Section 37: Exemption from tax. The income of a modaraba shall be exempt from tax under the — Modaraba Companies and Modaraba (Floatation and Control) Ordinance, 1980 · LawHub

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Current legal status not independently verified — Source: Pakistan Code (single official PDF, 2026-08-21). Whether this provision is still in force has not been independently verified.

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37. Exemption from tax. The income of a modaraba shall be exempt from tax under the Income Tax Ordinance, 1979 (XXXI of 1979) if not less than ninety per cent of its profits in a year is distributed to the holders of th Modaraba Certificates.

Effective date: 1980-01-01

Related sections

Section 36: Enforcement of provisions of the Ordinance, etc Section 38: Power of Federal Government to exempt, etc. The Federal Government may, by Section 35: Application of fine. The Tribunal imposing any fine under this Ordinance may direct that Section 39: Delegation of powers. The Registrar may, by notification in the official Gazette, delegate,Section 34: Powers of the Registrar in relation to certain proceedings. In any proceedings under Section 40: Indemnity. No suit, prosecution or other legal proceeding shall lie against the Federal

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