Presently, the computation of income tax
of salaried people is governed by Sections 12, 13 and 14 of Income Tax Ordinance 2001, read with rules 3 to 7 of the Income Tax Rules 2002.
This is in contrast to the computation of income tax
before credits (see above) in which special tax computations such as those involved on Form 8615, Schedule D and qualified dividends are taken into account.
In addition, in the fourth quarter 2000, GPU revised its computation of income tax
benefits related to the second quarter sale of GPU PowerNet, resulting in additional tax benefits (income) of $18.