The original Section 103C states, 'dividend income derived by a company, if the recipient of the dividend, for the tax year has availed group relief
under Section 59B'.
Government has exempted such dividend derived by a company if the company avails group relief
according to the proportion of shareholding of the company.
It exempts such dividend derived by a company if it avails group relief
according to its proportion of shareholding.
LAHORE -- Pakistan Chemical Manufacturers Association (PCMA) on Tuesday demanded restoration of Section 59B along with clause (103A) of the Income Tax Ordinance, 2001 regarding group relief
in final approval of budget for encouragement of corporatization in the country.
e sale of another UK-based Nike Inc a"liate thought to be loss-making sports brand Umbro prompted changes in the rm's UK tax group and meant no group relief
for taxable prots during the nancial year.
Cochrane said separation would also end the practice of "group relief
", where firms offset losses made in some parts of the UK with profits made in another.
It also covers self-assessment, trading profits, loan relationships, loss relief, intangible fixed assets, group relief
and group chargeable gains.
It has nothing left now but international pressure, foreign military intervention or economical and political pressures by foreign parties, which will not bear their fruits or bring the group relief
before seeing its leaders in prison, its youth going astray, its present drifting in the wind and its future unknown.
909 in cases involving disregarded payments, group relief
, or other similar arrangements.
The Patent Box regime will also benefit UK businesses which currently shelter UK taxable profits through use of brought forward losses, group relief
or other reliefs.
It may be recalled that in the Finance Act 2007, the government had allowed the concept of group relief
for the first time in Pakistan and that law was widely hailed by international experts as the most progressive in the region.