The federal government set a fixed tax rate of up to 20% on winnings from prize bonds and lotteries through the Finance Bill 2024. A 15% tax rate now applies to winnings from prize bonds and crossword puzzles. The government set a 20% tax rate on winnings from raffles, lotteries, and quizzes for sales promotions.
The government imposed a 10% tax on investments in Sukuks by individuals and Associations of Persons (AOPs) if the return is less than Rs. 1 million. For returns over Rs. 1 million, individuals and AOPs will pay a 12.5% tax. Companies and entities will pay a 25% tax on Sukuk investments, regardless of the return amount.
Check Rs750 Prize Bonds Draw Results July 2024
Pakistanis love buying Prize Bonds. They invest and hope to win big. The next Rs750 Prize Bond draw happens on July 15, 2024. This draw will take place in Quetta at the National Savings Division office.
Many people buy Prize Bonds. They do this even with low chances of winning. Why? Because these bonds keep their money safe. They also offer a chance to earn more. This is good in areas with low interest rates.
| Prizes | Amount | Number of Prizes |
| First Prize | Rs1,500,000 | 1 |
| Second Prize | Rs500,000 | 3 |
| Third Prize | Rs9,300 | 1,696 |
The winners of the Rs750 Prize Bond will be announced on July 15. Keep an eye out for the results.
To read our blog on “Pakistan’s national debt grown by huge Rs14 tn in past year,” click here
