Section 47 of Income Tax Ordinance, 2001 has exempted the cost incurred on any scholarship.
Following is the text of Section 47 of the Income Tax Ordinance, 2001:
47. Scholarships.— Any scholarship granted to a person to meet the cost of the person’s education shall be exempt from tax under this Ordinance, other than where the scholarship is paid directly or indirectly by an associate.
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