Income Tax Ordinance, 2001

CHAPTER-III

TAX ON TAXABLE INCOME PART X TAX CREDITS

From: 2023-07-01 - To: 0000-00-00 (1) Where a taxpayer being a company invests any amount in the purchase of plant and machinery, for the purposes of 2[extension, expansion,] balancing, modernization and replacement of the plant and machinery, already installed therein, in an industrial undertaking set up in Pakistan and owned by it, credit equal to ten per cent of the amount so invested shall be allowed against the tax payable 3[including on account of minimum tax and final taxes payable under any of the…