Chapter 5 Deductible Amounts

Section 17 : Pollution control expenses

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1)   For purposes of computing the income earned by any person from any business in any income year, such person may deduct the pollution control expenses to the extent incurred in the operation of that business in that year.

2) Notwithstanding anything contained in sub-section (1), in computing the limit of expenses deductible under that sub-section in any income year, it shall not exceed fifty percent of the adjustable taxable income of all businesses operated by such person.

3) Any excess expense or part thereof which is not deductible in excess of the limit referred to in Sub-section (2) may be capitalized and depreciated pursuant to Schedule II at the beginning of the upcoming income year.

Explanation: For purposes of this Section, “pollution control expenses” means the expenses incurred by any person related to any process for the purpose of controlling pollution or protecting or conserving the environment in other manner.

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Section 17 : Pollution control expenses

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