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What is Tax Rebate?

Government wants to give back money to you each month in shape of Tax Rebates. To promote the culture of savings, the government of Pakistan has incentivized your investments in Mutual Funds and Voluntary Pension Schemes (VPS) by allowing reduction in income tax liability. By investing in any Mutual Fund, you will not only start paying less tax in current financial year, but also get the potential of capital appreciation on your investments. This means that your next paycheck comes with extra money. Tax rebate session is in full swing as only few months are remaining till the end of tax year to claim this tax benefit and get adjustments from your employer. As you may know that all incentives and prerequisites are part of taxable income (except medical allowance).

How to avail Tax Rebate?

  • Call our Wealth Advisor at 021-35307465 and INVEST today.
  • For salaried class individuals submit your statement of Investment to your payroll/HR/Finance department to ensure adjustments are made accordingly at source instead of having to claim tax refunds, later. For non salaried class individuals you can adjust your tax payable by showing investment in your wealth statement at the time of Income tax return filing.
  • And Enjoy!

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Tax Rebate for Salaried Clients

Sr. No.

Annual
Taxable
Income Brackets (Rs.)

Annual Taxable
Income (Rs.)

Monthly
Taxable
Income
(Rs.)

Amount
Exceeding Within Income Bracket
(Rs.)

Fixed Tax
Amount
(Rs.)

Tax Rate Applicable
on Exceeding Amount
(%)

Gross
Tax
Payable
(Rs.)

Effective
Tax Rate
(%)

Investment Amount
(Rs.)
Max. limit
Rs.1.5 Million

Tax
Rebate
(Rs.)

Net
Tax
Payable
(Rs.)

 

A

B

C

D=C/12

E

F

G

H=(E*G)+F

I=(H/C)%

J=C*20%

K=(H*J)/C

L=H-K

 

FOR SALARIED CLASS INDIVIDUALS

1

400,000

400,000

33,333

0

NIL

N/A

N/A

NIL

NIL

2

400,001

500,000

500,000

41,667

100,000

2.00%

2,000

0.40%

100,000

400

1,600

3

500,001

750,000

750,000

62,500

250,000

2,000

5.00%

14,500

1.93%

150,000

2,900

11,600

4

750,001

1,400,000

1,400,000

116,667

650,000

14,500

10.00%

79,500

5.68%

280,000

15,900

63,600

5

1,400,001

1,500,000

1,500,000

125,000

100,000

79,500

12.50%

92,000

6.13%

300,000

18,400

73,600

6

1,500,001

1,800,000

1,800,000

150,000

300,000

92,000

15.00%

137,000

7.61%

360,000

27,400

109,600

7

1,800,001

2,500,000

2,500,000

208,333

700,000

137,000

17.50%

259,500

10.38%

500,000

51,900

207,600

8

2,500,001

3,000,000

3,000,000

250,000

500,000

259,500

20.00%

359,500

11.98%

600,000

71,900

287,600

9

3,000,001

3,500,000

3,500,000

291,667

500,000

359,500

22.50%

472,000

13.49%

700,000

94,400

377,600

10

3,500,001

4,000,000

4,000,000

333,333

500,000

472,000

25.00%

597,000

14.93%

800,000

119,400

477,600

11

4,000,001

7,000,000

7,000,000

583,333

3,000,000

597,000

27.50%

1,422,000

20.31%

1,400,000

284,400

1,137,600

12

7,000,001

& above

10,000,000

833,333

3,000,000

1,422,000

30.00%

2,322,000

23.22%

1,500,000

348,300

1,973,700

Tax rebate for Non Salaried

Sr. No.

Annual
Taxable Income
Brackets
(Rs.)

Annual
Taxable Income
(Rs.)

Monthly
Taxable
Income
(Rs.)

Amount
Exceeding Within Income Bracket
(Rs.)

Fixed Tax
Amount
(Rs.)

Tax Rate Applicable
on Exceeding Amount
(%)

Gross
Tax
Payable
(Rs.)

Effective
Tax Rate
(%)

Investment Amount
(Rs.)
Max. limit
Rs.1.5 Million

Tax
Rebate
(Rs.)

Net
Tax
Payable
(Rs.)

 

A

B

C

D=C/12

E

F

G

H=(E*G)+F

I=(H/C)%

J=C*20%

K=(H*J)/C

L=H-K

 

FOR NON SALARIED CLASS INDIVIDUALS

1

400,000

400,000

33,333

0

NIL

N/A

N/A

NIL

NIL

2

400,001

500,000

500,000

41,667

100,000

7.00%

7,000

1.40%

100,000

1,400

5,600

3

500,001

750,000

750,000

62,500

250,000

7,000

10.00%

32,000

4.27%

150,000

6,400

25,600

4

750,001

1,500,000

1,500,000

125,000

750,000

32,000

15.00%

144,500

9.63%

300,000

28,900

115,600

5

1,500,001

2,500,000

2,500,000

208,333

1,000,000

144,500

20.00%

344,500

13.78%

500,000

68,900

275,600

6

2,500,001

4,000,000

4,000,000

333,333

1,500,000

344,500

25.00%

719,500

17.99%

800,000

143,900

575,600

7

4,000,001

6,000,000

6,000,000

500,000

2,000,000

719,500

30.00%

1,319,500

21.99%

1,200,000

263,900

1,055,600

12

6,000,001

& above

10,000,000

833,333

4,000,000

1,319,500

35.00%

2,719,500

27.20%

1,500,000

407,925

2,311,575

Why Primus

Investment Solutions for You! We believe that everyone should benefit from smart saving and well diversified investment solutions that are appropriately balanced. This is where we come first; we strive to optimize investment returns by investing in carefully selected sectors that will enable you to reap the benefits from your savings. You can save the time and effort spent on…

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