Income Tax Ordinance, 2001

CHAPTER-I

PRELIMINARY

From: 2023-07-01 - To: 0000-00-00 2. Definitions.- In this Ordinance, unless there is anything repugnant in the subject or context - (47) “public company” means - (a) a company in which not less than fifty per cent of the shares are held by the Federal Government 1[or Provincial Government]; 2[(ab) a company in which 3[not less than fifty per cent of the] shares are held by a foreign Government, or a foreign company owned by a foreign Government 4[;]] (b) a company whose shares were traded on a registered stock exchange in Pakistan at any time in the tax year and which remained listed on that exchange 5[****] at the end of that year; or 6[(c) a unit trust whose units are widely available to the public and any other trust as defined in the Trusts Act, 1882 (II of 1882);] __________________________________________________________________________ 1-The words were added vide the Finance Act, 2003 (I of 2003 assented on 16th June, 2003) 2-Inserted vide the Finance Act, 2003 (I of 2003 assented on 16th June, 2003) 3-Inserted vide the Finance Act, 2005 (VII of 2005 assented on 16th June, 2005) 4-The full stop was substituted vides the Finance Act, 2005 (VII of 2005 assented on 16th June, 2005) 5-The words “and was on the Central Depository System,” were omitted vide the Finance Act, 2002 (XXVII of 2002 promulgated on 15th June, 2002) 6-Substituted vide the Finance Act, 2003 (I of 2003 assented on 16th June, 2003). At the time of substitution Sub-clause “(c)” was as under:- “(c) a unit trust whose units are widely available to the public and any other public trust;” From: 2005-07-01 - To: 2023-06-30 2. Definitions.- In this Ordinance, unless there is anything repugnant in the subject or context - (47) public company means (a) a company in which not less than fifty per cent of the shares are held by the Federal Government or Provincial Government; (ab) a company in which not less than fifty per cent of the shares are held by a foreign Government, or a foreign company owned by a foreign Government; (b) a company whose shares were traded on a registered stock exchange in Pakistan at any time in the tax year and which remained listed on that…