Find a Lawyer

MALIK MUHAMMAD INAM versus FEDERATION OF PAKISTAN

Circular numbers of Sections 2 (6), 15 (a), 16 (2) (a) (iii) (c) (i), 50 and Second Schedule CL 17, 17 (AA) and 77 Central Board of Revenue Circ 15 1997 (Income Tax), dated 6 11 1997 Introduction of Golden Hand Shake Scheme to Employees of Banks and Financial Institutions When Voluntary Payments to Employees for a Retirement / Loss of Compensation at One Time Provides the option of taking retirement at. 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 Second Schedule, Income Tax Ordinance 1979, Circular No. 15 of CBR 1997 (Income Tax) dated 6 1997 1997 Taxes on such payments advocate for immigration from Lalamusa lawyer