Section 71: Currency conversion — Income Tax Ordinance, 2001

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71. Currency conversion.— (1) Every amount taken into account under this Ordinance shall be in Rupees. (2) Where an amount is in a currency other than rupees, the amount shall be converted to the Rupee at the State Bank of Pakistan 1[ ] rate applying between the foreign currency and the Rupee on the date the amount is taken into account for the purposes of this Ordinance.

Effective date: 2001-09-13

Related sections

Section 70: Recouped expenditure Section 72: Cessation of source of income Section 69: Receipt of income Section 73: Rules to prevent double derivation and double deductions Section 68: Fair market value Section 74: Tax year

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