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Income Tax Ordinance, 2001
CHAPTER-III TAX ON TAXABLE INCOME PART VII EXEMPTIONS AND TAX CONCESSIONS
From: 2023-07-01 - To: 0000-00-00 54. Exemptions and tax provisions in other laws.- No provision in any other law providing for - (a) an exemption from any tax imposed under this Ordinance; (b) a reduction in the rate of tax imposed under this Ordinance; (c) a reduction in tax liability of any person under this Ordinance; or (d) an exemption from the operation of any provision of this Ordinance, shall have legal effect unless also provided for in this Ordinance 1[.] 2[***] _____________________________________________________________________________ 1-The colon was substituted vide the Finance Act, 2008 (I of 2008 assented on 26th June, 2008). Earlier it was substituted for the full stop vide the Finance Act, 2003 (I of 2003 assented on 16th June, 2003) 2-The proviso was omitted vide the Finance Act, 2008 (I of 2008 assented on 26th June, 2008). At the time of omission proviso was as under:-- “Provided that any exemption from income tax or a reduction in the rate of tax or a reduction in tax liability of any person or an exemption from the operation of any provision of this Ordinance provided in any other law and in force on the commencement of this Ordinance shall continue to be available unless withdrawn.” Initially: Proviso was added vide the Finance Act, Act, 2003 (I of 2003 assented on 16th June, 2003) Initially: The words inserted vide the Finance Act, Act, 2004 (I of 2004 assented on 30th June, 2004) From: 2008-07-01 - To: 2023-06-30 54. Exemptions and tax provisions in other laws.- No provision in any other law providing for - (a) an exemption from any tax imposed under this Ordinance; (b) a reduction in the rate of tax imposed under this Ordinance; (c) a reduction in tax liability of any person under this Ordinance; or (d) an exemption from the operation of any provision of this Ordinance, shall have legal effect unless also provided for in this Ordinance 1[.] 2[***] _____________________________________________________________________________ 1-The colon was substituted vide the Finance Act, 2008 (I of 2008 assented on 26th June, 2008). Earlier it was substituted for the full stop vide the Finance Act, 2003 (I of 2003 assented on 16th June, 2003)…
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