Income Tax Ordinance, 2001

CHAPTER-VI

SPECIAL INDUSTRIES PART II OIL, NATURAL GAS AND OTHER MINERAL DEPOSITS

From: 2023-07-01 - To: 0000-00-00 1[100C. Tax credit for charitable organizations.- (1) The persons mentioned in sub-section (2) shall be allowed a tax credit equal to one hundred percent of tax payable under any of the provisions of this Ordinance including minimum and final taxes in respect of incomes mentioned in sub-section (3) subject to the conditions and limitations laid down in sub-section (4). (2) The provisions of this section shall apply to the following persons, namely:- (a) persons specified in Table - II of clause (66) of Part I of the Second Schedule to this Ordinance; (b) a trust administered under a scheme approved by the Federal Government and established in Pakistan exclusively for the purposes of carrying out such activities as are for the welfare of ex-employees and serving personnel of the Federal Government or a Provincial Government or armed forces including civilian employees of armed forces and their dependents where the said trust is administered by a committee nominated by the Federal Government or a Provincial Government; (c) a trust; (d) a welfare institution registered with Provincial or Islamabad Capital Territory (ICT) social welfare department; (e) a not for profit company registered with the Securities and Exchange Commission of Pakistan under section 42 of the Companies Act, 2017; (f) a welfare society registered under the provincial or Islamabad Capital Territory (ICT) laws related to registration of co-operative societies; (g) a waqf registered under Mussalman Waqf Validating Act, 1913 (VI of 1913) or any other law for the time being in force or in the instrument relating to the trust or the institution; (h) a university or education institutions being run by non-profit organization existing solely for educational purposes and not for the purposes of profit; (i) a religious or charitable institution for the benefit of public registered under any law for the time being in force; and (j) international non-governmental organizations (INGOs) approved by the Federal Government. (3) The following income is eligible for tax credit, namely:- (a) income from donations, voluntary contributions and subscriptions; (b) income from house…