This revised and updated edition of Income Tax Laws of Pakistan covers all the amendments introduced in the Income Tax Ordinance, 2001 through the Finance Act, 2008. These amendments cover changes in various sections of the Ordinance and Schedules annexed to it. The First Schedule deals with the income tax rates and the Second Schedule deals with exemptions from income tax. A summary of withholding tax regime under the Income Tax Ordinance, 2001 is also included. Solved problems have been revised incorporating the changes made in the Income Tax Ordinance. This book covers graduate and undergraduate courses in commerce, business and public administration. It also serves as a textbook for professional courses offered by the Institute of Chartered Accountantsof Pakistan (ICAP), Institute of Cost and Management Accountants of Pakistan (ICMAP) , Institute of Taxation Management (ITM), Institute of Bankers and the Institute of Chartered Secretaries.