Assalam o Alaikum,
Income of AOP to be divided among partners of AOP in accordance to their shares. My Question is whether Income should be (Before or After Tax on AOP). Please help, with reference. I have heard it is after Tax but dont know about the circular letter of FBR.
My Dear Friend!
Any income generated from AOP shall be distributed among the partners after deducting the applicable tax. It meance that no any income derived from AOP shal be distributed among the partners before deducting the applicable Tax.
Clear??
regards,
Umar
Dear Umer,
Thank you very much,
Yeah I got it,
Stay blesses & take care
<blockquote id="quote"><font size="1" face="Verdana, Arial, Helvetica, san" id="quote">quote<hr height="1" noshade id="quote"><i>Originally posted by umar_khi08@yahoo.com</i>
<br />My Dear Friend!
Any income generated from AOP shall be distributed among the partners after deducting the applicable tax. It meance that no any income derived from AOP shal be distributed among the partners before deducting the applicable Tax.
Clear??
regards,
Umar
<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">