Section 99 of Income Tax Ordinance, 2001 stated that the profits and gains of any insurance business shall be computed in accordance with the rules in the Fourth Schedule. The Federal Board of Revenue (FBR) issued the Income Tax Ordinance, 2001 updated up to June 30, 2021. The Ordinance incorporated amendments brought through Finance Act, 2021. Following is the text of Section … Continue reading Special tax provisions relating to various businesses