Tag: Income Tax Ordinance 2001

Section 101 of the Income Tax Ordinance, 2001 explains about the taxation of the geographical source of income.

In a bid to support and promote the growth of Small and Medium Enterprises (SMEs), the Federal Board of Revenue (FBR) has introduced special provisions under Section 100E of the Income Tax Ordinance, 2001.

Special provisions related to builders and developers have been introduced by the Federal Board of Revenue (FBR).

Section 100C of Income Tax Ordinance, 2001 has allowed tax credit to charitable organizations. The Federal Board of Revenue (FBR) issued the updated Income Tax Ordinance, 2001. The Ordinance incorporated amendments brought through Finance Act, 2021.

Section 100BA of the Income Tax Ordinance, 2001 introduces special provisions for persons not appearing on the Active Taxpayers’ List (ATL).

Section 100B of Income Tax Ordinance, 2001 presents a special provision outlining the computation of capital gain tax on listed securities, ushering in a more structured approach to the taxation of gains derived from stock market transactions.

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.

In a bid to ensure clarity and precision in the taxation of banking companies, Section 100A of the Income Tax Ordinance, 2001 has been introduced, providing special provisions related to banking business.

The Federal Board of Revenue (FBR) has outlined critical provisions related to the exploration and production of oil, natural gas, and other minerals under Section 100 of the Income Tax Ordinance, 2001. This section, updated through the Finance Act, 2021, provides a framework for taxation specific to the energy and mining sectors, reflecting their importance to Pakistan’s economy.

Section 99 of Income Tax Ordinance, 2001 discussed special tax provisions related to various businesses including profits and gains of any insurance business shall be computed in accordance with the rules in the Fourth Schedule.