Income Tax Ordinance, 2001

CHAPTER-V

PROVISIONS GOVERNING PERSONS PART III ASSOCIATIONS OF PERSONS

Income Tax Ordinance, 2001 CHAPTER-V PROVISIONS GOVERNING PERSONS PART III ASSOCIATIONS OF PERSONS From: 2024-12-29 - To: 0000-00-00 1[***] _________________________________________ 1-Section (93) omitted vide the FTaxation of members of an association of persons.inance Act, 2007 (IV of 2007 assented on 30th June, 2007) “93. Taxation of members of an association of persons-(1) Where sub-section (3) of section 92 applies, the income of a member of an association of persons chargeable under the head “Income from Business for a tax year shall include” (a) in the case of a resident member, the member’s share in the total income of the association; or (b) in the case of a non-resident member, the member’s share in so much of the total income of the association as is attributable to Pakistani-source income. (2) Where an association of persons to which sub-section (3) of section 92 applies sustains a loss that cannot be set off against any other income of the association in accordance with section 56, the amount of the loss shall be apportioned among the members of the association according to their interest in the association and the members shall be entitled to have their share of the loss set off and carried forward for set off under Part VIII of Chapter III in computing their taxable income under this Ordinance. (3) The share of a loss referred to in…