Special provisions related to SMEs

Special provisions related to SMEs

Section 100E of the Income Tax Ordinance, 2001 explains the special provisions relating to Small and Medium Enterprises (SMEs).

The Federal Board of Revenue (FBR) issued the updated Income Tax Ordinance, 2001. The Ordinance incorporated amendments brought through Finance Act, 2021.

Following is the text of Section 100E of Income Tax Ordinance, 2001.

100E. Special provisions relating to small and medium enterprises.— (1) For tax year 2021 and onwards, the tax payable by a small and medium enterprise as defined in clause (59A) of section 2 shall be computed and paid in accordance with rules made under the Fourteenth Schedule.

(2) The Board may prescribe a simplified return for a small and medium enterprise.

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