Federal Board of Revenue (FBR) on Friday exempted income tax on donations made to Prime Minister’s Corona Relief Fund.
The FBR also granted exemption from minimum tax to the donations made towards the Prime Minister’s COVID-19 Pandemic Relief Fund – 2020.
The FBR also exempted the withholding tax deduction on non-cash banking transactions made by taxpayers not on the Active Taxpayers List (ATL) under Section 236P of the Income Tax Ordinance, 2001.
Further, Section 151, Section 231A and Section 231AA will also not apply to donations made to the Prime Minister Corona Relief Fund.
