N O T I F I C A T I O N

(Wealth Tax)

S.R.O. 311(I)/2000.--

In exercise of the powers conferred by sub-section (2) of section 5 of the Wealth Tax Act, 1963 (XV of 1963), the Federal Government is pleased to direct that the following further amendment shall be made in the Second Schedule to the said Act, namely :-

In the aforesaid schedule, in Part I, after clause (10), the following new clause shall be inserted, namely :-

"(10A) The assets representing the amount invested in any National Savings or deposit Certificates including Defence Saving Certificate issued under the National Savings Scheme :

Provided that this clause shall apply only in respect of certificates which are liable to compulsory deduction of Zakat under the Zakat and Ushr Ordinance, 1980 (XVIII of 1980):

Provided further that this clause shall be deemed to have taken effect from the 26th day of October, 1992.

[C. No. 1(15)WT/91)

(MANSOOR AHMED)                  

Member (Direct Taxes) / Additional Secretary