Tax rates on Profit on Debt during TY22

The advance tax rates on on profit on debt during tax year 2022 are under the First Schedule of the 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. The rate of tax to be deducted under section 151 shall be 15% of … Continue reading Tax rates on Profit on Debt during TY22