ISLAMABAD: The Federal Board of Revenue (FBR) has proposed to grant exemption to armed forces personnel on two allowances through the finance bill for the fiscal year 2019-20, the budget document showed. The various allowances being given to armed forces personnel i.e., internal security allowance and compensation in lieu of bearer allowance, are being exempted from income tax through the Finance Bill 2019-20. The income tax exemptions available on perks and privileges of other powerful individuals such as president, ministers, governors, superior court judges and others will continue in the next fiscal year 2019-20, the document said.
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