4 to 8 lakh rupees will be 1000 tax on annual income
Islamabad … News Time
The federal finance minister presented the Supplementary Finance Bill in the National Assembly, which was unanimously approved. Increase duty on 1800 cc vehicles and more tax on Tobaco, The ban on buying a new car and property for non-filth was terminated. According to the Finance Bill, there will be no tax on income up to Rs 4 lakhs annually, 4 to 8 lakh rupees on annual income 1000 pay will be tax, 8 to 12 lakhs on annual income 2000 rupees pay will be tax, Similarly, 12 to 24 lakh rupees will be 5 percent tax on annual income, 30 to 40 million rupees Rs 15,000 will be pay fixed tax, fixed to Rs 30 to Rs 400 lakhs taxes will also be 20%.According to the bill, the amount of Rs. 40 to Rs 35,000 rupees pay will be fixed tax, 40 to 50 million rupees 25% tax, over Rs. 50 lakhs fixed 6 And will give pay 29 percent tax.
While addressing the National Assembly, Finance Minister Asad Umar said that pension is being increased by 10 percent, Farmers are increasing fertilizer delivery, to raise taxes on tobacco, 7 billion subsidies has been approved for the sustainability of urea prices, 8276 houses will be constructed for laborers, eliminate duty from raw material for the export industry. He said that the export industry is closing duty on 82 products, 50000 people were unemployed due to closing textile in Punjab.
Asad Omar further said that we are going to take five important steps; it is proposed to be deducted on expensive phones, the budget is proposed to be taxed on the Tabaco, duty on the above 1800 cc duty was 20% restricting ban on new vehicles and property for non-filers. He said that without raising tax, he will get Rs 95 billion, exporting 5 billion reliefs to export industry in regards to regulatory duty. Asad Omar said our goal is to strengthen and provide the economy, if there is no change in budget, problems can arise. He said that the government fulfilling the term is not the option to submit budget for the next fiscal year. The six budget presented to the previous government was contrary to facts. He said electricity sector has lost a loss of Rs 400 billion in one year; it is our first priority to withdraw the country from debt.
Federal Finance Minister said last year budget deficit was 4.1, trying to increase exports, Zodiac reserves are falling rapidly, and external debt has increased from 60 billion to 95 billion. He said that there are more than 100 billion losses in the gas sector, he said. If there is no change in budget, problems can arise. He said that in the current situation the loss can reach 7.2 percent, if we continue walking, then the loss can reach Rs. 20000 billion. According to the report, Asad Umar said rotary loans increased to Rs 550 billion last year, the circular debt in gas sector reached 150 billion rupees, Zodiac reserves are inaccessible to import two months. He said that petrol could cost 20 rupees expensive by reducing the value of rupees. Those who pay more salaries are lowering tax than last year; 50 billion have been kept for Karachi Infrastructure projects.
The Finance Minister said the tax exemption is being erased on the membership of the members, C pack plans will not allow a rupee to come down, in 30 years, we did not achieve any success, in the financial year 2018, the budget was 661 billion rupees, The budget for the current financial year has been Rs 725 billion. They said Damamer and Bhasha Dames will be built in 6 years. Asad Omar also announced withdrawal of petroleum development levy. He said that the Prime Minister, Ministers and Governors’ Alliance are finishing tax exemptions; the new financial bill has reduced tax on different fields.
To reduce pressure on the economy and increase revenue, the Government will present the budget in the National Budget (Finance Bill) today; the necessity is expected to increase duty on 500 items of, which is likely to be expensive for mobile phones, ACs, refrigerators and cigarettes. Finance bill will be approved by the cabinet before submitting to the parliament. The meeting of the National Assembly in this regard is 10:00 am while Senate’s meeting has been convened at 11 am this morning, Sources say that the government is currently facing strong economic pressure, now without wasting time, the former government wants to get the negative impact of the budget given in its last days and increase the revenue by investing in matters of affairs.
Sources said the regulatory and customs duties are likely to increase from 500 to 750 imported goods in the proposed proposed budget. Custom duty is likely to increase by 2 to 3 percent on different goods. Regulatory duty is likely to increase on cigarette and luxury goods. FBR sources say that tax tax on non-real estate and assets, raising tax on import of mobile phones, the duty of mobile phone to be upto 6%, the development budget decreases 140 billion rupees, it is proposed to cost cosmetics to allocate Rs 660 billion instead of development budget, increase duty on make-up equipment, cosmetics. Duty is likely to increase mobile phones and other devices. Apart from AC, refrigerator, deep freezer, LED equipment including LEDs is likely to be expensive.
The federal government of Tehreek-e-Insaf has started making some inevitable decisions to restore the economy and in spite of some tough measures involved in the mini budget, gas prices are 10 to 20 percent for the poor and riches have increased by 143 percent new prices will be applied from October. It has been tried that the poor users are not much affected, which is a happy move for this purpose, the burden of the increase in prices has been transferred from domestic consumers to industrial commercial electricity, fertilizer, cement and CNG sector.
Federal Minister Information Fadad Chaudhary after meeting the cabinet’s Economic Contact Committee on Monday and the petroleum Ghulam Sarwar Khan, the details of the details, told reporters according to them, there were three slabs of prices for consumers who have been increased to 7, the customers of the first slab will now be Rs 23 and last slab people will have to pay around Rs 21,000 a month. The gas purchased at a higher cost was being sold at a lower cost according to the financial experts, now they will get Rs 96 billion extra in the case of gas companies Sui Northern and Sui Southern Rs 152 billion. That deficit will decrease. However, in the next phase, the gas price is likely to increase further too completely eliminate the loss.
The price of LPG cylinders has been reduced by 200 rupees, duty and taxes have been deducted by 10 percent GST. Gas prices have not been increased for export industries, which will increase exports and help reduce trade deficit. The Minister said that the increase in gas prices would restore the textile industry, resulting in employment of 5 lakh workers who will be unemployed again. The gas prices provided to the electricity sector will not be transferred to consumers and electricity rates will not be increased. Gas prices for cement and fertilizer factories have increased by 30 to 40 percent respectively.
CNG will be imported to the imported industries at the same cost. This will give the government a subsidy of billions of rupees. Punjab’s consumer was buying expensive gas before it while Sindh and Balochistan were being given gas at low cost. The government has decided to increase gas prices at a time when it has been spent just one month and the people have made extraordinary expectations to provide them with easy access but gas prices increase the prices of goods that are used in gas, especially for cement and fertilizer prices. This will also affect the general users. Price of 200 rupees has been given at the cost of duty and taxes on LPG cylinder. But the general sales tax has been set up, which will collect 16 billion rupees in the government’s treasury but forwarding, dealers will get the license to increase cylinder prices, which will have to control the government level. Otherwise it will be burden on consumers to consider the results of billions of rupees in the mini budget. If thousands of goods will not be expensive, thousands of goods will be expensive; there is no doubt that the government has got foreign loans for the rupees. Apart from which they are required to complete water reservoirs and other extremely important economic plans but the people are making it easier for the lives of people who will not be able to get political disadvantages due to the lack of meeting and falling in the expensive mill. The government should take steps to restore the economy, but also keep this aspect of our decisions. Provide necessary facilities to four people from the cost of unemployment and unemployment.
