SELECT YOUR
EMPLOYMENT STATUS
SALARIED INDIVIDUALS
Please provide the following information
NON SALARIED INDIVIDUALS
Please provide the following information
Tax Credit Statement
Monthly Income
Annual Insurance Premium
Total Tax Credit
Tax Credit as a Percentage of Premium
Disclaimer
The detail given in this statement is not qualified tax advice and is only being provided to create a better understanding of the tax credit. EFU Life does not take any responsibility if the information is erroneously construed to be tax advice by any individual. You should always take expert legal advice from a qualified lawyer for interpretation of any provisions of the law.
Important DetailsNote:
- The Tax Claimant has to be resident in Pakistan
- The Tax Claimant should pay individual family takaful contribution to Takaful/Window Takaful Operator registered with the SECP only.
- Derived income should be chargeable to tax under the head "salary" or income from "business" only.
- Tax credit would be on the basis of (A/B)xC where
- is the tax liability of the person
- is the taxable income under the head salary or business income
- is the lesser of:
- total contribution paid by the person or
- 20% of Taxable Income
- One and a Half Million Rupees
1. The Tax Claimant has to be resident in Pakistan
2. The Tax Claimant should pay individual family takaful contribution to Takaful/Window
Takaful Operator registered with the SECP only.
3. Derived income should be chargeable to tax under the head "salary" or income from
"business" only.
4. Tax credit would be on the basis of (A/B)xC where
A. is the tax liability of the person
B. is the taxable income under the head salary or business income
C. is the lesser of:
i. total contribution paid by the person or
ii. 20% of Taxable Income
iii. One and a Half Million Rupees
Tax Credit Statement
Annual Income
Annual Insurance Premium
Total Tax Credit
Tax Credit as a Percentage of Premium
Disclaimer
The detail given in this statement is not qualified tax advice and is only being provided to create a better understanding of the tax credit. EFU Life does not take any responsibility if the information is erroneously construed to be tax advice by any individual. You should always take expert legal advice from a qualified lawyer for interpretation of any provisions of the law.
Important DetailsNote:
1. The Tax Claimant has to be resident in Pakistan
2. The Tax Claimant should pay individual family takaful contribution to Takaful/Window
Takaful Operator registered with the SECP only.
3. Derived income should be chargeable to tax under the head "salary" or income from
"business" only.
4. Tax credit would be on the basis of (A/B)xC where
A. is the tax liability of the person
B. is the taxable income under the head salary or business income
C. is the lesser of:
i. total contribution paid by the person or
ii. 20% of Taxable Income
iii. One and a Half Million Rupees
- The Tax Claimant has to be resident in Pakistan
- The Tax Claimant should pay individual family takaful contribution to Takaful/Window Takaful Operator registered with the SECP only.
- Derived income should be chargeable to tax under the head "salary" or income from "business" only.
- Tax credit would be on the basis of (A/B)xC where
- is the tax liability of the person
- is the taxable income under the head salary or business income
- is the lesser of:
- total contribution paid by the person or
- 20% of Taxable Income
- One and a Half Million Rupees