Section 108 of Income Tax Ordinance, 2001 deals with income and deduction for tax in respect of any transaction between associates. 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 108 of the … Continue reading Taxation of income on transactions between associates