LAHORE: The balloting of about 1,500 prize bonds scheduled for Monday, February 17, 2025, is a source of excitement, and all eyes are on the National Savings Division. For the lucky few winners, the money-makers are required to pay hefty taxes.<\/p>\n
As many Pakistanis await the results, new rules have added an extra layer of anticipation and preparation for prize bond winners. In an important update, bondholders should be aware of the tax deductions that will apply to any prize winnings.<\/p>\n
Under the new rules, tax filers will be taxed at 15 percent on prize earnings, while non-filers will face a 30 percent tax on the winnings. This marks a major change in the tax structure for prize bond winners, which could affect the total amount received by those lucky enough to claim the prize.<\/p>\n
Prize<\/strong><\/td>\n| Amount<\/strong><\/td>\n | Tax Filer<\/strong><\/td>\n | Tax Non-Filers<\/strong><\/td>\n<\/tr>\n<\/thead>\n\n | First Prize<\/strong><\/td>\n | 3,000,000<\/td>\n | 450,000<\/td>\n | 900,000<\/td>\n<\/tr>\n | Second Prize<\/strong><\/td>\n | 1,000,000<\/td>\n | 150,000<\/td>\n | 300,000<\/td>\n<\/tr>\n | Third Prize<\/strong><\/td>\n | 18,500<\/td>\n | 2,775<\/td>\n | 5,550<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n | The table shows how different taxes are levied on prize winnings based on whether the prize winner is a tax filer or a non-filer. For each prize, taxes are calculated at a rate of 15 percent for tax filers and 30 percent for non-filers.<\/p>\n A first prize of $3,000,000 would result in a tax filer paying $450,000 in taxes, while a non-filer would pay $900,000. A second prize of $1,000,000 would result in a tax filer paying $150,000 and a non-filer paying $300,000. A third prize of $18,500 would result in a tax filer paying $2,775 and a non-filer paying $5,550. Essentially, tax filers pay a lower tax amount than non-filers, reflecting the different tax rates that apply to them.<\/p>\n","protected":false},"excerpt":{"rendered":" LAHORE: The balloting of about 1,500 prize bonds scheduled for Monday, February 17, 2025, is a source of excitement, and all eyes are on the National Savings Division. For the lucky few winners, the money-makers are required to pay hefty taxes. As many Pakistanis await the results, new rules have added an extra layer of […]<\/p>\n","protected":false},"author":8,"featured_media":65232,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[26444],"class_list":["post-65231","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-1500-prize-bond-february-2025"],"_links":{"self":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/posts\/65231","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/comments?post=65231"}],"version-history":[{"count":1,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/posts\/65231\/revisions"}],"predecessor-version":[{"id":65233,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/posts\/65231\/revisions\/65233"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/media\/65232"}],"wp:attachment":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/media?parent=65231"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/categories?post=65231"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/tags?post=65231"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}} |