ISLAMABAD – Under the new income rates announced by the govt in Budget, over 1.464m taxpayers will get benefit of Rs 8,167 million.
According to a document distributed among newsmen by the Ministry, the 51,032 salaried persons with income between Rs 350,000 to 400,000 will get tax benefit of Rs 354m while 6,300 taxpayers in the income group of Business Individuals with Rs 350,000 to Rs 400,000 will get relief of Rs.145m. Like-wise 7,088 taxpayers in the category of association of persons (AoP) in income group between 350,000 to 4,00,000 will get tax benefit of Rs 267m. Similarly 869,009 salaried persons with above Rs 400,000 income will get tax benefit of Rs 4,000m while 499,981 income group of business individuals will avail benefit of Rs1,750m. Likewise 30,718 taxpayers in the category of association of persons in the income group of above Rs 400,000will get tax benefit of Rs.7,400m.