Updated (November 18, 2023)
| Monthly Rent | Monthly Tax | Rent After Tax |
0 |
0 |
0 |
| Yearly Rent | Yearly Tax | Rent After Tax |
0 |
0 |
0 |
| NOTE: Calculated tax amount are for your estimation and depend on that you have only rental income. For further details you may contact us. | ||
|---|---|---|
As per the Federal Budget 2023-2024 presented by the Government of Pakistan, the following slabs and income tax rates will be applicable on rental income of Immoveable property for individual only and for the company is flat rate @15% for the years 2023-2024.
1. Upto Rs.300,000/- =>> The rate of income tax is 0%.
2. From Rs.300,001/- to Rs.600,000/- =>> The rate of income tax is 5.0% of the amount exceeding Rs.300,000/-
3. From Rs.600,001/- to Rs.2,000,000/- =>> The rate of income tax is 10.00% of the amount exceeding Rs.600,000/- and fixed tax amount is Rs.15,000/-.
6. From Rs.2,000,001/- to onward =>> The rate of income tax is 25.00% of the amount exceeding Rs.2,000,000/- and fixed tax amount is Rs.155,000/-.
NOTE: 100% increase in amount of tax in case person/company is not appearing on the Active Taxpayer’s List (ATL)
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