Tag: Income Tax Ordinance 2001

The intricacies of individual taxation within the framework of an Association of Persons (AOP) are elucidated in Section 88 of the Income Tax Ordinance, 2001.

Section 87 of the Ordinance specifically addresses the taxation on the income of deceased individuals, outlining the responsibilities of their legal representatives.

Section 86, updated up to June 30, 2021, reinforces the principle of taxation on the income of individuals shall be determined separately, ensuring equitable treatment within the taxation framework.

Section 85, as updated up to June 30, 2021, by the Federal Board of Revenue (FBR), defines the conditions under which two persons are considered associates under tax law.

Section 84 of Income Tax Ordinance, 2001 defines the criteria that determine whether an association of persons qualifies as a resident association for taxation purposes.

Section 83 of the Income Tax Ordinance, 2001 lays out specific conditions that define a resident company during a tax year.

The Federal Board of Revenue (FBR) has shed light on the criteria for determining resident individuals for taxation under Section 82 of the Income Tax Ordinance, 2001.

Section 81 of the Income Tax Ordinance, 2001, delineates the criteria for classifying individuals and entities as either resident or non-resident persons for the purpose of tax obligations.

Section 80 of Income Tax Ordinance, 2001 has defined persons for the purpose of the ordinance. The Federal Board of Revenue (FBR) issued the Income Tax Ordinance, 2001 updated up to June 30, 2021.

Non-recognition of rules under income tax ordinance has been explained by the Federal Board of Revenue (FBR).