S.R.O. 546(I)/96, Islamabad, dated 1st July, 1996

SROS: S.R.O. 546(I)/96, Islamabad, dated 1st July, 1996 S.R.O. 546(I)/96, Islamabad, dated 1st July, 1996:- In exercise of thepowers conferred by sub-section(1) of section 165 of the Income Tax Ordinance,1979(XXXI of 1979), the Central Board of Revenue is pleased to direct that the following further amendments shall be made in the Income Tax Rules, 1982, the same having been previously published as required by sub-section(4) of the saidsection, namely:- In the aforesaid rules, - (1) In rule 3, - (a) for sub-rule(1) the following shall be substituted, namely:- (1) For the purposes of computing the income chargeable under thehead salary, the value of perquisites, allowances and benefits to beincluded in the said income shall be determined in accordance withthe provisions of rule 4 to rule 18.; (b) after sub-rule(1), substituted as aforesaid, the following new sub-rule shall be inserted namely:- (1A) Where the income chargeable under the head Salary of an employee of a company as defined in sub-clauses(a),(b),(bb),(c),(cc) and (e) of clause(16) of section 2 of the Ordinance, computed under sub-rule(1) is rupees 300,000 or more per annum, other than an employee of a company…