Income Tax Ordinance, 2001

CHAPTER-III

TAX ON TAXABLE INCOME PART X TAX CREDITS

From: 2023-07-01 - To: 0000-00-00 1[***] _________________________________________ 1- Section “65C” omitted by by Finance Act, 2021, dated 30-06-2021. Earlier same Section “65C” omitted by Tax Law (Second Amendments) Ordinance, 2021, dated 22-03-2021. Before omission read as: 65C. Tax credit for enlistment.- (1) Where a taxpayer being a company opts for enlistment in any registered stock exchange in Pakistan 2[on or before the 30th day of June, 2022], a tax credit equal to 3[Twenty] per cent of the tax payable shall be allowed for the tax year in which the said company is enlisted 4[and for the following 5[three tax years:]].] 6[Provided that the tax credit for the last two years shall be ten per cent of the tax payable.] 1-Added by the Finance Act, 2010 (XVI of 2010) 2-The expression inserted by Finance Act, 2020, dated 30-06-2020 3-Substituted for the word “fifteen” vide Finance Act, 2015. Earlier it was Substituted for the word “five” vide Finance Act, 2011 4-Added vide the Finance Act, 2016 (XXIX of 2016) 5-Substituted for “tax year.” vide the Finance Act, 2017 (XXVII of 2017) assented on 19th June, 2017 6-Added vide the Finance Act, 2017 (XXVII of 2017) assented on 19th June, 2017 From: 2022-07-01 - To: 2023-06-30 1[***] _________________________________________ 1- Section “65C” omitted by by Finance Act, 2021, dated 30-06-2021. Earlier same Section “65C” omitted by Tax Law (Second Amendments) Ordinance, 2021, dated 22-03-2021. Before omission read as: 65C. Tax credit for enlistment.- (1) Where a taxpayer being a company opts for enlistment in any registered stock exchange in Pakistan 2[on or before the 30th day of June, 2022], a tax credit equal to 3[Twenty] per cent of the tax payable shall be allowed for the tax year in which the said company is enlisted 4[and for the following 5[three tax years:]].] 6[Provided that the tax credit for the last two years shall be ten per cent of the tax payable.] 1-Added by the Finance Act, 2010 (XVI of 2010) 2-The expression inserted by Finance Act, 2020, dated 30-06-2020 3-Substituted for the word “fifteen” vide Finance Act, 2015. Earlier it was Substituted for the word “five” vide Finance Act, 2011 4-Added vide the…