Following is the complete sections of the Income Tax Ordinance, 2001 updated up to June 30, 2001 after incorporating changes brought through Finance Act, 2001.
Section 2. Definitions.
Section 4: Tax on taxable income.
Section 4B: Super Tax.
Section 5: Tax on dividends.
Section 6: Tax on payment to non-residents.
Section 7: Tax on shipping, air transport income of non-residents.
Section 7B: Tax on profit on debt.
Section 7C and 7D: Tax on builders, developers.
Section 8: General provisions for final tax regime.
Section 9 and 10: Taxable income, total income under statute.
Section 11: Heads of income for imposition of tax.
Section 12: Salary income explained by tax ordinance.
Section 13: Value of perquisites for salary tax computation.
Section 14: Employee share scheme not chargeable to tax.
Section 15: Tax on income from property under updated ordinance.
Section 16: Non-adjustable amounts received in relation to buildings.
Section 18: Taxation on income from business under updated law.
Section 19: Tax treatment of income from speculation business.
Section 20: Tax law allows deductions against business income.
Section 21: Expenditures not allowed against business income.
Section 22: How depreciation deduction allowed for tax calculation.
Section 23: Initial allowance adjustment in computing income tax.
Section 24: Tax deduction allowed against cost of intangibles.
Section 25: Tax treatment of pre-commencement expenditure.
Section 26: Expenses on scientific research against tax liability.
Section 27: Expenses on employee training allowed tax adjustment.
Section 28: Expenditure against profit on debt allowed.
Section 29: Expenditures against bad debt allowed.
Section 30: Expenditures on non-performing debts under tax law.
Section 31: Tax expenditures against transfer of participatory reserve.
Section 32, 33, and 34: Method of accounting under income tax ordinance.
Section 35: Tax treatment of disposal of stock in trade.
Section 36: Determination of tax on long term contracts.
Section 37: Taxation of capital gain under.
Section 37A: Capital gain tax on disposal of securities.
Section 38: Loss adjustment in computing capital gain tax.
Section 39: Income from other sources under tax ordinance.
Section 40: Adjustment against income from other sources.
Section 41: Tax ordinance exempts agriculture income.
Section 42: Income tax exemption to diplomatic, UN.
Section 43: Foreign govt officials entitled to tax exemption.
Section 44: Tax exemption under international agreements.
Section 45: Tax exemption on award granted by President.
Section 46: Profit of non-resident granted income tax exemption.
Section 47: Scholarship cost exempted from income tax.
Section 48: Support payment made tax exempted.
Section 49: Income of governments exempted under tax law.
Section 50: Foreign source income tax exempted.
Section 51: Income tax exemption to Pakistani expatriates.
Section 53: Exemptions, concessions under Second Schedule.
Section 54: Exemption, tax provisions in other laws.
Section 55: Limitation of exemption under tax ordinance.
Section 56: Set off losses against income tax.
Section 57: Carry forward of business losses allowed.
Section 58: Carry forward of speculation business losses against income.
Section 59 and 59A: Carry forward of capital losses allowed against income tax.
Section 59AA: Group taxation under income tax.
Section 59B: Tax treatment of losses under group relief.
Section 60: Deductible allowance against income tax liability.
Section 61: Tax credit granted for charitable donations.
Section 62: Tax credit granted on investment in share, investment.
Section 63: Tax incentive for contribution to pension fund.
Section 64B: Employment generation gets tax credit.
Section 64D: Point of sale machines allowed tax credit.
Section 65: Tax credits for various provisions of law.
Section 65B: Tax incentive for companies on purchase of machinery.
Section 65E: Tax credit for establishing industrial undertaking.
Section 65F: Law allows certain persons to avail tax credit.
Section 65G: Tax credit for capital investment in specified sectors.
Section 66: Tax treatment of property owned by persons.
Section 67: Income tax law describes apportionment of deductions.
Section 68: Income tax calculation on fair market value.
Section 69: Treatment of time for receiving amount under tax law.
Section 70: Income tax on compensation against loss.
Section 71: Every amount to be taken in PKR for income tax purpose.
Section 72: Tax on income from ceased business.
Section 73: Rules to prevent double deduction under income tax law.
Section 74: Normal tax year to run through July 01 to June 30.
Section 75: Disposal and acquisition of assets under tax law.
Section 75A: Banking payment must for asset purchase.
Section 76: Calculation of asset cost for income tax purpose.
Section 77: Tax treatment on consideration against asset disposal.
Section 78: Non-arm’s length transactions under tax law.
Section 79: Non-recognition of rules under income tax ordinance.
Section 80: Income Tax Ordinance defines persons.
Section 81: Law explains resident, non-resident persons.
Section 82: Resident individuals defined under tax law.
Section 83: Tax law defines resident company.
Section 84: Who are resident association of persons?
Section 85: How two persons called associates under tax law?
Section 86: Principle of taxation of individuals.
Section 87: Taxation on income of deceased individuals.
Section 88: Tax treatment of individual of AOP member.
Section 89: Income of authors under tax ordinance.
Section 90: Treatment of tax on transfers of assets.
Section 91: Income of minor child under tax law.
Section 92: Principles of taxation of Association of Persons.
Section 94: Principles of taxation of companies.
Section 95: Computation of gains on business disposal to company.
Section 96: Gain on AOP assets disposal between companies.
Section 97: Gain on asset disposal between companies.
Section 97A: Asset disposal under scheme of arrangement.
Section 98: Treatment of deduction in change of entity control.
Section 99: Special tax provisions relating to various businesses.
Section 100: Special tax provisions for exploration, production.
Section 100A: Computing profit, gains of banking companies.
Section 100B: Special provisions relating to capital gain tax.
Section 100BA: Special tax provisions for non-ATL persons
Section 100C: Allowing tax credit for charitable organization
Section 100D: Special provisions related to builders, developers
Section 100E: Special provisions related to SMEs
Section 101: Taxation of geographical source of income
Section 102: Tax exemption on foreign source of income
Section 103: Tax credit on residents’ foreign income
Section 104: Taxability of expenses incurred on foreign income
Section 105: Taxation on permanent establishment in Pakistan
Section 106A: Restriction on deduction of profit on debt payable to associated enterprise.
Section 107: Agreements for the avoidance of double taxation and prevention of fiscal evasion
Section 108: Transactions between associates.
Section 108A: Report from independent chartered accountant or cost and management accountant
Section 108B: Transactions under dealership arrangements
Section 109: Recharacterisation of income and deductions
Section 109A: Controlled foreign company
Section 110: Salary paid by private companies
Section 111: Unexplained income or assets
Section 112: Tax liability in certain security transactions.
Section 113: Application of minimum tax.
Section 113C: Levy of alternative corporate tax.
Section 114: Requirement of filing income tax return by persons.
Section 114A: Requirement of business bank account
Section 115: Details of persons not required to file income tax return
Section 116: Filing wealth statement to declare assets, liabilities
Section 116A: Filing wealth statement against foreign income
Section 117: Intimation required on discontinuing business
Section 118: How to file returns and other documents?
Section 119: Get a time extension to file returns and other documents
Section 120: Assessment of declared income tax return
Section 120B: Proceeding limitations under asset declaration scheme.
Section 121: Powers to make best judgment in assessment cases.
Section 122: Commissioner can amend assessment order
Section 122A: Commissioner empowered to call taxpayer’s record
Section 122B: Commissioner can revise the assessment order
Section 122D: Procedure to settle agreed assessment cases
Section 123: Finalization of provisional amended assessment
Section 124: Assessment giving effect to an order
Section 124A: Powers of tax authorities to modify orders.
Section 125: FBR can issue assessment orders in disputed property
Section 126: Tax officer should issue conclusive assessment order
Section 127: How to make appeal before commissioner IR?
Section 128: Procedure for Commissioner (Appeals) in proceeding
Section 129: Powers of Commissioner (Appeals) in making decision
Section 130: Formation of Appellate Tribunal Inland Revenue
Section 131: How to make appeal before ATIR?
Section 132: Appeal disposal by Appellate Tribunal Inland Revenue
Section 133: Appeal before High Court against ATIR decision
Section 134A: Alternate dispute resolution under ordinance
Section 136: Burden of proof to lie on taxpayers
Section 137: What is due date for tax payment?
Section 138: Recovery through property attachment, arrest taxpayers
Section 138A: Tax recovery through district officer
Section 138B: Tax liability in state of bankruptcy
Section 139: Tax recovery from shareholder of company in liquidation
Section 140: FBR can make tax recovery from third party
Section 141: Company in bankruptcy needs to appoint liquidator
Section 142: Recovery of tax by non-resident member of AOPs
Section 143: Return filing by non-resident ship owner
Section 144: Non-resident aircraft owner or charterer
Section 145: Assessment of persons about to leave Pakistan
Section 146: Recovery of tax from persons assessed in Azad Jammu and Kashmir and Gilgit-Baltistan.
Section 146A , Section 146B and Section 146C : Powers to initiate recovery proceeding any time
Section 147: Taxpayers liable to pay advance tax
Section 147A: Advance tax from provincial registered taxpayers
Section 148: Advance tax on imports to be collected by Customs
Section 149: Employers to deduct tax on salary income
Section 150: Person paying dividends required to withhold tax
Section 151: Provision related to withholding tax on profit on debt
Section 152: Payment to non-resident persons chargeable to tax
Section 153: Tax payment for sale of goods and services
Section 154: Tax to be deducted on realization of export proceeds
Section 154A: Tax payment on export of IT services
Section 155: Income tax on rental immoveable property
Section 156: Income tax on prize bonds, lottery winning
Section 156A: OMCs collect income tax from petrol pumps
Section 158: Time of payment made under tax law
Section 159: Issuance of exemption, reduced tax rate certificate
Section 160: Tax collection and deduction
Section 161: Withholding agent to be liable for failure in deducting tax
Section 162: Recovery of tax from the person from whom tax was not collected or deducted
Section 163: Recovery of tax under section 163
Section 164: Issuing tax certificate must for withholding agents
Section 165: Withholding agents to provide taxpayers’ information
Section 165A: Furnishing of information by banks
Section 165B: Furnishing of information by financial institutions including banks.
Section 166: Priority of tax collected or deducted
Section 167: Indemnity under section 167
Section 168: Provision for claiming tax credit against paid amount
Section 169: Final tax regime under income tax ordinance
Section 170: Procedure to claim income tax refund
Section 170A: Electronic payment of income tax refunds
Section 171: KIBOR+ additional amount to be paid for delayed refunds
Section 171A: Income tax bonds to be issued for refund payment
Section 172: Taxpayers’ representatives to deal tax matters
Section 173: Liability and obligations of representatives
Section 174: Taxpayers must maintain record of past 6 years
Section 175: FBR’s powers to enter taxpayers’ premises for search
Section 176: Commissioner empowered to call for any record
Section 177: Commissioner can select taxpayers for audit
Section 178: Tax authorities can take help from police, other agencies
Section 179: Commissioner can hire translator for documents
Section 180: FBR can obtain information of exempt income
Section 181: Registration of taxpayers for income tax
Section 181A and 181AA: ATL and mandatory registration
Section 181B: FBR to issue card to honor taxpayers
Section 181C: Businesses require displaying NTN
Section 181D: Businesses require to obtain tax license
Section 182(1): Penalty for non-filing tax return and wealth statement
Section 182(1): Amended through Tax Laws (Third Amendment) Ordinance, 2021
Section 182(2): Penalty for non-issuance of cash memos
Section 182A: Returns filed after due date not to get ATL status
Section 183: Exemption from penalty and default surcharge
Section 191: Prosecution for failure to comply with tax obligations
Section 192: Three-year jail for false statement under income tax law
Section 192A: Two years jail for income concealment
Section 192B: Three years for undeclared offshore asset
Section 193: Failure to keep record to attract two years imprisonment
Section 194: Prosecution for improper use of NTN Certificate
Section 195: Prosecution for making false, misleading statements
Section 195A: Prosecution for not declaring foreign assets
Section 196: Obstructing tax officials punishable offence
Section 197: Prosecution for disposal of property
Section 198: Prosecution for sharing unauthorized information
Section 199: Abetment in tax matters to be offence
Section 200: Prosecution for offence by companies, AOPs
Section 201: Institution of prosecution proceedings
Section 202: Commissioner’s power to compound offences
Section 203: Trial of tax cases by special judge
Section 204: Power to tender immunity from prosecution
Section 205: Default surcharge
Section 206: Circulars
Section 207: Income tax authorities
Section 208: Appointment of income tax authorities
Section 209: Jurisdiction of income tax authorities
Section 210: Delegation
Sections 211, 212 and 213
Section 214: Income tax authorities to follow orders of the Board
Section 215: Furnishing of returns and documents
Section 216: Disclosure of information by public servant in tax matters
Section 216A: Proceedings against authority and persons
Section 217: Authentication of forms, notices and other documents
Section 218: Service of notices and other documents
Section 219: Tax or refund computed to the nearest rupee
Section 220: Receipts for amounts paid
Section 221: Commissioner can rectify mistakes apparent from record
Section 222: Appointment of expert
Section 223: Appearance by authorised representative
Section 224: Proceedings under the Ordinance to be judicial proceedings
Section 225: Proceedings against companies under liquidation
Section 226: Computation of limitation period under section 226
Section 227: Bar of suits in Civil Courts
Sections 227A, 227B, 227C, 227D, 227E: Reward for officials, whistleblowers in tax recovery
Section 228 to 230I: Functions of Directorates under tax law
Section 231B: Advance tax on private motor vehicles
Section 233: Brokerage and commission
Section 234: Tax on motor vehicles
Section 235: Advance tax rates on electricity consumption
Section 236: Telephone and internet users
Section 236A: Advance tax at the time of sale by auction
Section 236C: Advance Tax on sale or transfer of immovable Property
Section 236G: Advance tax on sales to distributors, dealers and wholesalers
Section 236H: Advance tax on sales to retailers
Section 236I: Advance tax collection by educational institutes
Section 236K: Advance tax on purchase of immovable property
Section 236O: Advance tax not applicable on certain authorities
Section 236Q: Payment to residents for use of machinery, equipment
Section 237: Tax ordinance empowers FBR to make rules
Sections 238, 239, 240, 241, 242 of Tax Ordinance
FIRST SCHEDULE
Tax rates for individuals, AOPs for Tax Year 2022
Rate of tax for salaried persons for tax year 2022
Rates of income tax for companies during Tax Year 2022
Rate of super tax for Tax Year 2022
Rate of dividend tax for Tax Year 2022
Rate for profit on debt for Tax Year 2022
Rate of tax on return on investment in sukuks
Tax rates on royalty, fee for technical services
Tax rates on shipping, air transport income
CGT rates on disposal of securities during Tax Year 2022
CGT rates on immovable property for Tax Year 2022
Tax rates on builders, developers for tax year 2022
Minimum tax rates for tax year 2022
Rates on Advance tax for Tax Year 2022
Advance tax rates on dividend for Tax Year 2022
Rate of tax on exports during Tax Year 2022
Tax rates on income from property during tax year 2022
Tax rates on prize and winnings during tax year 2022
Tax rates on petroleum products during tax year 2022
Tax rates on brokerage and commission in tax year 2022
Tax rates on motor vehicles during tax year 2022
Tax rates on electricity consumption during TY 2022
Tax rates on telephone users during tax year 2022
Tax rates on transfer of motor vehicles during TY22
Tax on sale of immovable property during Tax Year 2022
Rates of tax on sales to distributors during tax year 2022
Tax rates on sales to retailers during TY 2022
Rate of tax on education fee during tax year 2022
Tax rate on immovable property purchase during TY 2022
Tax rate on right to use machinery during Tax Year 2022
SECOND SCHEDULE
PART I – Tax exemption from total income during tax year 2022
PART II – Reduced rates of tax under Income Tax Ordinance, 2001
PART III – Reduction in liabilities under income tax law
PART IV – Tax exemptions from various provisions of ITO
THIRD SCHEDULE
PART I – Tax deduction on depreciable assets
PART II – Tax concession on first year allowance under ITO 2001
PART III – Tax concession on pre-commencement expenditure
FOURTH SCHEDULE
Tax on profits, gains of insurance business
FIFTH SCHEDULE
PART I – Tax computation on income of exploration companies
PART II – Tax computation on profits, gains from exploration units
SIXTH SCHEDULE
PART I – Recognition of provident funds for income tax purpose
PART II – Taxation for approved superannuation funds
PART III – Approval of gratuity funds by Commissioner IR
SEVENTH SCHEDULE
Income tax computation of banking companies
EIGHT SCHEDULE
Rules for computing capital gains on listed securities
NINTH SCHEDULE
Taxation on profits and gains for traders
TENTH SHEDULE
Rules for persons not appearing in ATL
ELEVENTH SCHEDULE
Computation of income tax for builders and developers
TWELFTH SCHEDULE
Category of taxpayers for income tax on imports
THIRTEENTH SCHEDULE
Tax credit for charitable donations
FOURTEENTH SCHEDULE
Computation of income tax on profit and gains for SMEs
