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Tax Benefits

Tax Credit

What is Tax Credit?

Your investments in Habib Funds entitles you to avail tax credit of upto Rs.2,000,000 or 20% of a tax payer's annual taxable income (whichever is lower).

Therefore, you can enjoy the dual benefits of saving tax as well as the potential to earn handsome returns by investing in our Funds.                 

Our investment managers utilize their professional management to provide you with individualized consultation to grow your tax efficient savings to outperform inflation.

Your savings today will help you achieve your family and life cycle goals tomorrow.

 

Tax Credit as Per Section 62 of Income Tax Ordinance 2001:

 

According to Section 62 of the Income Tax Ordinance, 2001, a “resident’ tax payer other than a company, is entitled to tax credit on investment made in investments made in Mutual Funds and or new shares offered to public by a public company listed on a stock exchange in Pakistan. This tax credit is available on an investment amount of maximum of Rs. 2,000,000 or 20% of tax payer’s taxable income, whichever is lower. The tax credit availed on acquisition of such shares will be clawed back, if such shares are disposed off within 24 months of the date of acquisition i.e. as an investor you need to hold your investments for a period of two years.

Tax Rebate Table For Salaried & Non Salaried Class
S.No. Gross Salary Tax Amount Effective Tax Rate Maximum Investment Tax Credit
Rs. Rs. % Rs. Rs.
1 800,000 1,000 0.13% 160,000 200
2 1,200,000 2,000 0.17% 240,000 400
3 1,800,000 30,000 1.67% 360,000 6,000
4 2,400,000 60,000 2.50% 480,000 12,000
5 4,800,000 450,000 9.38% 960,000 90,000
6 7,000,000 890,000 12.71% 1,400,000 178,000
7 10,000,000 1,590,000 15.90% 2,000,000 318,000
8 12,000,000 2,090,000 17.42% 2,000,000 348,333
9 16,000,000 3,090,000 19.31% 2,000,000 386,250
10 20,000,000 4,090,000 20.45% 2,000,000 409,000

 

Tax Rebate Table For AOPs (Association Of Persons)
S.No. Taxable Income Tax Amount Effective Tax Rate Maximum Investment Tax Credit
Rs. Rs. % Rs. Rs.
1 500,000 1,000 0.20% 100,000 200
2 750,000 1,000 0.13% 150,000 200
3 1,200,000 2,000 0.17% 240,000 400
4 1,500,000 15,000 1.00% 300,000 3,000
5 2,400,000 60,000 2.50% 480,000 12,000
6 3,600,000 270,000 7.50% 720,000 54,000
7 4,800,000 550,000 11.46% 960,000 110,000
8 6,000,000 850,000 14.17% 1,200,000 170,000
9 10,000,000 1,850,000 18.50% 2,000,000 370,000
10 12,000,000 2,350,000 19.58% 2,400,000 470,000