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s. 72

Cessation of source of income

Common Rules

(a) any income is derived by a person in a tax year from any business, activity, investment or other source that has ceased either before the commencement of the year or during the year; and (b) if the income had been derived before the business, activity, investment or other source ceased it would have been chargeable to tax under this Ordinance, this Ordinance shall apply to the income on the basis that the business, activity, investment or other source had not ceased at the time the income was derived.
Amendment history (1)
  • The word “mid-exchange” omitted by the Finance Act, 2003.

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

Source FBR PDF page 140

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.