ITO Section 242 | Benefits of Repealed Provisions.

Text of ITO Section 242

Benefits of Repealed Provisions.

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or concessionary provisions of the Ordinance, already expired or expiring on the thirtieth day of June, 2021, or repealed by the Tax Laws Amendment) Ordinance, 2021 shall continue to enjoy benefits of the repealed provisions for the periods prescribed therein and subject to conditions and limitations specified therein,

Explanation of ITO Section 242

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حَسْبِيَ اللَّهُ لاَ إِلَهَ إِلاَّ هُوَ عَلَيْهِ تَوَكَّلْتُ وَهُوَ رَبُّ الْعَرْشِ الْعَظِيمِ

“Allah is sufficient for me. There is none worthy of worship but Him. I have placed my trust in Him. He is the Lord of the Majestic throne.”