0800 - HALAL (42525)

Tax Credit

Your investment in pension scheme entitles you to avail tax credit and enhance the overall return on your savings.

Invest In Al Meezan Pension Fund- Enjoy Tax Savings & Competitive Returns!

Step 1:
Invest In Al Meezan Pension Fund upto your tax ceiling before June 30

  • Invest upto maximum of 20% of taxable income in Meezan Tahaffuz Pension Fund

Step 2:
Claim Tax Credit on the investment from your Tax Liability of 2024-2025

Taxes

How To Avail
Tax Credit Facility

To claim your tax credit amount you just need to do following:
  • As a Salaried individual, you can inform your HR or Finance Department about your investments by submitting the account statement to adjust your tax credit amount from the monthly income tax deductions.
  • As a Self-employed individual, you can adjust your tax payable by showing investment in your wealth statement at the time of Income tax return filing.
The benefits shown in the following tables are calculated as an illustration based on maximum Investments subject to respective income brackets as defined in ITO, 2001.

Salaried Individual

Annual Taxable Income (ATI) (PKR) Tax Amount (PKR) Effective Tax Rate % Permissible Investment for Tax Credit Pension Funds (PKR) Tax Credit Pension Funds (PKR)
1,200,000 30,000 2.50% 240,000 6,000
2,400,000 229,920 9.58% 480,000 44,984
3,600,000 550,080 15.28% 720,000 110,016
6,000,000 1,365,000 22.75% 1,200,000 273,000
12,000,000 3,811,200 31.76% 2,400,000 762,240
15,000,000 4,966,500 33.11% 3,000,000 993,300

Non-Salaried Individual or AOP

Annual Taxable Income (ATI) (PKR) Tax Amount (PKR) Effective Tax Rate % Permissible Investment for Tax Credit Pension Funds (PKR) Tax Credit Pension Funds (PKR)
800,000 30,000 3.75% 160,000 6,000
1,200,000 90,000 7.50% 240,000 18,000
2,400,000 409,920 17.08% 480,000 81,984
3,000,000 590,100 19.67% 600,000 118,020
4,000,000 970,000 24.25% 800,000 194,000
6,000,000 1,789,800 29.83% 1,200,000 357,960

You can also use the Tax Saving Calculator to know the tax credit amount.

The schedule/table mentioned above illustrates the tax credit which can be obtained at various income levels given their respective tax slabs as per section 63 of Income Tax Ordinance, 2001 and effective tax rate and tax credit may vary subject to actual taxable income.
*As per section 63 of the income tax ordinance 2001, an eligible person joining Meezan Tahaffuz Pension Fund can avail tax credit up to 20% of the (eligible) person’s taxable income for the relevant tax year. This information is for general purpose only. In view of Individual nature of tax consequences each investor is advised to consult with his/her tax advisor with respect to specific tax consequences of investing in the Fund.

**The retirement age for the participants shall be any age between sixty and seventy years or twenty-five years since the age of first contribution to MTPF, whichever is earlier.
Risk Disclaimer: All investments in Mutual Funds and Pension Fund are subject to market risks. Past Performance is not necessarily indicative of future results. Please read the offering document to understand the investment policies, risks and tax implication involved. This is for general information purposes only. MTPF holds certain non-compliant investments. Before making any investment decision , investor should review the latest monthly Fund Manager Report and Financial Statement of the scheme particularly the detail of non-compliant investments and risk factor.

The products herein above have been approved by our Shariah Advisor (Dr. Muhammad Imran Ashraf Usmani) whose registration reference number is (SECP/IFD/SA/005).