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41A. Procedure
for approval of a trust or welfare institution for purpose of clause (62) of the Second
Schedule.
(1) Submission of application.- (a) A trust or a welfare institution established in
Pakistan, requiring the approval of the Central Board of Revenue under clause (62) of the
Second Schedule to the Ordinance, shall make an application to the Board in Form I annexed
to this rule.
(b) The application shall be accompanied by-
(i) a copy of the constitution or memorandum and articles of association, rules,
regulations or bye-laws, as the case may be, specifying the aims and objects for which the
institution is established, duly attested by the authority with which the institution is
registered;
(ii) a certified copy of the Registered Trust Deed, in case of a Trust; or
(iii) a certified copy of the certificate of registration in the case of institutions
registered under the Societies Registration Act 1860, (XXI of 1860) or the Voluntary
Social Welfare Agencies (Registration and Control) Ordinance, 1961 (XLVI of 1961), or
under any other law relating to the registration of welfare institutions;
(iv) copies of the audited balance-sheets and the final accounts alongwith the auditors
reports for the three years immediately preceding the year in which the application is
made, certified to be true by the Chartered Accountant who audited the accounts;
(v) the names and addresses of the promoters, directors, trustees, office-bearers and
managers including the President, Secretary and the Treasurer of the institution, and
indicating clearly their family relationships, if any, with each other; and
(vi) a detailed report with regard to the performance of the institution for achieving its
aims and objects during the three income years preceding the application.
(2) Grant of approval.- (a) On receipt of an application for registration under
this rule, the Board may, subject to the requirements and conditions specified in sub-rule
(3) and after such enquiry as it may deem necessary, grant approval to the institution if:
(i) the institution has been formed for the purpose of establishing hospitals or providing
education or for community welfare;
(ii) it has operated and functioned in Pakistan, at national level for a period of not
less than three years;
(iii) that by virtue of its services it has acquired national recognition;
(iv) that its area of operation extends to whole of Pakistan;
(v) its books of accounts are maintained regularly and in accordance with the generally
accepted accounting principles and satisfactory arrangements exist for their inspection by
interested members of the public; and
(vi) it fulfils such other conditions as the Board may impose.
(b) The approval shall be notified in the Official Gazette;
(c) The approval shall be valid for the assessment year specified in the order of
approval. This approval may be renewed from year to year under sub-rule (4).
(3) Bar to grant of approval.- (a) Approval shall not be granted to an institution
if the Board is satisfied that-
(i) any of the requirements or conditions specified in sub-rules (1) and (2) have not been
fulfilled; or
(ii) the area of its operations or functions does not or may not extend to the whole of
Pakistan; or
(iii) has been or is being used or is likely to be used for personal gains of any
particular person or a group of persons; or
(iv) has been or is likely to be used for propagating the views of a particular political
party or a religious sect; or
(v) has not or will not be able to achieve its declared aims and objects; or
(vi) the constitution, memorandum or articles of association, rules, regulations or
bye-laws, or the trust deed, as the case may be, specifying the aims and objects of the
institution do not provide-
(i) for audit of the accounts of the institution, every year by a reputed firm of
Chartered Accountants;
(ii) for the transfer of all assets, in the event of its dissolution, after meeting all
liabilities, if any, to an institution approved under this rule, within three months of
the dissolution, under intimation to the Board;
(iii) for the regular maintenance of books of accounts in accordance with the generally
accepted accounting principles and for their inspection by the interested members of the
public, without any hindrance, at all reasonable times;
(iv) for the utilization of its money, property or income or any part thereof, solely for
promoting the objects specified sub-rule (2)(a)(i);
(v) for maintenance of the bank accounts of the institution with a Scheduled Bank;
(vi) prohibiting the making of any changes in the constitution, memorandum or articles of
association, rules, regulations, or by-laws or the trust deed without the prior approval
of the Board; and
(vii) for restricting the moneys validly set apart or not utilized to twenty- five per
cent of the income unless otherwise authorized by the Board and for the investment of all
funds in excess of the said limit, in Government securities or NIT Units.
(4) Renewal of approval.- (a) The approval granted under sub-rule (2) may be
renewed if an application is made by institution in Form II annexed to this rule, within
three months of the expiry of the validity of the approval last granted and such
application is accompanied by such documents and instruments as are specified in clause
(b) rule and the Board is satisfied, after such enquiry as it may consider necessary, that
a genuine institution existed in the preceding year that complied with at all times, all
the provisions of this rule and did not suffer any one or more of the requirements or
conditions or disqualifications specified in this rule;
(b) An institution seeking approval shall, furnish, alongwith the renewal application, the
following documents and particulars:
(i) a copy of the return of income filed for the immediately preceding assessment year and
the assessment order, if any;
2. The ..............was approved by Board vide Notification No ...........dated
................(Name of Institution).
3. It is hereby certified that...........
(a) the Constitution/Trust Deed/Rules and Regulations/Memorandum and Articles of
Association, previously filed with the Central Board of Revenue, have remained unchanged:
(b) the disqualifications mentioned in the sub-rule (3) of rule 41A, do not apply in the
case of the institution; and
(c) the institution has fully complied with the provisions of sub-rule (4) of rule 41A.
4. The annual report of the institutions performance/activities in the immediately
preceding years is enclosed.
5. It is further certified that the information given above and in the attached schedule
is correct.
Signature ............................
Address .............................
Designation ........................
Note.- In the schedule attached to the application the following information is to be
submitted:
(a) a copy of the statement of the audited accounts and the auditors reports;
(b) a statement of income and donations received and moneys paid;
(c) a list Of the donee and beneficiaries, with full address;
(d) a statement showing the money set apart or kept unutilized with reasons thereof; and
(e) names and address of all trustees, directors, offices bearers and managers.
42. Conditions and procedures for approval of newly established
industrial undertaking under section 48(2)(b).- (1) A Pakistani company desiring that
an industrial undertaking owned and managed by it may be approved under clause (b) of
sub-section (2) of section 48 for the purposes of tax exemption under the said section
shall make an application to the Board in duplicate setting out the following particulars,
namely:-
PARTICULARS
(1) The name of the company, etc.
(2) The location of its registered office.
(3) Date of incorporation of the company.
(4) Whether the approval of the Controller of Capital Issues has been obtained to the
issue of the capital and if so, the amount of capital permitted to be issued.
(5) Authorised share capital of the company and the classes of share and their value.
(6) The amount of share-capital of the company and the classes of share and their value.
(7) The name of the undertaking.
(8) The location of the industrial undertaking and if the undertaking has not yet been set
up, the place where it is intended to be set up.
(9) The exact nature of the business of the undertaking.
(10) Date of commencement of commercial production.
(11) Whether the undertaking involves/will involve the use of:-
(i) electric energy; or
(ii) a form of energy which is mechanically transmitted and is not generated by human or
animal agency; or
(iii) any other form of energy.
(12) If the business has already commenced, the number of employees engaged in the
undertaking.
(13) If the business has not commenced, the minimum number of employees expected to be
engaged.
(14) Basis of claim for exemption.
(2) The application referred to in sub-rule (1) shall be signed by the Principal Officer
of the company and shall be accompanied by the documents specified in sub-rule (3) of rule
36.
(3) On receipt of the application referred to in sub-rule (1), the Board may make such
enquiries and call for such further information as may be deemed necessary.
(4) If the Board is satisfied that the undertaking is one which should be approved for the
purposes of this rule, it shall issue a notification to that effect in the Official
Gazette and send a copy thereof to the company.
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