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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.
1 700,000 5,000 0.71 140,000 1,000
2 800,000 10,000 1.25 160,000 2,000
3 1,000,000 20,000 2.00 200,000 4,000
4 1,200,000 30,000 2.50 240,000 6,000
5 1,500,000 60,000 4.00 300,000 12,000
6 1,800,000 90,000 5.00 360,000 18,000
7 2,000,000 120,000 6.00 400,000 24,000
8 2,500,000 195,000 7.80 500,000 39,000
9 3,000,000 282,500 9.42 600,000 56,500
10 3,500,000 370,000 10.57 700,000 74,000
11 4,000,000 470,000 11.75 800,000 94,000
12 5,000,000 670,000 13.40 1,000,000 134,000
13 6,000,000 895,000 14.92 1,200,000 179,000
14 7,500,000 1,232,500 16.43 1,500,000 246,500
15 8,000,000 1,345,000 16.81 1,600,000 269,000
16 12,000,000 2,345,000 19.54 2,000,000 390,833
17 25,000,000 5,920,000 23.68 2,000,000 473,600

 

Tax Rebate Table For Bussiness Individuals and AOPs
S.No. Gross Salary Tax Amount Effective Tax Rate Maximum Investment Tax Credit
Rs. Rs. % Rs. Rs.
1 500,000 5,000 1.00 100,000 1,000
2 600,000 10,000 1.67 120,000 2,000
3 800,000 30,000 3.75 160,000 6,000
4 1,000,000 50,000 5.00 200,000 10,000
5 1,200,000 70,000 5.83 240,000 14,000
6 1,600,000 130,000 8.13 320,000 26,000
7 2,000,000 190,000 9.50 400,000 38,000
8 2,400,000 250,000 10.42 480,000 50,000
9 3,000,000 370,000 12.33 600,000 74,000
10 3,500,000 495,000 14.14 700,000 99,000
11 4,000,000 620,000 15.50 800,000 124,000
12 5,000,000 920,000 18.40 1,000,000 184,000
13 6,000,000 1,220,000 20.33 1,200,000 244,000
14 7,000,000 1,570,000 22.43 1,400,000 314,000
15 8,000,000 1,920,000 24.00 1,600,000 384,000
16 12,000,000 3,320,000 27.67 2,000,000 553,333
17 20,000,000 6,120,000 30.60 2,000,000 612,000
18 22,000,000 6,820,000 31.00 2,000,000 620,000
19 25,000,000 7,870,000 31.48 2,000,000 629,600
20 30,000,000 9,620,000 32.07 2,000,000 641,333