07-18-2011, 05:33 PM
Student of law, i think you are right as i have gone through 103 and following sub sections;
Sec 103(2) For the purposes of clause (b) of sub-section (1), the Pakistan tax
payable in respect of foreign source income derived by a taxpayer in a tax year
shall be computed by applying the average rate of Pakistan income tax
applicable to the taxpayer for the year against the taxpayers net foreign-source
income for the year.
#8213;average rate of Pakistan income tax#8214; in relation to a taxpayer for a
tax year, means the percentage that the Pakistani income tax (before
allowance of the tax credit under this section) is of the taxable
income of the taxpayer for the year;
*
Sec 103(2) For the purposes of clause (b) of sub-section (1), the Pakistan tax
payable in respect of foreign source income derived by a taxpayer in a tax year
shall be computed by applying the average rate of Pakistan income tax
applicable to the taxpayer for the year against the taxpayers net foreign-source
income for the year.
#8213;average rate of Pakistan income tax#8214; in relation to a taxpayer for a
tax year, means the percentage that the Pakistani income tax (before
allowance of the tax credit under this section) is of the taxable
income of the taxpayer for the year;
*
