ISLAMABAD: Federal Board of Revenue (FBR) has notified tax rates on income derived by Association of Persons (AOPs) and business individuals during fiscal year 2019/2020.
According to the Finance Act, 2019 following are the tax slabs to be applicable on the income of AOPs and business individuals for the tax year 2020:
| S. No | Taxable Income | Rate of Tax |
| (1) | (2) | (3) |
| 1. | Where taxable income does not exceed Rs. 400,000 | 0% |
| 2. | Where taxable income exceeds Rs. 400,000 but does not exceed Rs. 600,000 | 5% of the amount exceeding Rs. 400,000 |
| 3. | Where taxable income exceeds Rs. 600,000 but does not exceed Rs. 1,200,000 | Rs. 10,000 plus 10% of the amount exceeding Rs. 600,000 |
| 4. | Where taxable income exceeds Rs. 1,200,000 but does not exceed Rs. 2,400,000 | Rs. 70,000 plus 15% 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. 250,000 plus 20% 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. 370,000 plus 25% of the amount exceeding Rs. 3,000,000 |
| 7. | Where taxable income exceeds Rs. 4,000,000 but does not exceed Rs. 6,000,000 | Rs. 620,000 plus 30% of the amount exceeding Rs. 4,000,000 |
| 8. | Where taxable income exceeds Rs. 6,000,000 | Rs. 1,220,000 plus 35% of the amount exceeding Rs. 6,000,000 |
