Govt allocates Rs4.8bn for science and technology promotion
Naveed Babar Dar:
Lahore:The incumbent government has allocated Rs4.8 billion for 31 schemes for the promotion of science and technology.
According to details surfaced on Tuesday, the government had decided to allocate Rs9.8 billion for the construction of Daanish schools.
In his budget speech, Finance Minister Muhammad Aurangzeb said, “We will change the economic DNA by bringing the basic changes.”
Meanwhile, goods and services purchased online will also be taxed as a decision has been made to impose tax on individuals conducting online business.
According to details surfaced on Tuesday, use of e-commerce platforms for business will attract taxation. Income tax rate on interest income proposed to increase by 5%. The tax rate is proposed to rise from 15% to 20%, according to the budget document.
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