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 - (1) “accumulated profits” in relation to 1[distribution or payment of] a dividend, 2[include] - (a) any reserve made up wholly or partly of any allowance, deduction, or exemption admissible under this Ordinance; (b) for the purposes of 3[sub-clauses (a), (b) and (e) of clause (19)”] all profits of the company including income and gains of a trust up to the date of such distribution or such payment, as the case may be; and (c) for the purposes of 4[sub-clause (c) of clause (19)], includes all profits of the company including income and gains of a trust up to the date of its liquidation; _______________________________________ 1-Inserted vide the Finance Act, 2003 (I of 2003) 2-The word “includes” substituted vide the Finance Act, 2005 (VII of 2005) From: 2005-07-01 - To: 0000-00-00 2. Definitions.- In this Ordinance, unless there is anything repugnant in the subject or context: 1[(1) accumulated profits in relation to distribution or payment of a dividend, include- (a) any reserve made up wholly or partly of any allowance, deduction, or exemption admissible under this Ordinance; (b) for the purposes of sub-clauses (a), (d) and (e) of clause (19), all profits of the company including income and gains of a trust up to the date of such distribution or such payment, as the case may be; and (c) for the purposes of sub-clause (c) of clause (19), includes all profits of the company including income and gains of a trust up to the date of its liquidation;] ______________________________________________________________________________________ 1-In clause (1), for the word includes the word include was substituted vide Finance Act, 2005. From: 2003-06-17 - To: 0000-00-00 2. Definitions.- In this Ordinance, unless there is anything repugnant in the subject or context: (1) accumulated profits in relation to distribution or payment of a dividend, includes- (a) any reserve made up wholly or partly of any allowance, deduction, or exemption admissible under this Ordinance; (b) for the purposes of sub-clauses (a), (d) and (e) of clause (19), all…