ITO Section 135B | Estate in bankruptcy

ITO Section 135B

Estate in bankruptcy

(1) If a taxpayer is declared bankrupt, the tax liability under this Ordinance shall pass on to the estate in bankruptcy.

(2) If tax liability is incurred by an estate in bankruptcy, the tax shall be deemed to be a current expenditure in the operations of the estate in bankruptcy and shall be paid before the claims preferred by other creditors are settled.]

Explanation of ITO Section 135B

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Detail of ITO Section 135B

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حَسْبِيَ اللَّهُ لاَ إِلَهَ إِلاَّ هُوَ عَلَيْهِ تَوَكَّلْتُ وَهُوَ رَبُّ الْعَرْشِ الْعَظِيمِ

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