06/07/2020

INCOME TAX CARD 2021

[As amended by Finance Act 2020-2021]
TAX RATES FOR SALARIED INDIVIDUALS
MINIMUM TAX
[Division I, Part I of the First Schedule]
S. No. Taxable Income Rate of tax Nature of Payments Section On ATL Not on ATL
MINIMUM TURNOVER Tax for Companies including P.E of
1 Upto Rs.600,000 0% 113 1.50% of Turnover
non-resident Company(except otherwise specified)
MINIMUM TURNOVER Tax for Ind. & AOPs (annual
2 Rs. 600,001 to Rs. 1,200,000 5% on amount exceeding Rs. 600,000 113 1.50% of Turnover
turnover Rs. 10 Million or more)
In case of Oil Marketing Companies, Oil Refineries, SSGPL,
3 Rs. 1,200,001 to Rs. 1,800,000 Rs. 30,000 plus 10 % on amount > Rs. 1.2M 113 0.75% of Turnover
SNGPL,PIAC, Poultry & online marketplace
4 Rs. 1,800,001 to Rs. 2,500,000 Rs. 90,000 plus 15 % on amount > Rs. 1.8M Motorcycle dealers 113 0.30% of Turnover
In case of distributers, Flour Milling, Petroleum, Agents,
5 Rs. 2,500,001 to Rs.3,500,000 Rs. 195,000 plus 17.5 % on amount > Rs. 2.5M 113 0.25% of Turnover
Rice Mills & Dealers
6 Rs. 3,500,001 to Rs.5,000,000 Rs. 370,000 plus 20 % on amount > Rs. 3.5M Imports (For Details please refer Twelfth Schedule)
7 Rs. 5,000,001 to Rs.8,000,000 Rs. 670,000 plus 22.5 % on amount > Rs. 5M Twelfth Schedule Table I 148 1.00% 2.00%
8 Rs. 8,000,001 to Rs.12,000,000 Rs. 1,345,000 plus 25 % on amount > Rs. 8M Twelfth Schedule Table II 148 2.00% 4.00%
9 Rs. 12,000,001 to Rs.30,000,000 Rs. 2,345,000 plus 27.5 % on amount > Rs. 12M Twelfth Schedule Table III 148 5.50% 11.00%
SRO 1125(I/2015 Manufacturer Importing items covered
10 Rs. 30,000,001 to Rs.50,000,000 Rs. 7,295,000 plus 30 % on amount > Rs. 30M 148 1.00% 2.00%
under said SRO
11 Rs. 50,000,001 to Rs.75,000,000 Rs. 13,295,000 plus 32.5 % on amount > Rs. 50M Persons importing finished pharmaceutical products 148 4.00% 8.00%
12 Above 75,000,000 Rs. 21,420,000 plus 35 % on amount > Rs. 75M Dividend 150 7.50% to 25% 15% to 50%

TAX RATES FOR NON SALARIED & AOPs Profit on Debt:( Other than Companies)

[Division I, Part I of the First Schedule] -upto 500,000 151 10% 20%
S. No. Taxable Income Rate of tax -above 500,000 151 15% 30%
1 Upto Rs. 400,000 0% Royalty or Fee for Technical Services received by N.R 152(1) 15.00%
2 Rs. 400,001 to Rs. 600,000 5% of Amount Exceeding Rs. 400,000/- Contracts by N.R 152(1A) 7.00% 14.00%
3 Rs. 600,001 to Rs. 1,200,000 Rs. 10,000/- plus 10% Exceeding Rs. 600,000 Sale of Goods made by:
4 Rs. 1,200,001 to Rs. 2,400,000 Rs. 70,000/- plus 15% Exceeding Rs. 1.2M - Companies 153(1)(a) 4.00% 8.00%
5 Rs. 2,400,001 to Rs.3,000,000 Rs. 250,000/- plus 20% Exceeding Rs. 2.4M - Others 153(1)(a) 4.50% 9.00%
Sale of Rice, Cotton Seeds, Edible Oils to Prescribe
6 Rs. 370,000/- plus 25% Exceeding Rs. 3M
Rs. 3,000,001 to Rs. 4,000,000 Persons 153(1)(a) 1.5% 3.00%
7 Rs. 4,000,001 to Rs. 6,000,000 Rs. 620,000/- plus 30% Exceeding Rs. 3M Sale of Fast Moving consumer goods by Distributers:
8 Above Rs. 6,000,000 Rs. 1,220,000/- plus 35% Exceeding Rs. 6M - Companies 153(1)(a) 2% 4%
TAX RATES FOR COMPANIES - Others 153(1)(a) 2.5% 5%
Supplies to Five Sector - Clause 45A(a) , Part IV of 2nd
[Division II, Part I of the First Schedule]
Schedule 153(1)(a) 0.5% 1%
S. No. Type Rate of tax Electronics & Print media Advertising Services:
1 Banking Companies 35% - Companies 153(1)(b) 1.50% 3.00%
2 Public /Private Companies 29% - Others 153(1)(b) 1.50% 3.00%
3 Small Companies 22% Contracts:
TAX RATES FOR INCOME FROM PROPERTY - Companies other than Listed Companies 153(1)(c) 7.00% 14.00%
FOR INDIVIDUALS & AOPs - Other Taxpayers Except Sportsperson 153(1)(c) 7.50% 15.00%
Sections 15 & 155 - Sportspersons 153(1)(c) 10% 20.00%
S. No. Gross amount of rent Rate of tax Services (Companies) other than Specified 153(1)b 8.00% 16.00%
1 Upto Rs. 200,000 0% Services (By Others) other than Specified 153(1)b 10.00% 17.50%
2 Rs. 200,001 to Rs. 600,000 5% of Amount Exceeding Rs. 200,000/- Specified Services 153(1)b 3% 6%
Services to Five Sector - Clause 45A(a) , Part IV of 2nd
3
Rs. 600,001 to Rs. 1,000,000 Rs. 20,000/- + 10% Exceeding Rs. 600,000 Schedule 153(1)b 0.5% 1%
Services of Stitching, Dyeing, Printing, Embroidery,
4 Rs. 1,000,001 to Rs. 2,000,000 Rs. 60,000/- + 15% Exceeding Rs. 1,000,000 Washing, Sizing & Weaving Rendered to Exporter or 153(2) 1.00%
Export House
5 Rs. 2,000,001 to Rs. 4,000,000 Rs. 210,000/- + 20% Exceeding Rs. 2,000,000 Advertising Agents Commission 233(1) 10% 20%
6 Rs. 4,000,001 to Rs. 6,000,000 Rs. 610,000/- + 25% Exceeding Rs. 4,000,000 Life Insurance Agents Commission (If less than 0.5 M) 233(1) 8% 16%
7 Rs. 6,000,001 to Rs. 8,000,000 Rs. 1,110,000/- + 30% Exceeding Rs. 6,000,000 Brokerage & Commission (Other than above) 233(1) 12% 24%
8 Above Rs. 8,000,000 Rs. 1,710,000/- + 35% Exceeding Rs. 8,000,000 CNG stations (On amount of Gas Bill) 234A 4% 8%
* IND/AOP may opt for Normal Tax Regime without any rental income limit Electricity Bills (Ind. & AOPs) 235(4)(a) upto Bill Rs. 360,000 P.A
** In case of Company, rate of tax u/s 155 shall be 15% of the gross amount of the rent.
CAPITAL GAIN ON DISPOSAL OF IMMOVABLE PROPERTY
FINAL DISCHARGE OF TAX
Section 37(1A)
S. No. Amount of Gain On ATL Not on ATL Nature of Payments Section Filer Non-Filer
Where the gain does not exceed
1 2.5% 5%
Rs. 5 M
Where the gain does not exceed
2 Rs. 5 M but does not exceed Rs. 5% 10% Exports 154 1.00%
10M
Where the gain does not exceed
Rs. 5 M but does not exceed Rs. 7.5% 15% Indenting Commission 154(2) 5.00%
3 10M
Where the gain does not exceed
Rs. 5 M but does not exceed Rs. 10% 20% Prize on Prize Bond/ Crossword Puzzle 156 15% 30%
4 10M
* If Holding Period is more than 4 years then Capital Gain is Subject to Tax @ 0%. Winning from Raffle, Lottery, Quiz etc 156 20% 40%
CAPITAL GAIN ON DISPOSAL OF SECURITIES Commission on Petroleum Products 156A 12.00% 24.00%
Section 37A
* Due care and caution has been exercised in preparation of this document. Any inadvertent error or
S. No. Holding Period On ATL Not ON ATL ommission is regretted.

Acquired before July 1, 2016: SHINEWING HAMEED CHAUDHRI & CO

1 Sold in less than 12 months 15.00% 30.00% CHARTERED ACCOUNTANTS
2 Sold after 12 but before 24
12.50% 25.00% www.hccpk.com
months
3 Sold after 24 months and LAHORE OFFICE KARACHI OFFICE MULTAN OFFICE ISLAMABAD OFFICE
acquired after 01-07-13 7.50% 15% (Head Office) 5th Floor, Karachi 2526/F, Shadman Colony, Office No. 404, 4th
HM House, 7-Bank Chambers, Hasrat Mohani Opposite High Floor, Hamdan Heights,
4 Acquired before 01-07-2013 0.00% 0.00% Square, Lahore. Road, Karachi. Court, Bahawalpur Road, Service Road East,
Acquired after July 1, 2016: Tel: + 92 42 3723 5084 – Tel: + 92 21 3241 1474, Multan. Expressway, Islamabad.
87 3241 2754, 3242 4826 Tel: +92 61 478 3979, 478 Tel: +92 345 556 6964
1 Irrespective of holding period 15.00% 30.00% Fax: +92 42 3723 5083 Fax:+92 21 3242 4835 5211-13, 451 1979 E-mail: iac@hccpk.com
Future commodity contracts- E-mail: lhr@hccpk.com E-mail:khi@hccpk.com Fax: 061-4785214
E-mail: mux@hccpk.com
PMEX 5.00% 10.00%

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