Exemption has been granted from Income Tax on income derived from Welfare Fund created under rule 26 of the Emigration Rules, 1979 from the tax year 2003.
SRO 819(I)/2012 is an Income Tax SRO dated 6 July 2012, listed by FBR as "Exemption has been granted from Income Tax on income derived from Welfare Fund created under rule 26 of the Emigration Rules, 1979 from the tax year 2003.".
FBR publishes this SRO as scanned images, so the text below was transcribed by Qanoon Digest from the page images, with tables set out as tables. Check the official PDF before relying on any wording or figure.
Page 1
Government of Pakistan
Revenue Division
Federal Board of Revenue
Islamabad, the 4th July, 2012.
NOTIFICATION
(Income Tax)
S.R.O. 819 (I)/2012. - In exercise of the powers conferred by sub-section (2) of section 53 of the Income Tax Ordinance, 2001 (XLIX of 2001), the Federal Government is pleased to direct that the following further amendment shall be made in the Second Schedule to the said Ordinance, namely:-
In the aforesaid Schedule, in Part-I, after clause (65) the following new clause shall be inserted, namely:-
"(65A) Income for any tax year commencing from the tax year 2003, derived from the Welfare Fund created under rule-26 of the Emigration Rules, 1979 (made under section 16 of the Emigration Ordinance, 1979 (XVIII of 1979), except the income generated by the aforesaid Fund through commercial activities.".
[C.No.1(18)TP-II/91]
(Shahid Hussain Asad)
Additional Secretary/
Member (Inland Revenue)
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