Income Tax Ordinance, 2001

CHAPTER-XII

TRANSITIONAL ADVANCE TAX PROVISIONS

From: 2023-07-01 - To: 0000-00-00 1[***] ________________________________________________________ 1-Omitted vide Finance Act, 2018, (XXX of 2018) assented on 22nd May, 2018. At the time of omission section 236N was as under:- 236N. Bonus shares issued by companies not quoted on stock exchange.- (1) Notwithstanding anything contained in any law for the time being in force, every company, not quoted on stock exchange, issuing bonus shares to the shareholders of the company, shall deposit tax, within fifteen days of the closure of books, at the rate of five per cent of the value of the bonus shares on the first day of closure of books, whether or not tax has been collected by the company under sub-section (3). (2) Issuance of bonus shares shall be deemed to be the income of the shareholder and tax deposited under sub-section (1) shall be treated to have been deposited on behalf of the shareholder. (3) A…