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Accountancy Forum The Profession Tax v
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Is PM Relief Fund donation amount Exempted to Tax

 
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Is PM Relief Fund donation amount Exempted to Tax
mehfooz255416
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#1
11-16-2011, 03:38 AM
AOA
Is the amount contributed or donated in the following given below Institutions are exempted to Annual Income Tax.
1. Prime Minister Relief Fund.
2. Group Insurance.
3. Employees Old Age Benefit Institution (EOBI).
4. Workers Welfare Fund.

I need to find out the Answer of this because my Annual Income Tax has been deducted last year Included the amount which I had contributed or donated in the above mentioned 3 institutions. As far as my knowledge these are might be exempted to Tax...? Please reply me and clear the confusion.
student_of_law
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#2
11-16-2011, 11:15 PM
Contribution to EOBI & General insurance is not exempt

Contribution / donation to PM relief fund would reduce the taxable income by the amount donated under clause 61(xxxviii) of Second Schedule of the INcome Tax Ordinance, 2001. I think Clause 64C, is also relevant though it does not mention the words "amount donated to" like 64A & 64B
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