EXEMPTIONS, CONCESSIONS, SET OFF AND CARRY FORWARD OF LOSSES AND DEDUCTIBLE ALLOWANCE

Agricultural income includes

As per section 41 agricultural income includes:

As per section 41 agricultural income includes:

As per section 41 agricultural income is a part of total income as

Income of diplomatic and United Nations is exempt form tax as per section

Pension received form united nations or its specialized agencies including international court of justice is exempt where

As per section 42 of the Income Tax Ordinance 2001, Income for exemption has been provided for

As per section 43 foreign government officials are provided exemption form income tax for any salary received provided

Income of any individual either a resident or a not resident performing services under the Aid Agreement shall be:

Monetary award granted to a person by the president of Pakistan shall be:

Any profit received by a non-resident person on a security issued by a resident person shall be exempt from tax where.

A person granted scholarship to meet the cost of – person’s education is

A person granted scholarship to meet the cost of person’s education shall be exempt from tax where:

A lady gets 500,000 per annum form her spouse under an agreement to live a part, this amount shall be:

Income of the following shall be exempt form tax

 Any payment received by Federal Government. Provincial Govt. or a Local Government

 As per section 49 income of Punjab curriculum and tax book board a body corporate under Punjab curriculum and text book board act 2012, shall be

 Income of Punjab power company, a public company owned and controlled by the Government of the Punjab shall be

 As per section 49, Income from sale of spectrum license issued by Pakistan Telecommunication Authority (PTA) shall be treated as

 A citizen of Pakistan leaves Pakistan during a tax year and remains abroad during the tax year and earns income under the head salary, the income shall be

 In the income tax ordinance 2001 Exemption and secessions are provided in the

 Exemptions and tax concessions provided in the second schedule of Income Tax Ordinance 2001 vie granted legal cover under section

 Exemption under the second schedule of income tax ordinance 2001 includes

 As per section 54 any exemption from income tax given in any other law or reduction of rate of tax imposed or reduction in tax liability shall

If a person earns income exempt from tax under income tax ordinance 2001, this exemption:

 Loss is

 Under the following head of Income, no loss is allowed to be adjuste

 Under section  a person can set off loss for any tax year under any head of income as per prescribed scheme.

 Loss from Speculation business can be adjusted under following hea

 Where losses under different heads occur, the loss under following head will be adjusted at last.

 The loss which is not allowed to be set off against any head of income is

 Speculation loss can only be adjusted under the head of

 Capital Loss can only be adjusted under the following head

 Capital Loss be carried forwarded for

 In the case of succession of business, except inheritance, a person:

 Where the loss is because of depreciation, initial allowance or amortization this shall be carried forward for:

 Where the loss is because of depreciation, initial allowance or amortization this shall be set off against 100% of the business income if taxable income under the head income from business is:

 Amalgamated company can set of the losses of amalgamating company or companies and carry forward for six years if the loss is not set off against the business income if:

 As per section 59AA companies locally incorporated under Companies ordinance 1984 or Companies act 2017 a facility of group taxation has been provided with condition(s):

 As per section 59B a subsidiary of a holding company may surrender its assessed loss in favour of its holding company provided

 As per section 60 of the income tax ordinance 2001 Zakat is a

 Zakat shall be deductible allowance and shall be deducted from the total income to arrive at

 .If Zakat is paid in person to some needy people other than paid under zakat and ushar ordinance 1980

 Worker’s welfare fund is applied at

 Worker’s welfare fund is a deductible allowance under section

 As per section 60B Workers’ participation fund under workers participation fund act 1968 is

 Any profit on debt paid on a house building loan from a scheduled bank for construction or acquisition of a house is a deductible allowance provided that

 Educational expenses paid for children education is a deductible allowance provided that

 As per section 60D deductible allowance for education expenses shall be

 Conditions for Deductible allowance for education expenses under section 60D is/are