Tax Credit
An amount subtracted directly from the tax you owe (not from income).
Explained Simply
A tax credit reduces your actual tax bill rupee-for-rupee, unlike a deduction which reduces taxable income. Common credits include those for charitable donations and approved pension contributions.
Legal Definition
Sections 61 to 65 of the Income Tax Ordinance, 2001.
📖 Sections 61–65
Educational definition, not legal advice. Verify against the statute text (Sections 61–65) before acting.
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