THE ISLAMIA UNIVERSITY OF BAHAWALPUR

NEW CAMPUS, BAHAWALPUR.

(DEPARTMENT OF MANAGEMENT SCIENCES)

CLASS ASSIGNMENT

 Subject: Corporate Finance

 Class: MS (Management Sciences)
 Semester: 2nd
 Section: B
 Specialization Finance
 Topic: Taxes Comparison Between
Budget 2020-21 & 2021-22

SUBMITTED TO:

 Honourable Supervisor,

Ms. Mehwish Yamin

Management Sciences Departt
I.U.B Bahawalpur.
SUBMITTED BY:

 Name: Naveed Ahmad

 Registration: F20-BMGMT-3E-03075
Serial Tax Item Nature of Tax Rate
2020-21 2021-22
Taxpayer
01 Winning a Prize Bond, Quiz Bond or Filer 15%
Non Filer 25%
Cross Word Puzzle
02 Transfer of Property Filer 1%
Non Filer 2%
03 Advance Tax on Purchase of Property: N/A No Tax
Immoveable Property up to Rs.4 Million
Advance Tax on Purchase of Property: Filer 2%
Non Filer 4%
Immoveable Property worth over Rs.4 M
04 Tax on General Insurance Premium Non Filer 4%
Tax on Life Insurance Premium (Over 0.2 Non Filer 1%
Million Annual)
05 Banking Transaction on Cash Withdrawal Filer 0.3%
Non Filer 0.6%
(Over Rs.50,000)
06 Banking Transaction on Demand Filer 0.3%
Non Filer 0.6%
Draft/Payment Order/CDR/STDR, RTC
or similar instrument (Over Rs.25000)
07 Banking Transaction on Online Money Filer 0.3%
Non Filer 0.6%
Transfer or other electronic mail (Over
Rs.25000)
08 Advance Tax on Sale of Demand Filer 0%
Non-Filer 0.6%
Draft/Pay Order etc.
09 All Bank Transactions Filer 0%
Non Filer 0.6%
10 Registration of Vehicle Filer Rs.10000
Non Filer Rs.10000
Up-to 850cc
Up-to 851cc to 1000cc Filer Rs.20000
Non Filer Rs.25000
Up-to 1001cc to 1300cc Filer Rs.30000
Non Filer Rs.40000
Up-to 1301cc to 1600cc Filer Rs.50000
Non Filer Rs.100000
Up-to 1601cc to 1800cc Filer Rs.75000
Non Filer Rs.150000
Up-to 1801cc to 2000cc Filer Rs.100000
Non Filer Rs.200000
Up-to 2001cc to 2500cc Filer Rs.150000
Non Filer Rs.200000
Up-to 2501cc to 3000cc Filer Rs.200000
Non Filer Rs.400000
Above 3000cc Filer Rs.250000
Non Filer Rs.450000
11 Transfer of Registration of Ownership Filer 0
Non Filer Rs.5000
of a Vehicle
Up-to 850cc

Up-to 851cc to 1000cc Filer Rs.5000

Non Filer Rs.15000
Up-to 1001cc to 1300cc Filer Rs.7500
Non Filer Rs.25000
Up-to 1301cc to 1600cc Filer Rs.12500
Non Filer Rs.65000
Up-to 1601cc to 1800cc Filer Rs.18750
Non Filer Rs.100000
Up-to 1801cc to 2000cc Filer Rs.25000
Non Filer Rs.135000
Up-to 2001cc to 2500cc Filer Rs.37500
Non Filer Rs.200000
Up-to 2501cc to 3000cc Filer Rs.50000
Non Filer Rs.270000
Above 3000cc Filer Rs.62500
Non Filer Rs.300000
12 Tax on Sale of New Vehicle (from Filer Rs.10000
Non Filer Rs.10000
Manufacturer)
Up-to 850cc
Up-to 851cc to 1000cc Filer Rs.20000
Non Filer Rs.25000
Up-to 1001cc to 1300cc Filer Rs.30000
Non Filer Rs.40000
Up-to 1301cc to 1600cc Filer Rs.50000
Non Filer Rs.100000
Up-to 1601cc to 1800cc Filer Rs.75000
Non Filer Rs.150000
Up-to 1801cc to 2000cc Filer Rs.100000
Non Filer Rs.200000
Up-to 2001cc to 2500cc Filer Rs.150000
Non Filer Rs.300000
Up-to 2501cc to 3000cc Filer Rs.200000
Non Filer Rs.400000
Above 3000cc Filer Rs.250000
Non Filer Rs.450000
13 Private Motor Vehicle Tax Filer Rs.800
Non Filer Rs.1200
Up-to 1000cc
Up-to 1001cc to 1199cc Filer Rs.1500
Non Filer Rs.4000
Up-to 1200cc to 1299cc Filer Rs.1750
Non Filer Rs.5000
Up-to 1300cc to 1499cc Filer Rs.2500
Non Filer Rs.7500
Up-to 1500cc to 1599cc Filer Rs.3750
Non Filer Rs.12000
Up-to 1600cc to 1999cc Filer Rs.4500
Non Filer Rs.15000
Up-to 2000cc & above Filer Rs.10000
Non Filer Rs.30000
14 Income on Dividend/Payment of Dividend Filer 12.5%
Non Filer 20%
15 Income on Sukuk Filer 10% to 15%
Non Filer 17.5%
16 Profit on National Savings Scheme/ Filer 10%
Non Filer 17.5%
Postal Office Savings
Over 5 Lac
17 Profit on Debt Paid by Banking Company Filer 10%
Non Filer 17.5%
Over 5 Lac
18 Profit on Bonds/Certificates/Debentures/ Filer 10%
Non Filer 17.5%
Securities
Over 5 Lac
19 Tax on Extraction of Minerals from Mines Filer 0%
Non Filer 5%
20 Tax on Brokerage/Commission: Filer 10%
Non Filer 15%
Advertising Agents
21 Tax on Brokerage/Commission: Life Filer 8%
Non Filer
Insurance Agent (Under 5 Lacs)
22 Tax on Construction Related Contracts Filer 7%
Non Filer 12%
23 Tax on Other Services and T.V Filer 7%
Non Filer 12%
Advertisements
24 Tax on Sales of Goods (Company) Filer 4%
Non Filer 6%