Withholding Tax Card 2023-24
This withholding tax card summarizes amendments made vide Finance Act 2023 in Income Tax ordinance, which are effective from 01 July 2023.
Section 4C Rate of Super Tax on High Earning Persons
|
Category |
Rate of Tax |
|
0 to 150,000,000 |
0% of the income |
|
150,000,001 to 200,000,000 |
1% of the income |
|
200,000,001 to 250,000,000 |
2% of the income |
|
250,000,001 to 300,000,000 |
3% of the income |
|
250,000,001 to 300,000,000 |
4% of the income |
|
300,000,001
to 350,000,000 |
4% of the income |
|
350,000,001
to 400,000,000 |
6% of the income |
|
400,000,001
to 500,000,000 |
8% of the income |
|
Exceeding
500,000,000 |
10% of the income |
Section 37: Capital Gain Tax on Sale of Immovable Property
|
Holding Period |
Open Plots |
Constructed Property |
Flats |
|
Under 1 Year |
15% |
15% |
15% |
|
More than 1 year but less than 2 Years |
12.5% |
10% |
7.5% |
|
More than 2 years but less than 3 Years |
10% |
7.5% |
0% |
|
More than 3 years but less than 4 Years |
7.5% |
5% |
- |
|
More than 4 years but less than 5 Years |
5% |
0% |
- |
|
More
than 5 years but less than 6 Years |
2.5% |
- |
- |
|
After 6
Years |
0% |
- |
- |
Section 37A: Tax on Capital Gains on sale of Securities
|
Holding
Period
|
Rate
of Tax |
|
Under
1 Year |
15% |
|
More
than 1 year but less than 2 Years |
12.5% |
|
More
than 2 years but less than 3 Years |
10% |
|
More
than 3 years but less than 4 Years |
7.5% |
|
More
than 4 years but less than 5 Years |
5% |
|
More
than 5 years but less than 6 Years |
2.5% |
|
After
6 Years |
0% |
Section 113: Minimum Tax
|
Person |
Minimum
Tax as percentage
of the person’s
turnover for the year |
||
|
a. SNGPL and SSGCL
(annual turnover exceeds Rs. 1 billion b. PIA c. Poultry industry
including poultry breeding, broiler production, egg
production and poultry feed production |
0.75% |
||
|
a. Oil refineries b. Motorcycle dealer
(Sales Tax Registered) c. Oil Marketing
companies |
0.50% |
||
|
0.25% |
||
|
In all other cases |
1.25% |
Directorship Fee:
|
Directorship fee for board Meeting |
20% |
Section
149: For Salaried Individual
|
S. No. |
Taxable
Income |
Rate of
Tax |
|
1 |
Where taxable income does not exceed Rs. 600,000 |
0 |
|
2 |
Where
taxable income exceeds Rs. 600,000 but does not exceed Rs. 1,200,000 |
2.5% of
the amount exceeding Rs. 600,000 |
|
3 |
Where taxable income exceeds Rs. 1,200,000 but
does not exceed Rs. 2,400,000 |
Rs. 15,000/- + 12.5% of the amount exceeding Rs.
1,200,000 |
|
4 |
Where
taxable income exceeds Rs. 2,400,000 but does not exceed Rs. 3,600,000 |
Rs.
165,000/- + 22.5% of the amount exceeding Rs. 2,400,000 |
|
5 |
Where taxable income exceeds Rs. 3,600,000 but
does not exceed Rs. 6,000,000 |
Rs. 435,000/- + 27.5% of the amount
exceeding Rs. 3,600,000 |
|
6 |
Where
taxable income exceeds Rs. 6,000,000 |
Rs.
1,095,000/- + 35% of the amount exceeding Rs. 6,000,000 |
Tax Rates for Individual / AOP (Non-Salaried)
|
S. No. |
Taxable
Income |
Rate of
Tax |
|
1 |
Where taxable income does not exceed Rs. 600,000 |
0 |
|
2 |
Where
taxable income exceeds Rs. 600,000 but does not exceed Rs. 800,000 |
7.5% of
the amount exceeding Rs. 600,000 |
|
3 |
Where taxable income exceeds Rs. 800,000 but does
not exceed Rs. 1,200,000 |
Rs. 15,000/- + 15% of the amount
exceeding Rs. 800,000 |
|
4 |
Where
taxable income exceeds Rs. 1,200,000 but does not exceed Rs. 2,400,000 |
Rs.
75,000/- + 20% of the amount exceeding Rs. 1,200,000 |
|
5 |
Where taxable income exceeds Rs. 2,400,000 but
does not exceed Rs. 3,000,000 |
Rs. 315,000/- + 25% of the amount
exceeding Rs. 2,400,000 |
|
6 |
Where
taxable income exceeds Rs. 3,000,000 but does not exceed Rs. 4,000,000 |
Rs.
465,000/- + 30% of the amount exceeding Rs. 3,000,000 |
|
7 |
Where taxable income exceeds Rs. 4,000,000 |
Rs. 765,000/- + 35% of the amount
exceeding Rs. 4,000,000 |
Companies Rates
|
S. No. |
Category |
Rate of
Tax |
|
1 |
Small Company |
20% |
|
2 |
Banking
Company |
39% |
|
3 |
Any other Company |
29% |
Section 154A: Payment for Export of Services
|
Description |
Rate
of Tax Filer |
Rate
of Tax Non-Filer |
|
Exports proceeds of
computer software or IT services or IT enabled services by persons registered
with Pakistan Software Export Board. |
0.25% of the proceeds |
0.25% of the proceeds for tax year 2024 to tax
year 2026 |
|
Any other case |
1% of the proceeds |
1% of the proceeds |
Section 155: Rent Individuals and AOPs (Double tax in case of Non-filer)
|
S. No. |
Taxable Income |
Rate of Tax |
|
1 |
Where annual Rent does not exceed Rs.
300,000 |
0 |
|
2 |
Where
annual Rent exceeds Rs. 300,000 but does not exceed Rs. 600,000 |
5% of
the amount exceeding Rs. 600,000 |
|
3 |
Where annual Rent exceeds Rs. 600,000
but does not exceed Rs. 2,000,000 |
Rs. 15,000/- + 10% of the amount
exceeding Rs. 600,000 |
|
4 |
Where
annual Rent exceeds Rs. 2,000,000 |
Rs.
155,000/- + 25% of the amount exceeding Rs. 2,000,000 |
For Companies Rent
|
Description |
Rate
of Tax Filer |
Rate
of Tax Non-Filer |
|
On Gross
Rental Payment |
15% |
30% |
Section 156: Prizes and Winnings
|
Description |
Rate
of Tax Filer |
Rate
of Tax Non-Filer |
|
Winnings
from prize bond or cross word puzzle . |
15% |
30% |
|
Winnings
from raffle, lottery, prize on quiz prize offered for sale promotion |
20% |
40% |
Section 156A Petroleum Products
|
Description |
Rate
of Tax Filer |
Rate
of Tax Non-Filer |
|
Petroleum Products |
12% |
24% |
Section 233: Commission
|
Description |
Rate
of Tax Filer |
Rate
of Tax Non-Filer |
|
In case commission is
paid to advertising agent . |
10% |
20% |
|
In case commission is
paid to life insurance agent receiving annual commission of less than 500,000 |
8% |
16% |
|
In all other cases |
12% |
24% |
Section 235: Advance Tax on Electricity Bill (Commercial & Industrial Consumers)
|
Gross
amount of Bill |
Rate
of Tax Filer |
Rate
of Tax Non-Filer |
|
Up
to Rs. 500 |
10% |
10% |
|
Exceeds
Rs. 500 but does not exceed Rs. 20,000 |
10%
of the amount |
10% |
|
Exceeds
Rs. 20,000 – Commercial Consumers |
Rs. 1950
plus 12% of the amount exceeding 20,000 |
12% |
|
Industrial
Consumers |
Rs. 1950
plus 5% of the amount exceeding 20,000 |
10% |
For Domestic Consumers (not appearing on Active Taxpayer List)
|
Gross
amount of Bill |
Rate
of Tax Filer |
Rate
of Tax Non-Filer |
|
Less than
Rs. 25,000
|
0 |
0 |
|
Rs. 25,000
or more |
0 |
7.5% |
Section 236 Telephone Subscribers and Internet
|
Description |
Rate
of Tax |
Description |
|
For Mobile
phone and/or internet subscribers . |
15% |
For Mobile
phone and/or internet subscribers . |
|
For other
subscribers where monthly bill is more than 1,000 |
10% of
amount above 1,000 |
For other subscribers where monthly bill is more
than 1,000 |
236A Auction Sales
|
Description |
Rate
of Tax Filer |
Rate
of Tax Non-Filer |
|
Advance
tax at the time of sale by auction of immovable property . |
5.00% |
10% |
|
Advance
tax at the time of sale by auction of other then immovable property |
10.00% |
20% |
Section 236CA TV Plays and Advertisements
|
Description |
Rate
of Tax |
|
Foreign produced TV
drama serial or play . |
Rs. 1,000,000 per
episode |
|
Foreign Produced TV
play (single episode) |
Rs. 3,000,000 |
|
Advertisement starring
foreign actor |
Rs. 100,000 per second |
Section 236C: Sale of Property
|
Description |
Rate of Tax Filer |
Rate of Tax Non-Filer |
|
Advance tax at the
time of sale or transfer of immovable property |
3% |
6% |
Section 236K Purchase of Property
|
Description |
Rate of Tax Filer |
Rate of Tax Non-Filer |
|
Advance tax on
purchase of property immovable property |
3% |
10.5% |
Section 236G Distributors
|
Description |
Rate
of Tax Filer |
Rate
of Tax Non-Filer |
|
Advance
tax on sale to distributors, dealers or wholesalers (fertilizers) appearing
on ATL under ITO, 2001 and STA, 1990 |
0.25% |
0.50% |
|
Advance
tax on sale to distributors, dealers or wholesalers (fertilizers)-others |
0.70% |
1.40% |
|
Advance
tax on sale to distributors, dealers or wholesalers (other than fertilizers) |
0.10% |
0.20% |
Section 236H Retailers
|
Description |
Rate
of Tax Filer |
Rate
of Tax Non-Filer |
|
Advance
tax on sale to retailers
|
0.5% |
1% |
236Y Payment remitted abroad
|
Description |
Rate
of Tax |
Description |
|
Advance
tax on amount remitted abroad through Debit, credit, or prepaid cards |
5% of gross
amount remitted abroad |
Advance
tax on amount remitted abroad through Debit, credit, or prepaid cards |
