1500 prize bond 3rd prize amount after tax
Understanding the 1500 Prize Bond 3rd Prize Amount After Tax
The Rs. 1,500 prize bond is a popular investment choice in Pakistan, offering substantial rewards to its holders. If you’ve won the 3rd prize in a Rs. 1,500 prize bond draw, understanding the amount you’ll receive after tax deductions is crucial. This guide provides detailed calculations for both filers and non-filers, ensuring you know exactly what to expect.
Overview of Rs. 1,500 Prize Bond 3rd Prize
The 3rd prize for the Rs. 1,500 prize bond is Rs. 18,500. However, your net winnings depend on your tax status:
- 3rd Prize Amount: Rs. 18,500
- Tax Rate for Filers: 15%
- Tax Rate for Non-Filers: 30%
- Face Value of Bond: Rs. 1,500 (added to the prize amount)
Tax Deduction Rates
The Federal Board of Revenue (FBR) enforces withholding tax on prize bond winnings:
- Filers: Individuals who regularly file income tax returns benefit from a lower tax rate of 15%.
- Non-Filers: Those who do not file income tax returns are taxed at a higher rate of 30%.
Calculating the Net Prize Amount
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Here’s how the 3rd prize amount is calculated after tax deductions for both filers and non-filers:
For Filers
- Prize Amount: Rs. 18,500
- Tax Deduction (15%): Rs. 18,500 × 15% = Rs. 2,775
- Net Prize Amount: Rs. 18,500 – Rs. 2,775 = Rs. 15,725
- Net Amount Including Face Value: Rs. 15,725 + Rs. 1,500 = Rs. 17,225
For Non-Filers
- Prize Amount: Rs. 18,500
- Tax Deduction (30%): Rs. 18,500 × 30% = Rs. 5,550
- Net Prize Amount: Rs. 18,500 – Rs. 5,550 = Rs. 12,950
- Net Amount Including Face Value: Rs. 12,950 + Rs. 1,500 = Rs. 14,450
Summary Table of Rs. 1,500 Prize Bond 3rd Prize After Tax
| Category | Prize Amount | Tax Deduction | Net Amount | Net Amount (With Face Value) |
|---|---|---|---|---|
| Filers | Rs. 18,500 | Rs. 2,775 | Rs. 15,725 | Rs. 17,225 |
| Non-Filers | Rs. 18,500 | Rs. 5,550 | Rs. 12,950 | Rs. 14,450 |
Checking the Rs. 1,500 Prize Bond Results
To verify whether you’ve won the 3rd prize:
- Visit the official National Savings Pakistan website.
- Enter your prize bond number in the search bar.
- Select the draw date and click “Search.”
You can also visit a nearby National Savings Center to confirm your prize bond numbers or contact this number: +923335647640.
Claiming Your Prize Money
Winning prize money is straightforward. Follow these steps:
- Visit an Authorized Center: Take your original prize bond, CNIC, and a photocopy of your CNIC to a National Savings Center or the State Bank of Pakistan.
- Fill Out the Claim Form: Provide accurate details in the form.
- Submit the Required Documents: Submit the form along with your prize bond and CNIC photocopy.
- Receive Your Prize: The amount, after tax deductions, will be disbursed.
Why Filing Taxes is Important
Filing your income tax returns not only ensures compliance with the law but also significantly increases your net prize winnings. As seen above, the difference in tax rates between filers and non-filers is substantial.
Additional Information: Prize Bond Tax in Pakistan
The tax deduction rates and filing requirements are regulated by the FBR. Here are some key details:
- Prize Bond Tax Calculator: Use online tools to quickly calculate your net prize amount.
- Tax on Prize Bond in Pakistan: The rates vary based on filer status.
- Prize Bond Tax Deduction Rate for Filer: 15%.
- 1500 Prize Bond Tax Deduction 2025: Stay updated with changes in tax rates for future draws.
Calculate your profit on Premium Prize Bonds Rs. 25000 and Rs. 4000
Conclusion
The Rs. 1,500 prize bond 3rd prize offers an exciting opportunity to earn a significant amount. Understanding the tax deductions and filing your taxes can make a notable difference in your net prize amount. Stay informed and maximize your earnings by investing wisely in prize bonds.
For more details and updates on prize bonds, tax rates, and draw results, keep visiting our website. Good luck with your investments!