Islamabad (Rabnawaz Gondal) The salaried class has been the foremost in bearing the heavy burden of taxes, in the first quarter of the current fiscal year, 144 billion rupees of income tax has been collected from the salaried class.

According to the sources of FBR, the annual income tax payment of the salaried class increased from 391 billion rupees to 629 billion rupees, during two years, an increase of 238 billion rupees was recorded in the tax payment of the salaried class.

According to sources, income tax collection from the salaried class increased by 10.2 percent, while the salaried class paid more tax than the retail and real estate sectors.

On the other hand, a 38% decrease in income tax collection from the real estate sector was recorded. In the first quarter of this financial year, the real estate sector received only Rs 35.2 billion in tax.

According to the sources, due to tax concession by the government, tax collection from real estate decreased by 22 billion rupees. The rate of advance tax on sale and purchase of property was reduced by 50%.

In the budget, the advance tax on sale of property has been reduced from 5.5% to 2.75% and the tax on purchase of property has been reduced from 2.5% to 1.25%.

According to the authorities, the advance tax collection on sale of property decreased by 42% while the income tax collection on purchase of property decreased by 31%.

According to the data, the retail and real estate sectors paid a total of only 54 billion rupees in taxes.

According to officials, withholding tax collection from wholesalers and retailers increased by only 1.3 percent, while tax payments by wholesalers recorded a 10 percent decline.

On the other hand, income tax collection from retailers increased by 8.3%