Lahore 22°C
Income of joint owners
(1) For the purposes of this Ordinance and subject to sub-section (2), where any property is owned by two or more persons and their respective shares are definite and ascertainable –
(a) the persons shall not be assessed as an association of persons in respect of the property; and (b) the share of each person in the income from the property for a tax year shall be taken into account in the computation of the person’s taxable income for that year.
(2) This section shall not apply in computing income chargeable under the head Income from Business.
(a) the persons shall not be assessed as an association of persons in respect of the property; and (b) the share of each person in the income from the property for a tax year shall be taken into account in the computation of the person’s taxable income for that year.
(2) This section shall not apply in computing income chargeable under the head Income from Business.
Amendment history (6)
- Substituted by the Finance Act, 2016.
- Inserted by the Finance Act, 2002.
- The words “Central Board of Revenue” substituted by the Finance Act, 2007.
- The figure “232” substituted by the Finance Act, 2002.
- Inserted by the Finance Act, 2016.
- Inserted by the Finance Act, 2003.
Amendment notes captured from the source page(s); they may include changes to neighbouring provisions.
Source FBR PDF page 138
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.