04-22-2010, 05:09 PM
Dear Lap Top read section 159 of Income Tax Ordinance with Rule 40 of Income Tax Rules,2002 and also see the application form for grant of exemption certificate provided in income tax rules in Part VII of First Shedule of Income Tax Rules,2002. You will find in the form mentioned that exemption may also be claimed on any proper reason. If the CIT is satisfied then the exemption may be granted by him. Read application form for exemption certificate (Which is also a part of IT Rules) carefully you will find your desired information.