AS PER SECTION 62 OF INCOME TAX ORDINANCE (For Mutual Funds)
AS PER SECTION 63 OF INCOME TAX ORDINANCE (For Pension Funds)
Based on your inputs, the tax rebate available for Mutual Funds is Rs.
Based on your inputs, the tax rebate available for Voluntary Pension Scheme is Rs.
Based on your inputs, the tax credit available is Rs.
1) Mutual Funds
2) Pension Funds
Note (Mutual Funds): Maximum Tax credit available on investment of 20% of Annual Taxable Income or actual investment amount or Rs. 1,500,000/- whichever is lower. As per current tax laws persons availing tax credit on investment in mutual funds must hold their investment for twenty four months from investment date. Otherwise the tax assesse has to pay back the tax credit earlier availed in the Tax Year in which he / she withdraws the funds, if two years since date of investment have not concluded. For more information please click here
Note (Pension Funds): Investment amount eligible for tax credit is up to 20% of taxable income. For persons of age 41 and above, an additional 2% per year investment for each year exceeding age 40 is eligible for tax credit upto 30 June 2019, subject to a cap of 30% of the preceding year's taxable income. The above computation is based on the assumption that the preceding year’s taxable income is equal to the current year’s taxable income. As per current tax laws persons availing tax credit on investment in Voluntary Pension Schemes should hold their investment until the Retirement Age (Age 60-70 or 25 years from date of investment, whichever is opted). Otherwise with-holding tax at the average rate of last three years is applicable. For more information please click here
Disclaimer: This calculator is for informational purposes only and should not be construed as an offer or solicitation to buy or sell investment products. The information presented is in summary form and does not substitute for professional advice. The information does not take into account your personal needs and financial circumstances and you should consider whether it is appropriate for you. Kindly read the constitutive documents before investment in mutual funds or pension funds.