After the approval of the Income Tax Ordinance, 117 institutions including the Army Foundation, Army Welfare Trust, and Foundation University will be exempted from income tax, who will get an exemption?

The Finance Minister presented a bill to amend the Income Tax Ordinance in the House, which was approved, and bar councils will also be exempted

Parliamentary reporter Daily Dawn + Dawn TV report

Islamabad: The National Assembly has approved the Finance Bill and the Income Tax Ordinance clause-wise, under which 107 institutions have been exempted from income tax.

In the National Assembly session, Finance Minister Muhammad Aurangzeb approved the Finance Bill and the Income Tax Ordinance, while all the amendments of the opposition were rejected.

The amendment to the Income Tax Ordinance 2001 presented by the Finance Minister was approved, under which 107 institutions have been exempted from tax.

Income tax exemption has been granted to the Pakistan Bar Council, provincial bar councils, Fauji Foundation, Army Welfare Trust, and Foundation University.

Read more: Finance Bill 26-2025: Income Tax Ordinance regarding tax on salaried class approved

In addition, tax exemption has been granted to Shaukat Khanum, Edhi Foundation, Al-Shifa Trust, Shifa Trust Eye Hospital, Forman Christian College, LUMS, and Ghulam Ishaq Khan University.

Under the Income Tax Ordinance, tax exemption has been granted to the Poverty Alleviation Fund, National Rural Support Program, National Endowment Scholarship, FBR Foundation, Pakistan Agricultural Research Council, and Audit Oversight Board.

In addition, tax exemption has also been granted to the pensions of former presidents and their widows, and income tax exemption has also been granted to the Supreme Court, Diamer-Bhasha and Mohmand Dam Fund.