06-23-2009, 03:06 PM
<blockquote id="quote"><font size="1" face="Verdana, Arial, Helvetica, san" id="quote">quote<hr height="1" noshade id="quote"><i>Originally posted by abbas_chinikham</i>
<br />So does it mean that a tax of 5% is impose on every employee whose salary exceeds 1 million? and 30% on bonus is impose on only corporate employees?
If yes, then who are included in Corporate Employees? Is there any special classification for them?
<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">
No it does not mean as you have determined.Internally Displaced Person Tax shall be leviend at the rate of 5% of tax liability. For example the tax liability of a person ,whose income is more than 1 million,is Rs.80,000/- then the Internally Displaced Person Tax would be Rs.4,000/-. These types of tax levied at the very nominal rate or on the tax liability.
An example of this tax is Education Cess which is levied in Azad Jammu and Kashmir @ 5% of tax liability. Tajveed-e-Quran Trust Deduction is also levied @ 0.2% in Azad Jammu and Kashmir.
Regards
Awais Aftab
<br />So does it mean that a tax of 5% is impose on every employee whose salary exceeds 1 million? and 30% on bonus is impose on only corporate employees?
If yes, then who are included in Corporate Employees? Is there any special classification for them?
<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">
No it does not mean as you have determined.Internally Displaced Person Tax shall be leviend at the rate of 5% of tax liability. For example the tax liability of a person ,whose income is more than 1 million,is Rs.80,000/- then the Internally Displaced Person Tax would be Rs.4,000/-. These types of tax levied at the very nominal rate or on the tax liability.
An example of this tax is Education Cess which is levied in Azad Jammu and Kashmir @ 5% of tax liability. Tajveed-e-Quran Trust Deduction is also levied @ 0.2% in Azad Jammu and Kashmir.
Regards
Awais Aftab
