Income Tax Ordinance, 2001

CHAPTER-III

TAX ON TAXABLE INCOME PART X TAX CREDITS

Income Tax Ordinance, 2001 CHAPTER-III TAX ON TAXABLE INCOME PART X TAX CREDITS From: 2024-12-29 - To: 0000-00-00 1[65G. Tax credit for specified industrial undertakings.- (1) When making certain eligible capital investments as specified in sub-section (2), the eligible taxpayers defined in sub-section (3) shall be allowed to take an investment tax credit of twenty five percent of the eligible investment amount, against tax payable under the provisions of this Ordinance including minimum and final taxes. The tax credit not fully adjusted during the year of investment shall be carried forward to the subsequent tax year subject to the condition that it may be carried forward for a period not exceeding two years. (2) For the purposes of this section, the eligible investment means investment made in purchase and installation of new machinery, buildings, equipment, hardware and software, except self-created software and used capital goods. (3) For the purpose of this section, eligible person means- (a) green field industrial undertaking as defined in clause (27A) of section 2 engaged in- (i) the manufacture of goods or materials or the subjection of…