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KARACHI: Federal Board of Revenue (FBR) has issued rate of withholding tax to be collected on income from property during Tax Year 2019.


The assets consultants

The withholding agent is responsible for collecting under Section 155 of Income Tax Ordinance, 2001 from recipient of rent of immovable property at the time the rent is actually paid, according to withholding tax card for tax year 2019 issued by the FBR.

Any payment made on account of rent of immovable property
(A) In case of individual or AOP
Where the gross amount of rent does not exceed Rs, 200,000: Nil
Where the gross amount of rent exceeds Rs, 200,000 but does not exceed Rs, 600,000: 5 percent of the gross amount exceeding Rs, 200,000

Where the gross amount of rent exceeds Rs, 600,000 but does not exceed Rs, 1,000,000: Rs, 20,000+10 percent of the gross amount exceeding Rs, 600,000
Where the gross amount of rent exceeds Rs, 1,000,000 but does not exceed Rs, 2,000,000: Rs,60,000+15 percent of the gross amount exceeding Rs, 1,000,000
Where the gross amount of rent exceeds Rs, 2,000,000: Rs, 210,000+20 percent of the gross amount exceeding Rs, 2,000,000
In case of company the tax rate shall be:
Filer: 15 percent
Non-Filer: 17.5 percent


The Assets Consultants

    Office # 1, Plot # 45-D, Muslim Street # 1
    Muslim Commercial Area, DHA Phase VI
    Karachi.

   info@theassetsconsultants.com    www.theassetsconsultants.com       +92 21 3 515 5994       +92 21 3 515 5995

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