Federal Budget Highlights 2022-23
Tax on Salaried Individuals
Minimum taxable limit increased from Rs. 600,000 to Rs. 1,200,000
Business Individuals & AOPs
Minimum taxable limit increased from Rs. 400,000 to Rs. 600,000
Tax on Behbood Certificates
Maximum Tax on Behbood Certificates reduced from 10% to 5%
Fixed Income and Sales Tax for Small Retailers
A tax of Rs. 3,000 to Rs. 10,000 to be collected from Small Retailers via Electricity Bills as Final Tax
Deemed Rental Income
Individuals having more than one Immovable properties worth more than Rs. 25 million to be effectively taxed at 1% of fair market value based on 5% of property value as deemed rental income. House in personal use to be exempted from this.
#Budget22 #FBR #tax #FBR
0 Comments