Budget 24-25: proposal to increase taxes on filers and non-filers

WEB DESK: The federal budget for 2024 proposes an increase in the rates of filer and non-filer taxes for the next fiscal year.

According to the budget document, a proposal to increase the tax on capital gains on property has been made for the upcoming fiscal year.

As per the budget document, a 15% tax rate is proposed for filers, while a 45% tax rate is proposed for non-filers.

Read More: 36 thousand rupees recommendation for minimum wage in Budget 24-25

According to the document, a duty of 44,000 rupees per kilo of ATF used in cigarette filters has been imposed, which could help curb smuggling and counterfeit cigarettes.

Furthermore, as per the budget document, the proposal is to increase the FED on cement from 2 rupees per kilo to 3 rupees per kilo, and a 5% FED is proposed on new plots, commercial, and residential properties.