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MALIK MUHAMMAD INAM AND OTHERS versus FEDERATION OF PAKISTAN

Circular number of Sections 2 (6), 15 (a), 16 (2) (a) (iii) (c) (i), 50 and Second Schedule CL 17, 17 (AA), 77 Central Board of Revenue Circ 15 1997 (Income tax), dated 6 11 1997 Introduction to banks' financial institutions and financial institutions Introduction to the Golden Handshake Scheme when giving employees the option to pay for premature retirement / loss as a form of compensation. Volunteer to retire upon payment of a large sum. Tax deduction by the employer for payment of the amount of employees to employees who are retiring under such scheme for employment or salary, while such scheme resulted in amending the terms and conditions of the retirement employees. I quit his job. Such payments to employees who voluntarily retire from service upon acceptance of compensation payments, if they are not covered or do not qualify for salary, are subject to Section 16 (2) (a). (iii) Salary shall be considered on the basis of the provisions of. And (2) (c) (i) the Income Tax Ordinance, 1979, as such, shall be bound to be taxed under section 15 (a), the provisions of which are created by the legislature to bring such payments / Legal fiction. In the sense of salary, each retiring employee will be treated as an "assistive" as described in Section 2 (6) of the Income Tax Ordinance, 1979, such payments cannot be treated as retirement / pension benefits, Which are exempt from tax under section 17, 17. (AA) and 77 of the Second Schedule, Income Tax Ordinance 1979 by Circular No. 15 of 1979, Income Tax Ordinance (Income Tax) in 1997 was paid as on 6 1997 us immigration advocates from Doaaba lawyer