Section 103 of the Income Tax Ordinance, 2001 explains the tax credit on residents’ foreign income. 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 the Section 103 of Income Tax Ordinance, 2001. 103. Foreign tax credit.— … Continue reading Tax credit on residents’ foreign income