INCOME TAX MANUAL

PART I

INCOME TAX ORDINANCE, 2001

PART IV

EXEMPTION FROM SPECIFIC PROVISIONS

Income, or classes of income, or persons or classes of persons, enumerated below, shall be exempt from the operation of such provisions of this Ordinance, subject to such conditions and to the extent, as are specified hereunder:-

(46AA) The provisions of section 153 shall not apply to the following persons as

recipients of payment, namely:—

(iv) subject to fulfillment of procedure laid down in clause (12) of Part IV of Second Schedule, persons receiving payments exclusively for the supply of agriculture produce including following— 

  (I) fresh milk;

  (II) fish by any person engaged in fish farming;

  (III) live chicken, birds and eggs by any person engaged in poultry farming;

  (IV) live animals by any person engaged in cattle farming;

  (V) unpackaged meat; and

Provided that this clause shall not apply to the payments for agriculture produce which has been subjected to any process other than that which is ordinarily performed to render such produce to be fit to be taken to the market.”; and

Sources:

46AA, (iv) of Part IV, of the Income Tax Ordinance 2001 amended upto 30^th June 2021

https://download1.fbr.gov.pk/Docs/20217141672549772IncomeTaxOrdinanceAmendedupto30.06.2021.pdf