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Tax Benefits

TAX Benefit To Individuals On Investment In Habib Funds

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 in 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. 1,500,000 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. Habib Funds i.e. FHIF, FHSF FHCF and FHIBF are open end funds listed at Pakistan Stock Exchange. The investment in these funds being listed securities qualifies for tax credit. Therefore by investing in any of our Funds, you can claim tax rebate along with handsome return on your investment.

SALARIED INDIVIDUALS:

Tax slabs for salaried individuals
Taxable Income Rate of Tax
400,000 0%
400,001 to 500,000 2% of the amount exceeding Rs.400,000
500,001 to 750,000 2,000 plus 5% of the amount exceeding 500,000
750,001 to 1,400,000 14,500 plus 10% of the amount exceeding 750,000
1,400,001 to 1,500,000 79,500 plus 12.5% of the amount exceeding 1,400,000
1,500,001 to 1,800,000 92,000 plus 15% of the amount exceeding 1,500,000
1,800,001 to 2,500,000 137,000 plus 17.5% of the amount exceeding 1,800,000
2,500,001 to 3,000,000 259,500 plus 20% of the amount exceeding 2,500,000
3,000,001 to 3,500,000 359,500 plus 22.5% of the amount exceeding 3,000,000
3,500,001 to 4,000,000 472,000 plus 25% of the amount exceeding 3,500,000
4,000,001 to 7,000,000 597,000 plus 27.5% of the amount exceeding 4,000,000
7,000,001 and above 1,422,000 plus 30% of the amount exceeding 7,000,000

Tax credit on investment in mutual funds from salaried individuals

Monthly Salary Annual Taxable Income Tax Amount Effective Tax Rate Maximum investment for tax credit Tax Credit
50,000 600,000 7,000 1.17% 120,000 1,400
100,000 1,200,000 59,500 4.96% 240,000 11,900
150,000 1,800,000 137,000 7.61% 360,000 27,400
200,000 2,400,000 242,000 10.08% 480,000 48,400
250,000 3,000,000 359,500 11.98% 600,000 71,900
275,000 3,300,000 427,000 12.94% 660,000 85,400
300,000 3,600,000 497,000 13.81% 720,000 99,400
325,000 3,900,000 572,000 14.67% 780,000 114,400
350,000 4,200,000 652,000 15.52% 840,000 130,400
375,000 4,500,000 734,500 16.32% 900,000 146,900
400,000 4,800,000 817,000 17.02% 960,000 163,400
425,000 5,100,000 899,500 17.64% 1,020,000 179,900
450,000 5,400,000 982,000 18.19% 1,080,000 196,400
475,000 5,700,000 1,064,500 18.68% 1,140,000 212,900
500,000 6,000,000 1,147,000 19.12% 1,200,000 229,400
525,000 6,300,000 1,229,500 19.52% 1,260,000 245,900
550,000 6,600,000 1,312,000 19.88% 1,320,000 262,400
575,000 6,900,000 1,394,500 20.21% 1,380,000 278,900
600,000 7,200,000 1,482,000 20.58% 1,440,000 296,400
625,000 7,500,000 1,572,000 20.96% 1,500,000 314,400
700,000 8,400,000 1,842,000 21.93% 1,500,000 328,929
1,000,000 12,000,000 2,922,000 24.35% 1,500,000 365,250
1,200,000 14,400,000 3,642,000 25.29% 1,500,000 379,375
1,300,000 15,600,000 4,002,000 25.65% 1,500,000 384,808
1,400,000 16,800,000 4,362,000 25.96% 1,500,000 389,464

For further details consult your Income Tax Advisor.

You may also access the following link for custom calculation: TAX Credit Calculator

ANNOUNCEMENTS:

COMING SOON    ON-LINE SALE OF UNITS VIA BANK AL HABIB iBANKING Habib Asset Management Limited is pleased to announce facility of online payment for investments in HABIB FUNDS via Bank AL Habib Limited I Banking portal. This facility will be available to all the existing Unit holders. .......................