Income Tax Ordinance, 2001

CHAPTER-V

PROVISIONS GOVERNING PERSONS PART I CENTRAL CONCEPTS Division III Associates

Income Tax Ordinance, 2001 CHAPTER-V PROVISIONS GOVERNING PERSONS PART I CENTRAL CONCEPTS Division III Associates From: 2024-12-29 - To: 0000-00-00 (3) Without limiting the generality of sub-section (1) and subject to sub-section (4), the following shall be treated as associates - (a) an individual and a relative of the individual; (b) members of an association of persons; (c) a member of an association of persons and the association, where the member, either alone or together with an associate or associates under another application of this section, controls fifty per cent or more of the rights to income or capital of the association; (d) a trust and any person who benefits or may benefit under the trust; (e) a shareholder in a company and the company, where the shareholder, either alone or together with an associate or associates under…