Income Tax

Government of Pakistan, Ministry of Finance and Revenue, Revenue Division issued a Notification on 14-02-2023 in connection with Revised Rates of Sales Tax 2023 Pakistan. The details are as under:

The Federal Board of Revenue (FBR) has announced the Last Date to Submit Income Tax Returns for the year 2022.

You will read the details regarding the criteria to submit the income tax returns, the deadline as well as the fine if tax returns are submitted after the due date.

The Federal Tax Ombudsman Islamabad issued a decision on 23-08-2022 in connection with Tax Concession for Teachers 3% tax instead of 10% on Examination Duties and Others.  Some main points are as under:

I am sharing here for the information of the employees, the Income Tax Calculator 2022-23 for Salaried Persons. The employees can calculate their monthly as well as annual tax in just a few seconds. Mr. Mahmood Arshad Wattoo has prepared the same for employees. The details are as under:

I am sharing the Revision of Income Tax and Stamp Duty Rates 2022 for immovable property. The details are as under:

I am sharing here the latest Income Tax Rates 2022-23 for Salaried Persons (Employees) with Slabs. There was various news regarding an increase in tax rates for employees. Now the Government has issued the latest chart of the salaried person’s tax rates 2022-23.  The chart of the tax rates for 2022 for employees is as under:

The Federal Board of Revenue (FBR) has issued the clarification regarding the Clarification of Tax on Salary, Pension, GP Fund, and Gratuity. There were rumours in the newspaper that FBR has imposed a tax on Medical reimbursement, Pension, Gratuity/Commutation, General Provident Fund and Pay and Allowances.