Income Tax Ordinance, 2001

CHAPTER-VI

SPECIAL INDUSTRIES PART II OIL, NATURAL GAS AND OTHER MINERAL DEPOSITS

Income Tax Ordinance, 2001 CHAPTER-VI SPECIAL INDUSTRIES PART II OIL, NATURAL GAS AND OTHER MINERAL DEPOSITS From: 2024-12-29 - To: 0000-00-00 100. Special provisions relating to the production of oil and natural gas, and exploration and extraction of other mineral deposits.- (1) Subject to sub-section (2), the profits and gains from - (a) the exploration and production of petroleum including natural gas and from refineries set up at the Dhodak and Bobi fields; (b) the pipeline operations of exploration and production companies; or (c) the manufacture and sale of liquefied petroleum gas or compressed natural gas, and the tax payable thereon shall be computed in accordance with the rules in Part I of the Fifth Schedule. (2) Sub-section (1) shall not apply to the profits and gains attributable to the production of petroleum including natural gas discovered before the 24th day of September, 1954 1[: Provided that the for tax year 2017 and onward the…