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The Income-tax Ordinance, 1984

( Ordinance NO. XXXVI OF 1984 )

[ 4th June, 1984 ]

Chapter V

COMPUTATION OF INCOME

Capital gains
31. Tax shall be payable by an assessee under the head “Capital gains” in respect of any profits and gains arising from the transfer of a capital asset and such profits and gains shall be deemed to be the income of the income year in which the transfer took place. 1[***]
  • 1
    The full stop (.) was substituted for the colon (:) after the words "in which the transfer took place" and thereafter the proviso was ommitted by section 18 of the Finance Act, 2011 (Act No. XII of 2011) .
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