Text of ITO Section 100

Special provisions relating to the production of oil and natural gas, and exploration and extraction of other mineral deposits. —

(1) Subject to sub-section (2), the profits and gains from —
(a) the exploration and production of petroleum including natural gas and from refineries set up at the Dhodak and Bobi fields;
(b) the pipeline operations of exploration and production companies; or
(c) the manufacture and sale of liquefied petroleum gas or compressed natural gas,
and the tax payable thereon shall be computed in accordance with the rules in Part I of the Fifth Schedule.

(2) Sub-section (1) shall not apply to the profits and gains attributable to the production of petroleum, including natural gas, discovered before the 24th day of September, 1954
[Provided that for the tax year 2017 and onward, the provisions of this sub-section shall not apply on profits and gains derived from the Sui gas field.]

(3) The profits and gains of any business which consists of, or includes, the exploration and extraction of such mineral deposits of a wasting nature (not being petroleum or natural gas) as may be specified in this behalf by the Board with the approval of the Minister-in-charge, carried on by a person in Pakistan, shall be computed in accordance with the rules in Part II of the Fifth Schedule.