Second Schedule: Part IV, CL (57), Sections 113, 120, 122 (5A) and 122 (9) of the Constitution of Pakistan, Article 25 CBR Circular No. 1, History of 2005 Exemption from Home Payments At least in tax revenue, it is claimed that a new company that meets the requirements of the law has immunity and the existing taxpayers who meet the requirements could not receive an exemption, In the present case, it was incorporated in 1992 and went through that period. In ten years when business activities were started. And the taxpayers (a large trading house) fulfilled all the requirements required under Part IV (57) of the Second Schedule to the Income Tax Ordinance 2001, but in the circumstances the exception to the minimum tax payment cannot be allowed. Was. Part IV of the Second Schedule of Income Tax Ordinance, 2001, was introduced under the Finance Act, 2005, as defined in the Circular No. 1 of 2005, 5 7 of 2005, excluding large business houses from property taxes. Was intended to do. In the case of large commercial houses, the exemption from the minimum tax payment was introduced under the Finance Act, 2006 and included a proposal that states that large commercial homes should be reduced. Less than one year has been exempted from taxation that occurred in the ten years prior to its inception. The tax year in which business operations started, which led to the dispute that such exemptions were meant only for new businesses and not for the old ones, except for the fact that they fulfilled all ends. Part IV of the Second Schedule to the Income Tax Ordinance 2001
