Subject::
FINANCE ORDINANCE,
2001 – EXPLANATION OF IMPORTANT
PROVISIONS RELATING
TO INCOME TAX
The following are the important
amendments made in the Income Tax
Ordinance, 1979, through the Finance
Ordinance, 2001
25:
AMENDMENTS IN SECOND SCHEDULE OF
THE INCOME TAX
ORDINANCE, 1979
Part-I, Part-III and Part-IV of the
Second Schedule.
(A)
The following amendments have been
made in Part-I of Second
Schedule to the Ordinance.
A new clause (7F) has
been introduced in
Part-I of the Second
Schedule, by virtue of
which the salary of
Pakistani seafarers
working on foreign
ships, which is
chargeable to tax, would
be exempt from tax in
Pakistan, if it is
remitted through normal
banking channel within
two months of the end of
the relevant income
year:
Flying allowance
received by pilots,
navigators and engineers
employed by Civil
Aviation Authority has
been exempted from tax
through an amendment in
clause (39B);
Executive Committee Meeting of
Master Mariner Society of
Pakistan will be held at 17.30
Hrs. at Room No 18, Old Ralli
Brothers Building, Talpur Road,
Karachi.
Annual
Dinner
2011:
Master Mariners society of
Pakistan is holding it's Annual
Dinner 2011
TO HONOUROUR SENIOR
Members in recognition of their valuable
services to Pakistan Merchant Navy and to
promote professional competence to Maritime
Fraternity.
