INCOME FROM PROPERTY

[zara khan]

The rate of tax to be deducted under section 155, in the case of
individual and association of persons, shall be-


Exempt Income upto 150,000
@ 5 per cent of the gross amount
exceeding Rs.150,000

Where the gross amount of rent
exceeds Rs.400,000 but does not
exceed Rs.1,000,000.
Rs.12,500 plus 7.5 per cent of the
gross amount exceeding Rs.400,000

Where the gross amount of rent
exceeds Rs.1,000,000.
Rs.57,500 plus 10 per cent of the gross
amount exceeding Rs.1,000,000.