Section 2. Definitions.- In this Ordinance, unless there is anything repugnant in the subject or context –
(29C) “Industrial undertaking” means –
(aa) from the 1st day of May, 2020 a person directly involved in the construction of buildings, roads, bridges and other such structures or the development of land, to the extent and for the purpose of import of plant and machinery to be utilised in such activity, subject to such conditions as may be notified by the Board;
Source:
Income Tax Ordinance 2001, Section 2, Clause (29C), Sub-Clause (aa)
https://fbr.gov.pk/Categ/Income-Tax-Ordinance/326
Details
The Income Tax Ordinance has been amended to declare construction sector as an industrial undertaking, making it eligible for benefits and concession available to other industries.