO 86(I)/96, dated January 30, 1996.
152
proviso inserted by Notification No. SRO 86(I)/96, dated January 30, 1996.
153
Clause (118A) deleted by Notification No. SRO 1136(I)/91 dated November 7, 1991, w.e.f. July 1, 1991. Provided that the existing beneficiaries and operative contracts to which the aforesaid clause apply shall continue to get the benefit of exemption until the period stipulated therein has expired. The clause was inserted by Finance Act, 1988.
154
Clause (118B) deleted by Notification No. SRO 1081(I)/93 dated November 1, 1993. Provided that the existing beneficiaries to which the aforesaid clause apply shall continue to get the benefit of exemption until the period stipulated therein has expired. Earlier it was inserted by Finance Act, 1988.
155
Clause (118C) omitted by Finance Act, 1995. Earlier it was inserted by Notification No. SRO 1283(I)/90, dated December 13, 1990.
156
Clause (118D) omitted by Finance Act, 1995. Before substitution by Notification No. SRO 897(I)/92 dated September 15, 1992, it was inserted by Notification No. SRO 1283(I)/90 dated December 13, 1990.
157
Clause (118E)omitted by Finance Act, 1995. Earlier it was inserted by Notification No. SRO 1283(I)/90, dated December 13, 1990.
158
Clauses (118F) & (118G) omitted by Finance Act, 1995. Earlier it were inserted by Notification No. SRO. 394(I)/91 dated April 14, 1991.
159
Clause (118H) omitted by Finance Act, 1995. Earlier it was inserted by Notification No. SRO 1101-(I)/91 dated October 27, 1991.
160
Clause (118I) omitted by Finance Act, 1995. Earlier it was inserted by Notification No. SRO 589(I)/94 dated June 9, 1994.
161
Clauses (119), (120) and (121) deleted by Notification No. 1136(I)/91 dated November 7, 1991, w.e.f. July 1, 1991. Provided that the existing beneficiaries and operative contracts to which the aforesaid clauses applied shall continue to get the benefit of exemption until the period stipulated therein has expired.
162
Clause (120A) omitted by Finance Act, 1992. Earlier it was inserted by Notification No. SRO 272(I)/84, dated March 28, 1984.
163
Clause (121A) inserted by Finance Ordinance, 1984.
164
The words, figures, letters and commas inserted vide Finance Act, 1996.
165
Sub-clauses (c) and (d) substituted by Finance Act, 1987.
166
Clause (12lB) inserted by Finance Act, 1985 w.e.f. assessment year 1986-87.
167
Inserted by Finance Act, 1996.
168
Clause (121C) inserted by Finance Act, 1993.
169
Clause (122) deleted by Notification No. SRO 1136(I)/91 dated November 7, 1991, w.e.f. July 1, 1991. Provided that the existing beneficiaries and operative contracts to which the aforesaid clause applied shall continue to get the benefit of exemption until the period stipulated therein has expired.
170
Clause (122A) deleted by Notification No. SRO 1136(I)/91 dated November 7, 1991, w.e.f. July 1, 1991. Provided that the existing beneficiaries and operative contracts to which the aforesaid clause apply shall continue to get the benefit of exemption until the period stipulated therein has expired. Earlier it was inserted by Finance Ordinance, 1984.
171
Clause (122B) deleted by Notification No. SRO 1081(I)/93 dated November 1, 1993. Provided that the existing beneficiaries to which the aforesaid clause apply shall continue to get the benefit of exemption until the period stipulated therein has expired. Earlier it was inserted by Notification No. SRO 581(I)/86, dated June 15, 1986.
172
Clause (122C) deleted by Notification No. SRO 1081(I)/93 dated November 1, 1993. Provided that the existing beneficiaries to which the aforesaid clause apply shall continue to get the benefit of exemption until the period stipulated therein has expired. Earlier it was inserted by Notification No. SRO 60(I)/87 dated January 22, 1987.
173
Clause (122D) deleted by Notification No. SRO 1081(I)/93 dated November 1, 1993. Provided that the existing beneficiaries to which the aforesaid clause apply shall continue to get the benefit of exemption until the period stipulated therein has expired. Earlier it was inserted by Notification No. SRO 394(I)/87 dated May 13, 1987.
174
Clause (122E) deleted by Notification No. SRO 1136(I)/91 dated November 7, 1991 w.e.f. July 1, 1991. Provided that the existing beneficiaries and operative contracts to which the aforesaid clause apply shall continue to get the benefit of exemption until the period stipulated therein has expired. The clause was inserted by Notification No. SRO 496(I)/90 dated May 29, 1990.
175
Clause (122F) and (123) deleted by Notification No. SRO 1081(I)/93 dated November 1, 1993. Provided that the existing beneficiaries to which the aforesaid clause apply shall continue to get the benefit of exemption until the period stipulated therein has expired. Earlier Clause (122F) was inserted by Notification No. SRO 496(I)/90 dated May 29, 1990.
176
Clause (123A) deleted by Notification No. SRO 1081(I)/93 dated .November 1, 1993. Provided that the existing beneficiaries to which the aforesaid clause apply shall continue to get the benefit of exemption until the period stipulated therein has expired. Earlier it was inserted by Finance Act, 1987.
177
Clause (124) deleted by Notification No.-SRO 1136(I)/91 dated November 7, 1991 w.e.f. July i 1991. Provided that the existing beneficiaries and operative contracts to which the aforesaid clause apply shall continue to get the benefit of exemption until the period stipulated therein has expired.
178
Clause (124A) omitted by Finance Act, 1995. Earlier it was inserted by Notification No. SRO 741(I)/91 dated August 11, 1991.
179
Clause (125) omitted by Finance Act, 1995.
180
Clause (125A) omitted by Finance Act, 1995. Earlier it was inserted by Notification No. SRO 810(I)/85, dated August 21, 1985.
181
Clause (125B) omitted by Finance Act, 1995. Earlier it was inserted by Notification No. SRO 849(I)/92 dated September 1, 1992. The original clause (125B) was inserted by Finance Act, 1986 and was deleted by Notification No. SRO 1186(I)/91 dated November 7, 1991, w.e.f. July 1, 1991, provided that the existing beneficiaries and operative contracts to which the clause applied shall continue to get the benefit of exemption until the period stipulated therein has expired.
182
Clause (125C) inserted by Finance Act, 1994.
183
Substituted for "1997" by Finance Act, 1997.
184
Clause (125D) inserted by Finance Act, 1994.
185
Substituted for "1997" by Finance Act, 1997.
186
Clause (125E) inserted by Finance Act, 1997.
187
Substituted for full stop by Finance Act, 1996.
FROM [Provided that nothing contained in this clause shall apply to an
industrial undertaking set up after the 30th June, 1997.]
188Proviso added vide Finance Act, 1996.
189
Clause (126A) inserted by Notification No. SRO 958(I)/88, dated October 23, 1988.
190
Substituted for "thirty-first day of December, 2000" by Finance Act, 1996.
191
Clause (126B) inserted by Finance Act, 1992.
192
Colon substituted for full stop by Notification No. SRO 86(I)/96, dated January 30, 1996.
193
Proviso inserted by Notification No. SRO 86(I)/96, dated January 30, 1996.
194
Clause (126C) inserted by Notification No. SRO 66(I)/95 dated January 18, 1995.
195
Clause (126D) inserted by Notification No. SRO 810(I)/95 dated August 7, 1995.
196
Substituted for "1999" by the Finance Act, 1996
197
Clause (126E) omitted by SRO 150(I)/96, dated February 28, 1996. Earlier it was inserted by 85(I)96, dated January 29, 1996.
198
Clause (127) omitted by Finance Act, 1996 providing that the existing beneficiaries and operative contracts to which this clause applied upto the 30 June, 1996, shall continue to get the benefit of exemption until the period stipulated therein has expired.
199
Substituted for full stop by Finance Act, 1996.
200
proviso inserted by Finance Act, 1996.
201
Clause (129) omitted by Finance Act, 1994.
202
Heading and Clause (129A) inserted by Finance Act, 1993.
203
Comma and words inserted by Finance Act, 1997.
204
Clauses (129B) and (130) inserted by Finance Act, 1994. Earlier clause (130) was deleted by Notification No. 103(I)/92 dated February 15, 1992 w.e.f. assessment year 1992-93.
205
Clause (130) omitted vide Finance Act, 1996. w.e.f. assessment year 1996-97.
206
Heading and clause (130A) inserted by Finance Act, 1985 w.e.f. assessment year 1986-87.
207
Clause (131) deleted by Notification No. SRO 1136(I)/91 dated November 7, 1991, w.e.f. July 1, 1991. Provided that the existing beneficiaries and operative contracts to which the aforesaid clause apply shall continue to get the benefit of exemption until the period stipulated therein has expired.
208
Clause (132) omitted by Finance Act, 1986.
209
Clause (133A) inserted by Notification No. SRO 433(I)/95 dated May 29, 1995 w.e.f. July 1, 1995 for the purpose of assessment of income.
210
Clause (134) substituted by Notification No. SRO 1144(I)/90, dated November 5, 1990.
211
Heading and clause (134A) inserted by Notification No. SRO 449(I)/88, dated June 20, 1988.
212
Substituted for "ten years" by Notification No. SRO 390(I)/94 dated May 18, 1994.
213
Substituted for "fifteen years" by Notification No. SRO 249(I)/94 dated March 21, 1994.
214
Clause (135A) deleted by Notification No. SRO 1136(I)/91 dated November 7, 1991, w.e.f. July 1, 1991. Provided that the existing beneficiaries and operative contracts to which the aforesaid clause apply shall continue to get the benefit of exemption until the period stipulated therein has expired. The clause was inserted by Notification No. SRO 785(I)/81, dated July 15, 1981 and was then substituted by Notification No. SRO 254(I)/87, dated March 31, 1987.