Income Tax Rate 2020 Fbr

The fbr said that every person other than a company receiving profit on debt from persons mentioned in clause a to d of sub section 1 of section 151 are separately taxed at the rates.
Income tax rate 2020 fbr. The income tax slabs for 2020 21 are therefore as follows. The fbr issued income tax ordinance 2001 updated till june 30 2019 under which tax rates for salary persons would be applicable from july 01 2019 to june 30 2020 the fbr said that there the income of an individual chargeable under the head salary exceeds seventy five per cent of his taxable income the rates of tax to be applied shall. However rental income of companies was under normal tax regime. Rate of tax 1 2 3 1.
Finance act 2020 has amended the income tax. The fbr issued income tax. Updated up to june 30 2020. Federal board of revenue fbr has explained levy of withholding tax on profit on debt for tax year 2019 2020 applicable from july 01 2019.
Withholding income tax regime wht rates card guideline for the taxpayers tax collectors withholding tax agents as per finance act 2020 updated up to june 30 2020 disclaimer this withholding tax rates card is just an effort to have a ready reference and to facilitate all the stakeholders of withholding tax regime. The fbr issued income tax ordinance 2001 updated up to june 30 2020 after incorporating amendments brought through finance act 2020. In the case of salaried individuals there are 11 tax slabs with a progressive taxation rate. Through finance act 2019 facility provided to individuals and aops to opt the tax treatment of normal tax regime if rental income exceeds rs.
The fbr updated the rate of collection of tax under. Income tax slabs for salaried persons. The section 7b of the income tax ordinance 2001 explained the application of income tax on. Federal board of revenue fbr has updated rate of income tax on brokerage and commission to be applicable for tax year 2021 july 01 2020 to june 30 2021.
Federal board of revenue fbr issued tax rate to be imposed on interest income during tax year 2020. 4 million in a tax year. Amendment in finance act 2020. 600 000 but does not.
Where taxable income does not exceed rs. Withholding tax rates applicable withholding tax rates.