Tax credit for point-of-sale machine Section 64D
Tax credit for point-of-sale machine Section 64D: Where a person, who is required to integrate their point of sales system with the FBR’s computerized system for real time reporting of sale or receipt, integrates his system with FBR during a tax year, he shall be allowed tax credit in respect of amount invested in point-of-sale machine. Such tax credit shall be lesser of:
- Amount invested in purchase of machines or
- Rs.150,000 per machine
Further bill proposes a definition of Point of sale machine as a machine meant for processing and recording the sale transactions for goods or services, either in cash or through credit and debit cards or online payments in an internet enabled environment.
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