February 26, 2023
The Income tax slab is calculated on the basis of the salary of an individual. It is determined on the basis of income you earned during the entire year. The Income tax slab for the years 2023-2024 has been changed a lot and a detailed explanation for it is in the blog below.
People in Pakistan have to pay tax returns after each year. The tax year runs from 1st July to 30th June of the following year. To make changes to tax returns you need special permissions.
The permission is from the Commissioner, plus it comes along with some permits and rules. The Commissioner in Pakistan has got a lot of authority in this regard. They can approve the tax return changes, but this change needs some solid supporting reasons. If there were genuine mistakes then they would be changed.
The rule is simple: if you earn less than 100,000 Rs. per month, you pay 2.5% in taxes. If you earn more than 1 million Rs. per month, the tax percentage is unspecified. You will have to pay 35% in taxes amount.
One of the most significant benefits of professional financial consultancy is the provision of investment advice. Overseas Pakistanis can benefit from their consultant’s knowledge of local investment opportunities and market trends, helping them make informed decisions about their investments. The consultant can provide a comprehensive analysis of the different investment options available and assist in creating a balanced portfolio.
Tax laws and regulations are different in every country, and it can be challenging for overseas Pakistanis to understand and comply with these laws. Financial consultants can provide the necessary guidance and help reduce tax liabilities by providing tax-efficient investment solutions and tax planning strategies.
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Moreover, financial consultants are well-versed in the latest financial trends and market conditions. They stay up-to-date with changes in tax laws, investment opportunities, and other financial developments, and can provide their clients with the latest information and advice. This means that overseas Pakistanis receive advice that is relevant, accurate, and up-to-date, allowing them to make informed financial decisions.
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PFOC offers a range of financial consultancy services, including investment planning, tax planning, and estate planning. Their team of financial consultants is well-versed in the latest financial trends and market conditions and provides tailored advice and recommendations to each client based on their unique needs and goals.
At PFOC, client satisfaction is the top priority. They take the time to understand their clients’ financial situation and personal goals, and provide personalized financial advice that aligns with their needs. Their commitment to providing top-notch financial consultancy services has made them a trusted name in the industry, serving the financial needs of overseas Pakistanis with care and dedication.
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