Wednesday, December 12, 2018

EXEMPTIONS AND TAX CONCESSIONS

Following Income are exempt from tax

- Agriculture Income
- Diplomatic and UN exemptions
- Exemption under International Agreement
-Presidents honor
-Profit on debt ( Certain Conditions)
-Scholarships
- Support payment under agreement to live apart
-Government Income
-Foreign Source Income of Short Term Resident Individual
- Foreign Source Income of Returning Expatriates
-Exemption and Tax Concession in II Schedule
-Exemptions and tax provisions in in other Laws

Those all income are exempt from tax subject to certain conditions.

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