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Initial Allowance in Taxation Under Law

As per Lawkidunya, Initial allowance: One-off relief in the first year of purchasing a QCE. This means initial allowance is calculated only once over the useful life of an asset. It is not recurring. Annual allowance: It is a tax relief based on the cost of the asset less initial allowance.

Section 23 ITO Initial Allowance in Income Tax Ordinance

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