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GOVERNMENT OF PAKISTAN
REVENUE DIVISION
(CENTRAL BOARD OF REVENUE)
Islamabad, July 1, 2000
N O T I F I C A T I O N
(Income Tax)
S.R.O. 457(I)/2000.--
In exercise of the powers conferred by sub-section (2) of section 14 of the Income Tax Ordinance, 1979 (XXXI of 1979), the Federal Government is pleased to direct that the following further amendments shall be made in the Second Schedule to the said Ordinance, namely :-
In the aforesaid Schedule,---
(a) in Part III, in clause (1B),---
(i) in the entry at serial number "7" in the last column, the figure "10%" shall be substituted by the figure "20%";
(ii) the entry at serial number "8", shall be substituted by the following entries;
"8. Where Income exceeds Rs. 500,000 but does not exceed Rs. 1,000,000
10%
9. Where Income exceeds Rs. 1,000,000
5%"; and
(b) in Part IV, after clause (60), the following new clause shall be added, namely :-
"(61) The provisions of paragraph C of Part V of First Schedule to this Ordinance, in so far as these relate to surcharge, shall not apply in respect of any assessment commencing on or after the 1st day of July, 2000."
[C.No. 4(17)ITP/2000)
(MANSOOR AHMED)
Member (Income Tax) / Additional Secretary
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