Income Tax Ordinance, 2001

CONTENTS

CHAPTER I: PRELIMINARY
CHAPTER II: CHARGE OF TAX
CHAPTER III: TAX ON TAXABLE INCOME
     PART I-- COMPUTATION OF TAXABLE INCOME
     PART II--HEAD OF INCOME: SALARY
     PART III--HEAD OF INCOME: INCOME FROM PROPERTY
     PART IV--HEAD OF INCOME: INCOME FROM BUSINESS
     PART V--HEAD OF INCOME: CAPITAL GAINS
     PART VI--HEAD OF INCOME: INCOME FROM OTHER SOURCES
     PART VII--EXEMPTIONS AND TAX CONCESSIONS
     PART VIII--LOSSES
     PART IX--DEDUCTIBLE ALLOWANCES
     PART X--TAX CREDITS
CHAPTER IV: COMMON RULES
     PART I--GENERAL
     PART II--TAX YEAR
     PART III--ASSETS
CHAPTER V: PROVISIONS GOVERNING PERSONS
     PART I--CENTRAL CONCEPTS
     PART II--INDIVIDUALS
     PART III--ASSOCIATIONS OF PERSONS
     PART IV--COMPANIES
     PART V--COMMON PROVISIONS APPLICABLE TO ASSOCIATIONS OF PERSONS AND                        COMPANIES
     PART VA--TAX LIABILITY IN CERTAIN CASES
CHAPTER VI: SPECIAL INDUSTRIES
     PART I--INSURANCE BUSINESS
     PART II--OIL, NATURAL GAS AND OTHER MINERAL DEPOSITS
CHAPTER VII: INTERNATIONAL
     PART I--GEOGRAPHICAL SOURCE OF INCOME
     PART II--TAXATION OF FOREIGN-SOURCE INCOME OF RESIDENTS
     PART III--TAXATION OF NON-RESIDENTS
     PART IV--AGREEMENTS FOR THE AVOIDANCE OF DOUBLE TAXATION AND                                         PREVENTION OF FISCAL EVASION
CHAPTER VIII: ANTI-AVOIDANCE
CHAPTER IX: MINIMUM TAX
CHAPTER X: PROCEDURE
     PART I--RETURNS
     PART II--ASSESSMENTS
     PART III--APPEALS
     PART IV--COLLECTION AND RECOVERY OF TAX
     PART V--ADVANCE TAX AND DEDUCTION OF TAX AT SOURCE
     PART VI--REFUNDS
     PART VII--REPRESENTATIVES
     PART VIII--RECORDS, INFORMATION COLLECTION AND AUDIT
     PART IX--TAXPAYER’S REGISTRATION
     PART X--PENALTY
     PART XI--OFFENCES AND PROSECUTIONS
     PART XII--DEFAULT SURCHARGE
     PART XIII--CIRCULARS
CHAPTER XI: ADMINISTRATION
     PART I--GENERAL
     PART II--DIRECTORATES-GENERAL
     PART III-- DIRECTORATES-GENERAL
CHAPTER XII: TRANSITIONAL ADVANCE TAX PROVISIONS
CHAPTER XIII: MISCELLANEOUS
   FIRST SCHEDULE
     PART I--RATES OF TAX
     PART II--RATES OF ADVANCE TAX
     PART III--DEDUCTION OF TAX AT SOURCE
     PART IV--DEDUCTION OR COLLECTION OF ADVANCE TAX
   SECOND SCHEDULE
     EXEMPTIONS AND TAX CONCESSIONS
   THIRD SCHEDULE
   FOURTH SCHEDULE
     RULES FOR THE COMPUTATION OF THE PROFITS AND GAINS OF INSURANCE BUSINESS
   FIFTH SCHEDULE
   SIXTH SCHEDULE
   SEVENTH SCHEDULE
   EIGHTH SCHEDULE