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#1
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Salary rates required
salam
Kindly tell me what was the rate decided in this budget for minimum taxable income for 2011-12.Last it it was 200000 for men and 260000 for women but this year slab was raised. |
#2
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The Proposed Salary Income Tax Slab Rates 2011-12 In Pakistan Federal Budget Bill are as follows:
(Note: These are annual incomes. You may accordingly find monthly income by dividing annual income by 12.) 1. Where the taxable income does not exceed Rs.350,000 0% 2. Where the taxable income exceeds Rs.350,000 but does not exceed Rs.400,000 1.50% 3. Where the taxable income exceeds Rs.400,000 but does not exceed Rs.450,000 2.50% 4. Where the taxable income exceeds Rs.450,000 but does not exceed Rs.550,000 3.50% 5. Where the taxable income exceeds Rs.550,000 but does not exceed Rs.650,000 4.50% 6. Where the taxable income exceeds Rs.650,000 but does not exceed Rs.750,000 6.00% 7. Where the taxable income exceeds Rs.750,000 but does not exceed Rs.900,000 7.50% 8. Where the taxable income exceeds Rs.900,000 but does not exceed Rs.1,050,000 9.00% 9. Where the taxable income exceeds Rs.1,050,000 but does not exceed Rs.1,200,000 10.00% 10. Where the taxable income exceeds Rs.1,200,000 but does not exceed Rs.1,450,000 11.00% 11. Where the taxable income exceeds Rs.1,450,000 but does not exceed Rs.1,700,000 12.50% 12. Where the taxable income exceeds Rs.1,700,000 but does not exceed Rs.1,950,000 14.00% 13. Where the taxable income exceeds Rs.1,950,000 but does not exceed Rs.2,250,000 15.00% 14. Where the taxable income exceeds Rs.2,250,000 but does not exceed Rs.2,850,000 16.00% 15. Where the taxable income exceeds Rs.2,850,000 but does not exceed Rs.3,550,000 17.50% 16. Where the taxable income exceeds Rs.3,550,000 but does not exceed Rs.4,550,000, 18.5% 17. Where the taxable income exceeds Rs.4,550,000. 20.00%
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Best end of life is not knowledge but action. Don't limit yourself to what you think people are expecting! |
The Following 3 Users Say Thank You to usman khalid For This Useful Post: | ||
candidguy (Wednesday, July 27, 2011), Imran Mani (Thursday, July 28, 2011), khanbaba512 (Wednesday, July 27, 2011) |
#3
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thanks bro..One more question i want to ask.What is the current rate on bank transactions??i heard that this year they lowered the rate..
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La Fatah Illa ALI la SAIF illa Zulfikar |
#4
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#5
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Quote:
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Rental Income Tax As of 2007, income from property is subject to a presumptive tax regime. Income from leasing property is subject to a 5% final withholding tax levied on the gross rent. Under Income Tax Ordinance 2001 property income exceeding Rs. 150,000 (including any advance/Pagree / biana is liable to tax. Individuals earning rental income not exceeding PKR150,000 (US$1,904) are exempted from taxation if they have no other sources of income. Capital Gains Capital gains realized by individuals from selling real property are not taxed in Pakistan unless sales of real property are part of the individual’s business. Capital gains in connection with a taxpayer’s business activities are considered as business income and taxed accordingly. Property Tax Property tax is generally levied at a flat rate of 10% on the property’s value. However, property tax is levied at progressive rates in the Punjab province. Capital Value Tax Individuals who purchase real property in urban areas or acquire the right to use the real property for more than 20 years are liable to pay capital value tax. The tax is levied at 2% on the property’s recorded value. If no property value is recorded, the tax is levied at PKR50 (US$0.64) per square yard of the property.
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Best end of life is not knowledge but action. Don't limit yourself to what you think people are expecting! Last edited by Predator; Thursday, July 28, 2011 at 09:55 AM. |
The Following 2 Users Say Thank You to usman khalid For This Useful Post: | ||
khanbaba512 (Saturday, July 30, 2011), ThaHawk (Thursday, July 28, 2011) |
#6
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In 2012 auditing and accounting paper they income tax problem contained a data of taxation year ending june 2008....now in order to calculate the taxable income for such a problem one has to have a knowledge of 2008 tax slabs....but i think everyone in the exam was aware of the tax slabs of the tax year 2011-2012...den how did they solve this problem.....
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