Q2

: Kaleem Limited (KL) is a listed company and its accounting year ends on 30 June. KL is now considering to change its accounting year from 30 June to 30 September. Under the provisions of the Income Tax Ordinance, 2001: (a) Briefly describe normal, special and transitional tax year. (b) State the requirements regarding change in tax year from normal to special. (c) State the tax year corresponding to the income year ended 30 September 20X8 and the due date for filing the return of income.