Determine legal status (as per Sec.

80 of the Income Tax Ordinance 2001) of the concerns involved in the following cases:

a)

Amjad and Akram being the co-owner of an inherited property worth Rs. 10 million are earning annual rental income of Rs. 1.20 million for the last three years.

Ans: Association of persons Mr. Kartadhrta head of a Hindu family living in Lahore has decided to close down his business owing to continual losses.

b)

Ans: Hindu Undivided Family The British Council Pakistan - a UKs international organization working for educational opportunities and cultural relations across the Globe.

b)

Ans: Company

d) Pakistan Institute of Public Finance Accountants (PIPFA)

Ans: Company