Taxation principles of companies

Taxation principles of companies

Section 94 of Income Tax Ordinance, 2001 has explained principles of taxation of companies.

The Federal Board of Revenue (FBR) issued the Income Tax Ordinance, 2001 updated up to June 30, 2021. The Ordinance incorporated amendments brought through Finance Act, 2021.

Following is the text of Section 94 of the Income Tax Ordinance, 2001:

94. Principles of taxation of companies.- (1) A company shall be liable to tax separately from its shareholders.

(2) A dividend paid by a company shall be taxable in accordance with Section 5.

(Disclaimer: The text of above section is only for information. Team PkRevenue.com makes all efforts to provide the correct version of the text. However, the team PkRevenue.com is not responsible for any error or omission.)

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