Income Tax Ordinance, 2001

Chapter- IV

HEAD OF INCOME: INCOME FROM OTHER SOURCES

 

39(3)           Subject to sub-section (4), any amount received as a loan, advance, deposit 12[for issuance of shares] or gift by a person in [1][a tax year]from another person (not being a banking company or financial institution) otherwise than by a crossed cheque drawn on a bank or through a banking channel 3 or through digital means as defined in section 2 from a person holding a National Tax Number [2][ ] shall be treated as income chargeable to tax under the head “Income from Other Sources” for the tax year in which it was received.

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