Corporate

    Minimum Turnover Tax (Sec 113) Calculator

    1.25% turnover-based minimum tax for companies and certain individuals/AOPs.

    Default tax year: Tax Year 2026Section 113 standard rate: 1.25% of turnover.Lower rates exist for certain sectors (oil refineries 0.5%, dealers 0.25%).Applies if normal tax < minimum tax computed on turnover.

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    Section 113 minimum turnover tax: 1.25% standard (lower for some sectors).

    Rs 1,500,000
    05 M10 M15 M20 M25 M
    Tax base

    Rs 1,500,000

    Department tax

    Rs 18,750

    After tax value

    Rs 1,481,250

    Effective 1.3%

    By department

    Selected department estimate

    Tax Year 2026

    Minimum Turnover Tax (Sec 113)

    standard sector at 1.250%

    Rs 18,750

    Source: ITO 2001 — Section 113

    Assumption: 1.25% of turnover for standard sector (lower for OMC/refineries/etc).

    Sources & Act reference

    Statutory citations and modelling notes

    Minimum Turnover Tax (Sec 113)

    ITO 2001 — Section 113

    1.25% of turnover for standard sector (lower for OMC/refineries/etc).

    Rule trace

    Applied rule and official references

    Applied rule id: legacy-min-tax-punjab-2026

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    Smart insight

    Estimated Minimum Turnover Tax (Sec 113) for Tax Year 2026 is Rs 18,750.

    Estimates only. Verify with latest Finance Act and official jurisdiction notifications before filing or payment.

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