CAF-2 · Chapter 4 · Question 1 of 15
ABC Ltd. shifted its tax year from the normal tax year (ending June 30, 2026) to a special tax year ending September 30. What is the period from July 1, 2026, to September 30, 2026, called under the Income Tax Ordinance, 2001?
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: C) C) Transitional tax year
Explanation
Where the tax year of a person changes as a result of an order by the Commissioner, the period between the end of the last tax year prior to change and the date on which the changed tax year commences shall be treated as a transitional tax year.
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