Is inheritance money taxable in Pakistan?

Question

I received money from my late mother’s estate. Do I need to declare it in my income tax return, and is it taxable?

Answer 1

Money received from your late mother’s estate is treated as inheritance.
Inheritance is not considered taxable income under the Income Tax Ordinance, 2001.
However, you should declare it in your wealth statement to reflect the source and increase in assets.
No income tax is payable on the inherited amount.
Proper declaration ensures transparency and avoids future tax notices.