Learn Pakistani Income Tax Law in 3 day (1)

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Session 1/3 Day 1. Audio Commentary by Anthony Williams (FPFA,LLB). For 1 on 1 discussion call +92-321-4409009, 0321-4409009, 92-42-35925972.

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Learn Pakistani Income Tax Law in 3 day (1)

  1. 1. Person Definition
  2. 2.  Person.-  The following shall be treated  as persons  for the purposes of this Ordinance,  namely:–
  3. 3.  An individual;  a company  or  association of persons
  4. 4.  the Federal Government,  a foreign government,  a political subdivision of a foreign government,  or  public international organization.
  5. 5.  “association of persons”  includes  a firm,  a Hindu undivided family,  any artificial juridical person and  any body of persons formed under a foreign law,  but does not include a company;
  6. 6.  “company” means –  a company as defined in the Companies Ordinance, 1984 (XLVII of 1984);  a body corporate formed by or under any law in force in Pakistan;
  7. 7.  modaraba;  a body incorporated by or under the law of a country outside Pakistan relating to incorporation of companies;  a trust,  a co-operative society or  a finance society or  any other society established or constituted by or under any law for the time being in force
  8. 8.  a foreign association, whether incorporated or not, which the Board has, by general or special order, declared to be a company for the purposes of this Ordinance;  a Provincial Government;
  9. 9.  a local authority in Pakistan;  or  a Small Company
  10. 10.  “firm”  means  the relation between persons  who have agreed to share the profits  of a business  carried on by all or  any of them  acting for all;
  11. 11. Will the examiner ask Questions about company  Please see Q5 (b) March 8, 2008

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