I.T.AS. NOS.847/IB, 848/IB, 824/IB, 825/IB OF 2000-2001, 249/IB AND 277/IB OF 2003 versus I.T.AS. NOS.847/IB, 848/IB, 824/IB, 825/IB OF 2000-2001, 249/IB AND 277/IB OF 2003
Section 17 Federal International Accounting Standard No. IAS 18 Federal Investment Bonds First Appellate Authority on Securities has directed that interest income on federal investment bonds be taxed on a tax basis. In section 17 of the Income Tax Ordinance, 1979, though, Section 17 of the Income Tax Ordinance, 1979, has facilitated the taxation of interest income on the receipt of tax, The deduction is not allowed if interest income was to be taxed on federal investment bonds or other investment securities under section 17 of the Income Tax Ordinance 1979.
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