APROPOS a news item headlined `PM paid no wealth tax in seven years`, appearing in Dawn on May 18, an ofHcial spokesperson has clarified that wealth tax is chargeable from the assessment year and shall not be charged from the assessment year onwards, which is 2001-02. However, wealth tax is payable in respect of all assessment years up to the assessment year i.e. 2000-01.

Since wealth tax is not chargeable with effect from assessment year 2001-02, therefore,taxunder the said sectionisnotpayableforany financial year commencing on or after July 1, 2000.