Clear Lahore 23°C Clouds Karachi 28°C Clear Islamabad 20°C

← All sections

s. 23B

Accelerated depreciation to alternate energy projects

Tax On Taxable Income

(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.
Amendment history (3)
  • Inserted by the Finance Act, 2009.
  • In sub-section 4 of section 24 is substituted by the Finance Act, 2019, the substituted sub-section
  • The expression “twenty-five years” substituted by the Finance Act, 2025.

Amendment notes captured from the source page(s); they may include changes to neighbouring provisions.

Source FBR PDF page 76

Unofficial reference, compiled from the FBR’s consolidated Income Tax Ordinance 2001 (amended up to 30 June 2026). Provided for general information only — not an official FBR publication and not legal or tax advice. Always verify against the official FBR text before relying on it for filing or any decision.