FIN623 Assignment # 1

"LEGAL STATUS"
Question:
Identify the legal status of the following persons according to the Income Tax Ordinance 2001;
a. Virtual University of Pakistan
ANS: Company
b. Bank Al-Falah Ltd.
ANS: Banking Company
c. WAPDA Town Employees Housing Society
ANS: Company
d. Mr. Akhter Ali Sheikh serving as a Manager in Chenab Textile Mills
ANS: Individual
e. Mrs. Batool serving as a Director in ABC Private Ltd. Company
ANS: Individual
f. Haji Murad Trust Eye Hospital
ANS: Company
g. Ali Ibrahim’s an unregistered firm of Mr. Ali Ahmad and Mr. Ibrahim Butt.
ANS: Firm
h. Mr. Vikaas Bhalla (a Hindu), his sons and Mr. Veer and Mr. Raj
ANS: Hindu Undivided Family
i. Ansaar Barni Welfare Trust
ANS: Company
j. Askari Islamic Bank Ltd.
ANS: Banking Company