Zahid Ali Faisal Asjad & Co. Chartered Accountants

01/05/2025

30/04/2025

31/10/2022

Date of filing tax return is further extended till 30 November 2022

10/06/2022

10/06/2022

Budget proposal highlights

- The minimal taxable income limit will be raised from Rs 0.6 million to Rs1.2 million for the salaried class and from Rs 0.4 million to Rs 0.6 million to AOP and Business individuals

- Salaries of government increased by 15%

- Taxes on Behbood Saving Certificate and Pensioners Benefit - Account to be dropped to 5%

- Rs24 billion has been allocated to the health sector
Rs65 billion proposed for HEC

- Advance tax to be increased on cars above 1600cc

- Exemption of complete custom duty on more than 30 pharmaceutical ingredients

- The banking sector will now face a taxation rate of 42%, up from the current 39%

- Rs1,523 billion allocated for defence expenditure
Withholding tax abolished on film distributors

- A family with a household income of less than Rs40,000 will be given a transfer of Rs2,000

- No sales tax and import duty on solar panels

31/05/2022

Import of raw material, intermediate goods and industrial equipments/machinery is not banned