Tax Free Income 2017 Pakistan //

GOVERNMENT OF PAKISTAN REVENUE DIVISION FEDERAL BOARD OF REVENUE Islamabad, the 6th September, 2017 Circular No. 04 of 2017 Income Tax SUBJECT: FINANCE ACT 2017- EXPLANATION OF IMPORTANT AMENDMENTS MADE IN THE INCOME TAX ORDINANCE 2001 Finance Act 2017, has brought certain amendments in the Income Tax Ordinance, 2001. Jul 01, 2018 · Income Tax is the tax that you pay on your income. Income Tax is paid by wage earners i.e., salaried class, self-employed and non-incorporated firms. Income Tax is one of the important sources through which a government finances its activities. The personal income tax. ICMA Pakistan ‖ Budget Commentary 2017-18 BUDGET AT A GLANCE Page 8 BREAKUP OF FEDERAL TAX REVENUE RECEIPTS million Budget 2016-17 Revised 2016-17 %age of T.Rev. Budget 2017-18 %age of T.Rev. Direct Taxes Income Tax.

Source 1, Source 2 29 December 2017 Rental income tax. In Pakistan, you have to pay tax on any money you gain from the property, so if you rent it out there’ll be tax to pay on the rent unless the gross amount from the rent doesn’t exceed Rs 200,000. Jul 18, 2017 · Annual income tax calculator 2017-18 for government employees, has been prepared by Mr. Mehmood Arshad Wattoo, PCO, PAEC, Islamabad. Taxes on personal income is a vital revenue sources for government employees. In this income tax calculator, you can find your annual income and total payable tax amount on your salary.

But according to state bank of Pakistan’s annual report, 57.5 million people are employed and obviously are earning some income and thus 57.5 million people should be paying income tax one way or the other. So, that rules out the figure of tax payers that keeps on floating here and there. Tax Rate 3. 3 percent for tax year 2015, 32 percent for tax year 2016, 31 percent for tax year 2017 and 30 percent for tax year 2018 and onwards other than for a banking company for which the rate of tax is 35 percent. The exception to this is small companies, which are taxed at 25 percent. Jun 04, 2014 · Tax year is designated the year in which financial year ends. Application of laws and calculations are based on Tax year. Example: Salary earned from July 01, 2017 to June 30, 2018 will be taxed under laws applicable for Tax Year 2018.

Paying property tax in Pakistan? Here’s your 2017-2018.

Income Tax Return Form; Income Tax. Income Tax basics; Register for Income Tax; Change your personal details; File Income Tax Return; Income Tax Return Form; Withholding Tax Forms; Active Taxpayer List ATL Withholding Tax Rates; Pay Income Tax;. Federal Board of Revenue Govt of Pakistan. Jan 27, 2020 · Welcome to Free File, where you can prepare and file your federal individual income tax return for free using tax-preparation-and-filing software. Let Free File do the hard work for you with brand-name software or Free File Fillable Forms. Choose a Free File Online option based on your income. subjected to tax outside Pakistan. Proportionate relief is allowed on such income at an average rate of tax in Pakistan or abroad, whichever is lower. Agreement for avoidance of double taxation: The Government of Pakistan has so far signed agreements to avoid double taxation with 39 countries including almost all the developed countries of the. Apr 06, 2017 · This is the Amount of Income Tax You Should Pay on Your Earnings.Income tax is applicable on everyone who is making a living, but due to a general lack of awareness, most people don’t file returns for their income. With a population of over 190 million, around a mere 1 percent of the Pakistani citizens file their income tax returns.

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