Tax rates on prize and winnings during tax year 2022

The income tax rates on prize and winnings for tax year 2022 to be applicable under Section Schedule of Income Tax Ordinance, 2001. The Federal Board of Revenue (FBR) issued the Income Tax Ordinance, 2001 updated up to June 30, 2021. The Ordinance incorporated amendments brought through Finance Act, 2021. Following are the rates of income tax on prize and winnings: (1) … Continue reading Tax rates on prize and winnings during tax year 2022