ITO Section 94 | Principles of taxation of companies.-

Text of ITO Section 94

Principles of taxation of companies.-

(1) A company shall be liable to tax separately from its shareholders.

(2) A dividend paid by a  company shall be taxable in accordance with Section 5.

 

Explanation of ITO Section 94

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

“Allah is sufficient for me. There is none worthy of worship but Him. I have placed my trust in Him. He is the Lord of the Majestic throne.”