Govt Announces Huge Relief for Salaried Class

Finance Minister, Shaukat Tarin in his wind-up speech on Friday, announced that the income tax exemption on medical allowance for employees will be restored.

He also announced the withdrawal of the Rs. 10 billion in taxes imposed on the salaried class.

The budget announcement had revealed that the government implemented income tax on the expenditures on medical treatment, various allowances, and the savings in provident and pension funds of the salaried class. This move had come under severe criticism, which is now ultimately rescinded.

During his wind-up speech also announced to reverse some of the adverse taxation measures that were part of the Finance Bill 2021 unveiled on June 11.

He also announced that the tax on flavored milk and other food commodities has also been removed.

Courtesy: Pro Pakistani

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