amendments

GOVERNMENT OF PAKISTAN REVENUE DIVISION CENTRAL BOARD OF REVENUE ****** Islamabad, the 31st May ,2002. N O T I F I C A T I O N (WEALTH TAX) S.R.O. 298(I)/2002.- 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 amendments shall be made in the Second Schedule to the said Act, namely:- In the aforesaid Schedule, in Part-I, in clause (7) in sub-clause (iii),- (a) for the words and commas "by the original registered owner, and in the case of the subsequent registered owners, for the unexpired period of maturity of such bonds", the words "or until maturity of such bonds" shall be substituted; and (b) in the proviso, for the full stop at the end a colon shall be substituted and thereafter the following new proviso shall be added, namely:- "Provided further that any asset created out of encashment of bearer bonds, on or after the 6th day of November, 1998, shall also be exempt for a period of six years reckoned from the year in which such bonds were encashed subject to the furnishing of the certificate referred to in sub rule (5) of rule 7 of the Special U.S. Dollar Bonds Rules, 1998.". [ C.No. 1(30) WT / 98] (VAKIL AHMAD KHAN) MEMBER(DIRECT TAXES)/ADDITIONAL SECRETARY