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s. 112

Liability in respect of certain security transactions

Anti-Avoidance

(1) Where the owner of any security disposes of the security and thereafter re-acquires the security and the result of the transaction is that any income payable in respect of the security is receivable by any person other than the owner, the income shall be treated, for all purposes of the Ordinance, as the income of the owner and not of the other person.
(2) In this section, security includes bonds, certificates, debentures, stocks and shares. MINIMUM TAX
Amendment history (14)
  • The words “Central Board of Revenue” substituted by the Finance Act, 2007.
  • The figure “232” substituted by the Finance Act, 2002.
  • Added by the Finance Act, 2021.
  • The explanation substituted by the Finance Act, 2022. The substituted Explanation
  • Inserted by the Finance Act, 2003.
  • Inserted by the Finance Act, 2009.
  • The expressions inserted through Finance Act, 2020 dated 30 June, 2020
  • Inserted by the Finance Act, 2010.
  • The word “fifty” substituted by the Finance Act, 2016.
  • The word “ten” substituted by the Finance Act, 2021.
  • The figure “2009” substituted by the Finance Act, 2016
  • The figure “2007” substituted by the Finance Act, 2016
  • The word “one-half” substituted by the Finance Act, 2013.
  • The word “one per cent” substituted by the Finance Act, 2017.

Amendment notes captured from the source page(s); they may include changes to neighbouring provisions.

Source FBR PDF page 214

Unofficial reference, compiled from the FBR’s consolidated Income Tax Ordinance 2001 (amended up to 30 June 2026). Provided for general information only — not an official FBR publication and not legal or tax advice. Always verify against the official FBR text before relying on it for filing or any decision.