Examples of Income Tax Ordinance in a sentence
Notwithstanding the tax rate as per applicable Tax Laws of Pakistan, income from the Fund will be exempted from tax if not less than 90% of the income for the year as reduced by capital gains is distributed amongst the Unit Holders as cash dividend.This includes only cash dividend as consequent to amendments in Income Tax Ordinance, 2001 through Finance Act, 2014 for the purpose of determining distribution through bonus shares, units, certificates, as the case may be, shall not be taken into account.
Line 12 – Subchapter S Corporation DistributionsEnter on line 12, column B, cash or property distributions from S corporations (Schedule K-1 (1120), Part III, line 16, code D.) The Battle Creek Income Tax Ordinance does not recognize Subchapter S status.
The following is a brief description of the Income Tax Ordinance, 2001, applicable in respect of Unit Holder under the Fund.
Attach the duplicate to your city income tax return.NameSocial Security NumberAddress (Street number and name)Mark type of return to be filed Form L-1040Form L-1120 or L-1120S Form L-1065City, State & Zip Code Reason for extension request The City Income Tax Ordinance limits the extension of time for filing annual returns to SIX months from the original due date.
Capital gains derived from the sale of listed securities are not liable to income tax pursuant to Clause(110) of Part 1 of the Second Schedule of the Income Tax Ordinance, 2001.