ISLAMABAD: The Federal Board of Revenue (FBR) has announced a 50% tax relief for senior citizens, allowing individuals aged 60 and above to receive a significant reduction in their outstanding tax liabilities. The measure aims to ease the financial burden on elderly taxpayers.
According to the tax authority, the relief is granted under Section 53(1)(c) and Clause 1A of Part-III of the Second Schedule of the Income Tax Ordinance, 2001. Under this provision, eligible taxpayers in the 60-and-above age group will be required to pay only half of the tax calculated on their annual income.
The rebate applies not only to outstanding tax liabilities but also to taxes that have already been paid. Senior citizens who have made tax payments earlier can claim the 50% reduction as a refund when filing their annual tax returns.
Officials said the initiative is designed to provide financial relief to elderly taxpayers while reinforcing the government’s commitment to supporting senior citizens and reducing their tax burden.
