Income Tax Act 2023
Section 2 Clause 26 - Tax Exemption
(as updated till Finance Act 2024)
“tax exemption” means a partial or total exemption from any tax arising under this Act by granting the following benefits to a person, namely:—
(a) rebate, tax holiday, exemption;
(b) payment of tax at a reduced rate; or
(c) the exclusion of any income from the computation of total income;
Disclaimer: This is the authentic English text of the Income Tax Act 2023, as published under SRO No. 404-Law/2025 dated 08 October 2025. In the event of any inconsistency or conflict between the content on this website and the official Government publications or gazette notifications relating to laws, rules, regulations or SROs, the official Government publications and notifications shall prevail.