Income Tax Ordinance, 2001

CHAPTER-III

TAX ON TAXABLE INCOME PART VI HEAD OF INCOME: INCOME FROM OTHER SOURCES

From: 2023-07-01 - To: 0000-00-00 39. Income from other sources.- (1) Income of every kind received by a person in a tax year, 1[if it is not included in any other head,] other than income exempt from tax under this Ordinance, shall be chargeable to tax in that year under the head “Income from Other Sources”, including the following namely:- (a) 2[Dividend;] (b) 3[royalty;] (c) profit on debt; 4[(cc) additional payment on delayed refund under any tax law;] (d) ground rent; (e) rent from the sub-lease of land or a building; (f) income from the lease of any building together with plant or machinery; 5[(fa) income from provision of amenities, utilities or any other service connected with renting of building;] (g) any annuity or pension; (h) any prize bond, or winnings from a raffle, lottery 6[, prize on winning a quiz, prize offered by companies for promotion of sale] or cross-word puzzle; (i) any other amount received as consideration for the provision, use or exploitation of property, including from the grant of a right to explore for, or exploit, natural resources; (j) the fair market value of any benefit, whether convertible to money or not, received in connection with the provision, use or exploitation of property; 7[***] (k) any amount received by a person as consideration for vacating the possession of a building or part thereof, reduced by any amount paid by the person to acquire possession of such building or part thereof; 8[***] 9[(l) any amount received by a person from Approved Income Payment Plan or Approved Annuity Plan under Voluntary Pension System Rules, 2005 10[;11[***] 12[(la) subject to sub-section (3), any amount or fair market value of any property received without consideration or received as gift, other than gift received from 13[relative as defined in sub-section (5) of section 85]14[; and] 15[(lb) income arising to the shareholder of a company, from the issuance of bonus shares;] 16[***] (2) Where a person receives an amount referred to in clause (k) of sub-section (1), the amount shall be chargeable to tax under the head “Income from Other Sources” in the tax year in which it was received and the following nine tax years in equal…