What exemption granted under section 46 of IT Ordinance 2001-02124
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vu mgt602 Entrepreneurship.
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vu mgt602 Mid Term Solved Past Paper No. 2.
Question 1: What exemption granted under section 46 of IT Ordinance 2001?
Answer:
Section 46 Profit on Debt
Any profit received by a non - resident person on a security issued by a resident person shall be exempt from tax provided:
- Persons not associates
- Security widely issued by resident person outside Pakistan
- Profit on security was paid outside Pakistan
- Security approved by Central Board of Revenue (CBR)
