exemption certificate

Question

I am a Non-resident Pakistani for tax year 2024-25 & as declared in my previous years income tax returns. My only Pakistan-Source Income subject to tax is Profit on Debt u/s 151(1)(b).

1- How can I get exemption certificate 

2-My total income from Profit on Debt u/s 151(1)(b) exceeds Rs:5M, what income tax  slabs will be applicable for tax year 2024-2025?

Answer 1

You will be required to file online form for tax exemption for overseas Pakistanis. Approval of Commissioner Income tax will be required to exempt income from Profit on Debt.

Profit on debt on RDA Accounts is 10% (Final)

Normal Business Tax Rates will be applicable on profit on debt above 5m.
upto 45% of amount exceeding 5m