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<div class="Section1">

<p class="MsoNormal" align="center" style="text-align:center;mso-hyphenate:none;
tab-stops:0in"><span style="font-family:Arial;letter-spacing:-.15pt;mso-bidi-font-weight:
bold">GOVERNMENT OF </span><st1:country-region><st1:place><span style="font-family:Arial;letter-spacing:-.15pt;mso-bidi-font-weight:bold">PAKISTAN</span></st1:place></st1:country-region><!--[if supportFields]><span
style='font-family:Arial;letter-spacing:-.15pt;mso-bidi-font-weight:bold'><span
style='mso-element:field-begin'></span>PRIVATE </span><![endif]--><!--[if supportFields]><span
style='font-family:Arial;letter-spacing:-.15pt;mso-bidi-font-weight:bold'><span
style='mso-element:field-end'></span></span><![endif]--><span style="font-family:
Arial;letter-spacing:-.15pt;mso-bidi-font-weight:bold"><o:p></o:p></span></p>

<p class="MsoNormal" align="center" style="text-align:center;mso-hyphenate:none;
tab-stops:0in"><span style="font-family:Arial;letter-spacing:-.15pt;mso-bidi-font-weight:
bold">(REVENUE DIVISION)<o:p></o:p></span></p>

<h2 align="center" style="text-align:center;tab-stops:0in"><span style="font-size:10.0pt;font-family:Arial;font-weight:normal;mso-bidi-font-weight:
bold">CENTRAL BOARD OF REVENUE<o:p></o:p></span></h2>

<p class="MsoNormal" align="center" style="text-align:center;mso-hyphenate:none;
tab-stops:0in center 3.25in left 3.5in"><span style="font-family:Arial;
letter-spacing:-.15pt;mso-bidi-font-weight:bold">*****<o:p></o:p></span></p>

<p class="MsoNormal" style="text-align:justify;mso-hyphenate:none;tab-stops:0in"><span style="font-family:Arial;letter-spacing:-.15pt;mso-bidi-font-weight:bold"><o:p>&nbsp;</o:p></span></p>

<p class="MsoNormal" align="right" style="text-align:right;mso-hyphenate:none;
tab-stops:0in right 6.5in"><span style="font-family:Arial;letter-spacing:-.15pt;
mso-bidi-font-weight:bold"><span style="mso-spacerun:yes">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</span></span><st1:city><st1:place><span style="font-family:Arial;letter-spacing:
  -.15pt;mso-bidi-font-weight:bold">Islamabad</span></st1:place></st1:city><span style="font-family:Arial;letter-spacing:-.15pt;mso-bidi-font-weight:bold">, </span><st1:date year="2002" day="5" month="9"><span style="font-family:Arial;letter-spacing:
 -.15pt;mso-bidi-font-weight:bold">the 5<sup>th</sup> September,<span style="mso-spacerun:yes">&nbsp;&nbsp; </span>2002</span></st1:date><span style="font-family:Arial;letter-spacing:-.15pt;mso-bidi-font-weight:bold">.<o:p></o:p></span></p>

<p class="MsoNormal" style="text-align:justify;mso-hyphenate:none;tab-stops:0in center 3.25in left 3.5in"><span style="font-family:Arial;letter-spacing:-.15pt;mso-bidi-font-weight:bold"><span style="mso-spacerun:yes">&nbsp;&nbsp; </span><o:p></o:p></span></p>

<p class="MsoNormal" align="center" style="text-align:center;mso-hyphenate:none;
tab-stops:0in center 3.25in left 3.5in"><u><span style="font-family:Arial;
letter-spacing:-.15pt;mso-bidi-font-weight:bold">NOTIFICATION</span></u><span style="font-family:Arial;letter-spacing:-.15pt;mso-bidi-font-weight:bold"><o:p></o:p></span></p>

<p class="MsoNormal" align="center" style="text-align:center;mso-hyphenate:none;
tab-stops:0in center 3.25in left 3.5in"><span style="font-family:Arial;
letter-spacing:-.15pt;mso-bidi-font-weight:bold">(Income Tax)<o:p></o:p></span></p>

<p class="MsoNormal" style="text-align:justify;mso-hyphenate:none;tab-stops:0in"><span style="font-family:Arial;letter-spacing:-.15pt;mso-bidi-font-weight:bold"><o:p>&nbsp;</o:p></span></p>

<p class="MsoNormal" style="line-height:200%;mso-hyphenate:none;tab-stops:0in"><span style="font-family:Arial;letter-spacing:-.15pt;mso-bidi-font-weight:bold"><span style="mso-tab-count:1">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </span>S.R.O. 596<span style="mso-spacerun:yes">&nbsp;&nbsp;&nbsp; </span>(I)/2002,- In exercise of the powers
conferred by sub-section(2) of section 53 of the Income Tax Ordinance, 2001
(XLIX of 2001), the Federal Government is pleased to direct that the following
further amendment shall be made in the Second Schedule to the aforesaid
Ordinance, namely:-<o:p></o:p></span></p>

<p class="MsoNormal" style="line-height:200%;mso-hyphenate:none;tab-stops:0in"><span style="font-family:Arial;letter-spacing:-.15pt;mso-bidi-font-weight:bold"><span style="mso-tab-count:2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </span>In the aforesaid
Schedule, in Part I, after clause (120), the following new clause shall be
inserted, namely:- <o:p></o:p></span></p>

<p class="MsoBodyTextIndent" align="left" style="text-align:left"><span style="font-size:10.0pt;line-height:150%;font-family:Arial;font-weight:normal;
mso-bidi-font-weight:bold"><span style="mso-spacerun:yes">&nbsp; </span>� (121)
Profits and gains derived by an <span class="SpellE">assessee</span> from an
Industrial undertaking set up in an area declared by the Federal Government to
be a �Zone� within the meaning of the Export Processing Zones Authority
Ordinance, 1980 (IV of 1980) for the assessment years 1998-1999,1999-2000 and
2000-2001. However, exemption under this clause shall be restricted to the
remaining period of exemption to which a company was entitled before the relevant
amendments made by the Finance Act, 1996 (IX of 1996).<span class="GramE">�.</span>
<o:p></o:p></span></p>

<p class="MsoNormal" style="text-align:justify;mso-hyphenate:none;tab-stops:0in"><span style="font-family:Arial;letter-spacing:-.15pt;mso-bidi-font-weight:bold"><o:p>&nbsp;</o:p></span></p>

<p class="MsoNormal" style="text-align:justify;mso-hyphenate:none;tab-stops:0in"><u><span style="font-family:Arial;letter-spacing:-.15pt;mso-bidi-font-weight:bold">[<span class="GramE">C.No.1(</span>157)DTP.II/94]<o:p></o:p></span></u></p>

<p class="MsoNormal" style="text-align:justify;mso-hyphenate:none;tab-stops:0in"><span style="font-family:Arial;letter-spacing:-.15pt;mso-bidi-font-weight:bold"><o:p>&nbsp;</o:p></span></p>

<p class="MsoNormal" align="right" style="text-align:right;mso-hyphenate:none;
tab-stops:0in right 6.5in"><span style="font-family:Arial;letter-spacing:-.15pt;
mso-bidi-font-weight:bold">(VAKIL AHMAD KHAN)<span style="mso-spacerun:yes">&nbsp;&nbsp;&nbsp;&nbsp; </span><o:p></o:p></span></p>

<p class="MsoNormal" align="right" style="text-align:right;mso-hyphenate:none;
tab-stops:0in right 6.5in"><span style="font-family:Arial;letter-spacing:-.15pt;
mso-bidi-font-weight:bold">Member (Direct Taxes)/Additional Secretary <o:p></o:p></span></p>

</div>




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