Senior citizens to avail 50% tax rebate in payable income (Islamabad)

Senior citizens to avail 50% tax rebate in payable income

ISLAMABAD: Federal Board of Revenue (FBR) on Friday announced that
senior citizens over the age of 60 years are entitled to claim 50
percent rebate in the payment of tax outstanding against them. The FBR
has clarified that this facility is available to all senior citizens
under section 53(1) c and clause 1A of Part-III of the second schedule
of the Income Tax Ordinance, 2001, which clearly provides that "where
the taxable income, in a tax year, of a taxpayer aged 60 years or
more, his tax liability on such income shall be reduced by 50
percent". The facility is also available in case a tax has already
been paid at any stage by senior citizens who can claim the refund
while filing their annual tax returns. staff report
===========
Source:
http://www.dailytimes.com.pk/default.asp?page=2010\04\24\story_24-4-2010_pg5_4
=========================