Clear Lahore 22°C Clear Karachi 24°C Clear Islamabad 17°C

← All sections

s. 56A

Set off of losses of companies operating hotels

Tax On Taxable Income

Set off of losses of companies operating hotels.— Subject to sections 56 and 57, where a public company as defined in the Companies Act, 2017 and registered in Pakistan ,Gilgit-Baltistan or Azad Jammu and Kashmir (AJ&K), operating hotels in Pakistan ,Gilgit-Baltistan or AJ&K, sustains a loss in Pakistan ,Gilgit-Baltistan or AJ&K for any tax year under the head income from business shall be entitled to have the amount of the loss set off against the company’s income in Pakistan ,Gilgit-Baltistan or AJ&K, as the case may be, from the tax year 2007 onward .
Amendment history (8)
  • Inserted by the Finance Act, 2013.
  • The words “or income from property” omitted by the Finance Act, 2021.
  • Full stop substituted with a colon and thereafter a new proviso added by the Finance Act, 2025.
  • Inserted by the Finance Act, 2002
  • Inserted by the Finance Act, 2007.
  • The word “company” substituted by the Finance Act, 2019.
  • After word “Pakistan” the expression “, Gilgit-Baltistan” inserted by the Finance Act, 2019.
  • The word “onward” substituted by the word “onward” by the Finance Act, 2014.

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

Source FBR PDF page 109

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.