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

(INCOME TAX)

S.R.O. 479(I)/2001.-

In exercise of the powers conferred by sub-section (2) of section 14 of the Income Tax Ordinance, 1979  (XXXI of 1979), the Federal Government is pleased to direct that the following further amendment  shall be made in the Second Schedule to the said Ordinance, namely:-

In the aforesaid Schedule, in Part-III, in clause (1B), in paragraph (1),-

(a)    after the letter "A", the word, letter and figure "or A1" shall be inserted;

(b)    in the table, the following serial number and the entries relating thereto shall be inserted, namely:-

"1.    Where income does not exceed Rs.60,000

80%, and

               

(c)    after the table, amended as aforesaid, the following proviso shall be added, namely:-

"Provided that serial number 1 and the entries relating thereto shall not apply in respect of an assessment for the assessment year commencing on or after the 1st day of July 2002."-

2.    The notification shall take effect from 1st day of July 2001.