Wednesday, 30 November 2022
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Agriculture Income Tax Rate in Punjab Pakistan 2020-2021

Agriculture Income tax Rate in Punjab Pakistan in year 2020-2021 on total agricultural income as per acre; THE FIRST SCHEDULE [SEE SECTION 3(1)]

Land-based or area based tax is assessed on the basis of the Cultivated Land Area. The rate of tax is based on the number of Acre as irrigated land. If the cultivated land is unirrigated then one acre of irrigated land is equal to two-acre of unirrigated land. Tax on unirrigated land is half of the irrigated land.

Agriculture Income Tax Rate in Pakistan year 2020-2021 – Area wise

S.NoLand / AreaRate of Tax
112.5 acres land ownershipNo Tax
212.5 acres to 25 acresRs.300 per acre
326 acres to 50 acresRs.400 per acre
450 acres or moreRs.500 per acre
(2)    Mature orchards
 IrrigatedRs 600 per acre
 UnirrigatedRs 300 per acre
Agriculture Income Tax Rate in Pakistan year 2020-2021 – Land / Area Based Rate of Tax

Note:  Slab of total cultivated land, computed Rate of tax per acre as irrigated land, by treating one acre of irrigated land as equal to two acre of unirrigated land, excluding mature orchards.

What is matured orchard ?

Mature Orchard” means orchard of the age of seven years or more in the case of mango orchard and of the age of five years or more in the case of other orchards;

Agriculture Income Tax Rates in Punjab Pakistan in year 2020-2021 ON TOTAL AGRICULTURAL INCOME – THE SECOND SCHEDULE [SEE SECTION 3(3)]

Under The Punjab Agriculture Income Tax Act 1997, Agriculture Income consists of any rent, revenue or income derived from land which is situated in Punjab and is used for agricultural purposes as reduced by permissible allowances and deductions. Taxable agriculture income of a person for the tax year will be calculated as below:

Agriculture Income Tax Rate in Pakistan year 2020-2021 – Agriculture Income Basis

S.NOAgriculture Income SlabTax Rate (%)
1If total income does not exceed Rs.400,000/=0%
2If total income is more than Rs.400,000 but does not exceed Rs.800,000/=Rs.1,000
3If total income is more than Rs.800,000 but does not exceed Rs.1,200,000/=Rs.2,000
If total income is more than Rs.1,200,000 but does not exceed Rs.2,400,000/=5% of the amount exceeding Rs 1,200,000
If total income is more than Rs.2,400,000 but does not exceed Rs.4,800,000/=Rs 60,000 plus 10% of the amount exceeding Rs 2,400,000
4If total income is more than Rs.4,800,000/=Rs 300,000 plus 15% of the amount exceeding Rs 4,800,000
Agriculture Income Tax Rates in Pakistan on Agriculture Income

Agriculture-Income-Tax-Rates-Provincial
Agriculture Income Tax Rates in Pakistan year 2020-2021 | Land & Income Wise

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