ITO Section 80

Person.

(1) The following shall be treated as persons for the purposes of this Ordinance, namely: 

• (a) An individual;
• (b) a company or association of persons incorporated, formed, organised or established in Pakistan or elsewhere;
• (c) the Federal Government, a foreign government, a political sub-Division of a foreign government, or public international organisation.

(2) For the purposes of this Ordinance —

• (a) “association of persons” includes a firm, a Hindu undivided family, any artificial juridical person and anybody of persons formed under a foreign law, but does not include a company;
• (b) “company” means —

(i) a company as defined in the  [Companies Act, 2017 (XIX of 2017)];

(ii) a body corporate formed by or under any law in force in Pakistan;

(iii) a modaraba;

(iv) a body incorporated by or under the law of a country outside Pakistan relating to incorporation of companies;

[(v) a co-operative society, a finance society or any other society;]

[(va) a non-profit organization;]

[(vb) a trust, an entity or a body of persons established or constituted by or under any law for the time being in force;]

(vi) 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;

(vii) a Provincial Government; 

(viii) a  [Local Government] in Pakistan;  [or] 

[(ix) a Small Company as defined in section 2;]

• (c) “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;
• (d) “trust” means an obligation annexed to the ownership of property and arising out of the confidence reposed in and accepted by the owner, or declared and accepted by the owner for the benefit of another, or of another and the owner, and includes a unit trust; and
• (e) “unit trust” means any trust under which beneficial interests are divided into units such that the entitlements of the beneficiaries to income or capital are determined by the number of units held.