KARACHI: The Federal Board of Revenue (FBR) has been informed that tax on educational and medical expenses are additional burden on the income of salaried calls, which should be eased by giving adjustments.
The FBR sources said that the aforementioned proposals submitted by the representatives of the different tax paid associations for the upcoming budget for the fiscal year 2016/2017.
The proposals also recommended that the children education and medical allowances should also be curtailed in the next FY budget.
“No allowance is provided to a salaried person on account of educational expenses and medical expenses,” the tax bodies said adding that there was an increased burden on the salaried class.
The tax bodies also recommended that the “Child education and medical expenses may be allowed to be offset against the salaries of individuals’ income, provided that documentary evidences containing name, address and National Tax Number (NTN) of educational and medical Institution are provided.”
In addition, the salaried class people should also be given adjustment against their tax liability in respect of allowable investment, the limit of which should be enhanced, it added. The change would result in facilitation and easement of taxpayers, it added.
The sources informed Customs Today that FBR top authorities have received the suggestions and recommendations and also put forward to the authorities conc
