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 1[59AA. Group taxation.- (1) Holding companies and subsidiary companies of 100% owned group may opt to be taxed as one fiscal unit. In such cases, besides consolidated group accounts as required under the 2[Companies Act, 2017 (XIX of 2017)], computation of income and tax payable shall be made for tax purposes. (2) The companies in the group shall give irrevocable option for taxation under this section as one fiscal unit. (3) The group taxation shall be restricted to companies locally incorporated under the 2[Companies Act, 2017 (XIX of 2017)]. (4) The relief under group taxation would not be available to losses prior to the formation of the group. (5) The option of group taxation shall be available to those group companies which comply with such corporate governance requirements 3[and group designation rules or regulations] as…