Income Tax Ordinance, 2001

CHAPTER-X

PROCEDURE PART IV COLLECTION AND RECOVERY OF TAX

Income Tax Ordinance, 2001 CHAPTER-X PROCEDURE PART IV COLLECTION AND RECOVERY OF TAX From: 2024-12-29 - To: 0000-00-00 139. Collection of tax in the case of private companies and associations of persons.- (1) Notwithstanding anything in the 1[Companies Act, 2017 (XIX of 2017)], where any tax payable by a private company (including a private company that has been wound up or gone into liquidation) in respect of any tax year cannot be recovered from the company, every person who was, at any time in that tax year - (a) a director of the company, other than an employed director; or (b) a shareholder in the company owning not less than ten per cent of the paid-up capital of the company, shall be jointly and severally liable for payment of the tax due by the company. (2) Any director who pays tax under sub-section (1) shall be entitled to recover the tax paid from the company or a share of the tax from any other director. (3) A shareholder who pays tax under sub-section (1) shall be entitled to recover the tax paid from the company or from any other shareholder to whom clause (b) of sub-section (1) applies in proportion to the shares owned by that other shareholder. (4) Notwithstanding anything in any law, where any tax payable by a member of an association of persons in respect of the member’s share of the income of the association in respect of any tax year cannot be recovered from the member,…