Income Tax Ordinance, 2001

CHAPTER-III

TAX ON TAXABLE INCOME PART IV HEAD OF INCOME: INCOME FROM BUSINESS Division III Deductions: Special Provisions

From: 2023-07-01 - To: 0000-00-00 1[23B. Accelerated depreciation to alternate energy projects.- (1) Any plant, machinery and equipments installed for generation of alternate energy by an industrial undertaking set up anywhere in Pakistan and owned and managed by a company shall be allowed first year allowance in lieu of initial allowance under section 23, at the rate specified in Part II of the Third Schedule against the cost of the eligible depreciation assets put to use after first day of July, 2009. (2) The provisions of section 23 except sub-sections (1) and (2) thereof, shall mutatis mutandis apply.] _________________________________________________________ 1-Inserted vide the Finance Act, 2009 (I of 2009 assented on 30th June, 2009) From: 2009-07-01 - To: 2023-06-30 1[23B. Accelerated depreciation to…