SAVE TAX AND BUILD WEALTH
TAX REBATE TABLE
FIND OUT HOW
SUBMIT YOUR ACCOUNT STATEMENT BEFORE 30TH JUNE 2019 AND INFORM YOUR HUMAN RESOURCE DEPARTMENT (HR) TO MAKE TAX ADJUSTMENTS ACCORDINGLY
To avail Tax Rebate, a minimum investment holding period of two years from the date of investment is required.
Simple, make your investment, and then present your statement of account to your HR / Payroll dept. They will make the necessary adjustments to your tax deductions.
100%. Tax savings by investments in mutual funds are specified in as per section 62 and 63 of the Income Tax Ordinance 2001.
- To avail Tax Rebate, a minimum investment holding period of two years from the date of investment is required.
- As per Section 62 of Income Tax Ordinance, 2001, an individual investor of open end mutual fund (unit trust schemes) can claim tax credit on investment up to Rs. 1,500,000/- or 20% of individual’s taxable income (whichever is lower) on an investment made in Mutual Funds between July 1st and June 30th.
- As per Section 63 of Income Tax Ordinance, 2001, an eligible person joining an MCB-Arif Habib Pension Fund at the age of 41 years or above, during the first ten years, shall be allowed additional contribution of 2% per annum for each year of age exceeding 40 years. However; the total contribution shall not exceed 30% of the total taxable income of the preceding year.
- The results shown by the calculator are estimates based on individuals drawing income only from salary for a whole year. Tax liabilities may change based on a number of circumstances and we advise that you speak to your tax advisor / financial professional for exact savings amounts based on your circumstances.
Disclaimer: All investments in mutual funds and voluntary pension schemes are subject to market risks. Past performance is not necessarily indicative of the future results. Please read the Offering Document to understand the investment policies and the risks involved. The tax credit information provided in this literature is based on interpretation of MCB-Arif Habib Savings & Investments Limited. Investors are advised to seek independent professional advice in this regard. Capital gain tax and withholding tax on dividend and bonus units will be charged according to Income Tax Laws, if applicable. Withdrawal from Voluntary Pension Schemes before retirement shall have tax implications.