How much tax on prize bond is in Pakistan?

How much tax on prize bond is in Pakistan? In Pakistan, the tax on prize bonds varies depending on the Filer and non-filers’ status. Prize bond tax deduction rate for filer is 15% and prize bond tax deduction rate for nonfilers is 30%.

پرائز بانڈ کی انعامی رقم

However, if the prize bond holder is a filer, then the tax and prize bond tax deduction rate of 2023 on the prize money is reduced.

• For filers, the tax rate is 15%, and
• For non-filers, the tax rate is 30%.

It is important to note that the tax on prize bond winnings is collected at source by the State Bank of Pakistan, and the prize money is paid out after deducting the applicable tax.

Prize bond tax calculator

The details of the tax deduction on prize bond for 2022–23 are given below:

How much tax is on Rs. 100 prize bonds in Pakistan?

15% tax is deducted from the filer and 30% from the non-filer. There are multiple other benefits of filing a return in Pakistan.

 

100 prize bond prize amount after tax

	Prize Money (PKR)	Filer (15% Tax)	Nonfiler (30% Tax)
1st Prize	700,000	595,000	490,000
2nd Prize	200,000	170,000	140,000
3rd Prize	1000	850	700

1st prize 700,000

Prize Money after tax deduction

Filer (15%)

700,000 * .85 = 595,000/-

Non-filer (30%)

700,000 * .70 = 490,000/-

 

2nd prize 200,000

Prize Money after tax deduction

Filer (15%)

200,000 * .85 = 170,000/-

Non-filer (30%)

200,000 * .70 = 140,000/-

 

3rd prize Rs. 1000/-

Prize Money after tax deduction

Filer (15%)

1000 * .85 =850/-

Non-filer (30%)

1000 * .70 = 700/-

Note: The face value of the prize bond of Rs. 100 is also added with the amount of prize money either first prize, second prize, or third prize, and in both cases, if you are a filer or non-filer.

 

How much tax is on Rs. 200 prize bonds in Pakistan?

15% tax is deducted from the filer and 30% from the non-filer. There are multiple other benefits of filing a return in Pakistan.

200 prize bond prize amount after tax

	Prize Money (PKR)	Filer (15% Tax)	Nonfiler (30% Tax)
1st Prize	750,000	637,500	525,000
2nd Prize	250,000	212,500	175,000
3rd Prize	1250	1062	875

1st prize 750,000

Prize Money after tax deduction

Filer (15%)

750,000 * .85 = 637,500/-

Non-filer (30%)

750,000 * .70 = 525,000/-

 

2nd prize 250,000

Prize Money after tax deduction

Filer (15%)

250,000 * .85 = 212,500/-

Non-filer (30%)

200,000 * .70 = 175,000/-

 

3rd prize Rs. 1250/-

Prize Money after tax deduction

Filer (15%)

1250 * .85 =1062/-

Non-filer (30%)

1250 * .70 = 875/-

Note: The face value of the prize bond of Rs. 200 is also added with the amount of prize money either first prize, second prize, or third prize, and in both cases, if you are a filer or non-filer.

 

What is the tax on 750 prize bonds in Pakistan?

15% tax is deducted from the filer and 30% from the non-filer. There are multiple other benefits of filing a return in Pakistan.

 

750 prize bond prize amount after tax

	Prize Money (PKR)	Filer (15% Tax)	Nonfiler (30% Tax)
1st Prize	1,500,000	1,275,750	1,050,750
2nd Prize	500,000	425,750	350,750
3rd Prize	9,300	8,655	7,260

1st prize 1500,000

Prize Money after tax deduction

Filer (15%)

1500,000 * .85 = 1,275,000/-

Non-filer (30%)

1500,000 * .70 = 1,050,000/-

 

2nd prize 1500,000

Prize Money after tax deduction

Filer (15%)

500,000 * .85 = 425,000/-

Non-filer (30%)

500,000 * .70 = 350,000/-

 

3rd prize Rs. 9,300/-

Prize Money after tax deduction

Filer (15%)

9,300 * .85 = 7,905/-

Non-filer (30%)

9,300 * .70 = 6,510/-

Note: The face value of the prize bond of Rs. 750 is also added with the amount of prize money either first prize, second prize, or third prize, and in both cases, if you are a filer or non-filer.

 

How much tax is on 1500 prize bonds in Pakistan?

15% tax is deducted from the filer and 30% from the non-filer. There are multiple other benefits of filing a return in Pakistan.

 

1500 prize bond prize amount after tax

	Prize Money (PKR)	Filer (15% Tax)	Nonfiler (30% Tax)
1st Prize	3,000,000	2,550,000	2,100,000
2nd Prize	1,000,000	850,000	700,000
3rd Prize	18,500	15,725	12,950

1st prize 3,000,000

Prize Money after tax deduction

Filer (15%)

3,000,000 * .85 = 2,550,000/-

Non-filer (30%)

3,000,000 * .70 = 2,100,000/-

 

2nd prize 1,000,000

Prize Money after tax deduction

Filer (15%)

1,000,000 * .85 = 850,000/-

Non-filer (30%)

1000,000 * .70 = 700,000/-

 

3rd prize Rs. 18500/-

Prize Money after tax deduction

Filer (15%)

18500 * .85 =15,275/-

Non-filer (30%)

18500 * .70 = 12,950/-

Note: The face value of the prize bond of Rs. 1500 is also added with the amount of prize money either first prize, second prize, or third prize, and in both cases if you are a filer or non-filer.

 

Check the State Bank of Pakistan‘s official website for details.