Introduction Highlights Economic Scenario Income Tax Ordinance Micro Finance
Sales Tax Act Central Excise Act Customs Act Self Assessment Scheme Other Laws
Micro Finance
Licensing - Existing Institutions
 
SECTION : 23 Sub-Section (1)
 
Comments :
Scope of allowing initial depreciation specified, now the assessee can claim the initial allowance either when the asset is used for the purpose of his business or the tax year in which the commercial production is commenced, which ever is later.
 
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Definitions
Scope of services broaden
Scope of Investments Enlarged
Area of operation
Minimum Capital Requirements
Licensing-Existing institutions
Suspension of a license
Audit
Extension to MFBs
Liquidity and reserves
Minimum Cash Reserve
Power to remove Directors
Power to suspend the BOD
Limitations to order by the SBP
Prosecution of Directors
Declaration of fidelity

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