s. 242

Benefits of repealed provisions

Miscellaneous

Benefits of repealed provisions.— The existing beneficiaries of exemptions or concessionary provisions of the Ordinance, already expired or expiring, on thirtieth day of June, 2021 or repealed by Tax Laws (Second Amendment) Ordinance, 2021 shall continue to enjoy benefits of the repealed provisions for the periods prescribed therein and subject to conditions and limitations specified therein.

Amendment history (8)

(Amendment) Ordinance, 2010 and remained effective till 05.06.2010.Added by the Finance Act,
Inserted by the Finance Act, 2013.
The word “no” substituted by the Finance Act, 2002.
Sub-section (2) omitted by the Finance Act, 2010. The omitted sub-section (2)
Added by Finance Act 2017.
Re-numbered by the Finance Act, 2018.
Added by the Finance Act, 2018.
Section 242 added by the Finance Act, 2021. Earlier this amendment was made through Tax Laws

Amendment notes captured from the source page(s); they may include changes to neighbouring provisions.

Source FBR PDF page 501

Unofficial reference, compiled from the FBR’s consolidated Income Tax Ordinance 2001 (amended up to 30 June 2026). Provided for general information only — not an official FBR publication and not legal or tax advice. Always verify against the official FBR text before relying on it for filing or any decision.