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 |