Income Tax Ordinance, 2001

CHAPTER-III

TAX ON TAXABLE INCOME PART VII EXEMPTIONS AND TAX CONCESSIONS

Income Tax Ordinance, 2001 CHAPTER-III TAX ON TAXABLE INCOME PART VII EXEMPTIONS AND TAX CONCESSIONS From: 2024-12-29 - To: 0000-00-00 58. Carry forward of speculation business losses.- (1) Where a person sustains a loss for a tax year in respect of a speculation business carried on by the person (hereinafter referred to as a “speculation loss”), the loss shall be set off only against the income of the person from any other speculation business of the person chargeable to tax for that year. (2) If a speculation loss sustained by a person for a tax year is not wholly set off under sub-section (1), then the amount of the loss…