Accountancy Forum

Hi alls

i need to know that is there any change in tax rate applicable on income from property in new budget?

if it is so then can someone "relevent to the field" tell me new slabs and rates applicable on such income.

thanx in advance

regards

kasim

@KASIM....

There is no change on income from house property in new budget. Exemption of Rs. 150,000 from non Corporates and slab rates applied. The maximum tax rate is 10% .


Individuals
0 - 150,000 = 0
150,001 - 400,000 = 5%
400,001 - 1000,000 = 12,500 +7.5% of amount exceeding 400,000
1000,001 and above = 57,500 + 10% of amount exceeding 1000,000


Company


0 - 400,000 = 5%
400,001 - 1000,000 = 20000 +7.5% of amount exceeding 400,000
1000,001 and above = 65000 + 10% of amount exceeding 1000,000

Regards,
WARDAH

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