Capital Gains Tax Calculator Pakistan 2026-27

How stock market gains are taxed

If you buy and sell listed shares in Pakistan, capital gains tax applies under Section 37A. You don't usually need to calculate it yourself. The National Clearing Company (NCCPL) tracks your trades through your broker and collects the tax, normally at the end of each period or when you withdraw. But it helps to know what you'll owe before you sell.

Rates

For securities acquired on or after 1 July 2024, filers pay a flat 15%. Non-filers pay at least 15%, and possibly more at higher incomes. For securities acquired before that date, the old holding-period table applies:

Example

Sana bought shares of a cement company for Rs 500,000 in March 2026 and sells them for Rs 650,000 in September. Her gain is Rs 150,000. At 15%, the tax is Rs 22,500. If she'd bought the same shares in 2020 and held them for over six years, the gain would be tax-free under the older table.

Losses

If you sell at a loss, there's no tax. Losses on shares can be set off against gains on other shares in the same tax year, and in some cases carried forward. NCCPL nets gains and losses across your portfolio when computing the tax, so your bill is based on your overall result.

Dividends are separate

Dividends are taxed separately, generally at 15% for filers and 30% for non-filers, deducted by the company before paying you. This calculator only covers gains from selling.

Should you hold longer?

For shares bought after July 2024, holding longer doesn't reduce the rate. So tax alone isn't a reason to hold. For older shares, though, crossing into the next holding band can lower the rate noticeably. If you're a few weeks short of a year or two, it might be worth waiting. Make that call based on the investment first and the tax second.

Reporting on your return

Even though NCCPL collects the tax, you still report capital gains on your income tax return. NCCPL issues a certificate showing gains and tax paid; use it when filling in IRIS. Your shares also go into your wealth statement at cost.

Bonus shares and rights issues

Bonus shares are generally treated as having a cost based on the original shares, spread across the larger holding. Rights shares have their own cost, the price you paid for them. When you sell, NCCPL's system usually handles these, but it's worth checking the cost figures on your statement match your records.

Common mistakes investors make

• Forgetting brokerage and charges. Commission, CDC fees and other charges form part of your cost and reduce your gain.
• Mixing up holding periods. Shares bought in several lots have different holding periods. NCCPL works on a first-in, first-out basis.
• Not declaring gains on the return. NCCPL's deduction doesn't replace reporting. Leave it off and your wealth reconciliation won't add up.
• Ignoring non-filer rates. If you're not on the ATL, the deduction may be higher than 15%. Filing before you sell avoids it.

Related calculators

• Mutual fund tax calculator, if you invest through funds rather than buying shares yourself.
• Property capital gains calculator, to compare the treatment of gains on property.
• Filing guide, for where capital gains go on your IRIS return.

Finally, keep your broker's yearly statements and NCCPL certificates together. If FBR ever asks how a large amount in your bank came from share sales, those documents answer the question in one go.

Rates: Income Tax Ordinance 2001 and its schedules as amended by the Finance Act 2026, plus FBR's withholding tax rate card for Tax Year 2027. Results are estimates. Check with FBR or a tax adviser before acting on them.