Amendments Second Schedule Said Ordinance, , In Part-IV New Clauses Added, "(34) Provisions Of Claus

GOVERNMENT OF PAKISTAN CENTRAL BOARD OF REVENUE Islamabad, the 25th July, 1998 NOTIFICATION (INCOME TAX) S.R.O 848(I)/98.- 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 amendments shall be made in the Second Schedule to the said Ordinance, namely:- In the aforesaid Schedule, in Part-IV following new clauses shall be added, namely:- "(34) The provisions of clause (ff) of sectio 24 shall not apply in respect of payments made on account of - - - (a) transaction which do not exceed five thousand rupees; (b) any amount credited by direct transfer of founds to the assessee's employee's bank account for re-imbursement of expenses incurred on behalf of such assessee; (c) freight charges or passenger fare to an airline or reilways or a goods carriage comany; and (d) discharge of a statutory obligation like payment of duties, taxes, octroi, export tax, fines, fees, cesses or levies. (35) Notwithstanding anything contained in clause (fff) of sectio 24, the provisions of the said clause shall not apply to any salaries except salary exceeding Rs.5,000 per month which is not paid through a crossed cheque or by direct transfer of found to such employees' s account. (36) The provisions of sub-section (7F) of sectio 50 shall not apply where the subscriber is a non-taxable charitable institution.". [C.No.24(1)ITP/98(FF) 1 (MUHAMMAD SARWAR KHAWAJA) MEMBER(INCOME TAX)/ADDITIONAL SECRETARY