Income Tax Ordinance, 2001

CHAPTER-V

PROVISIONS GOVERNING PERSONS PART IV COMPANIES

Income Tax Ordinance, 2001 CHAPTER-V PROVISIONS GOVERNING PERSONS PART IV COMPANIES From: 2024-12-29 - To: 0000-00-00 (1) Where a resident individual (hereinafter referred to as the “transferor”) disposes of all the assets of a business of the transferor to a resident company, no gain or loss shall be taken to arise on the disposal if the following conditions are satisfied, namely:- (a) The consideration received by the transferor for the disposal is a share or shares in the company (other than redeemable shares). (b) the transferor must beneficially own all the issued shares in the company immediately after the disposal; (c) the company must undertake to discharge any liability in respect…