Investment & Gains · Section 37A · Tax Year 2026-2027
Capital Gains Tax on Shares Calculator
Work out Section 37A tax on a disposal of listed securities. The rate turns on when you acquired them and, for anything bought on or after 1 July 2024, on whether you were on the Active Taxpayers’ List — a non-filer is charged at normal slab rates, not at 15%.
Reference
Holding-period table, acquisitions from 1 Jul 2022 to 30 Jun 2024
| Holding period | Rate | Tax on your gain |
|---|
Shown when that regime is selected. Acquisitions on or after 1 July 2024 are not rated by holding period; acquisitions from 1 July 2013 to 30 June 2022 are a flat 12.5%; earlier ones are exempt.
Step by step
How the rate is chosen
Acquisition date first
It picks the regime. Only 2022–2024 acquisitions use the holding-period table.
Then filer status
For post-July-2024 acquisitions, being on the ATL at both dates fixes the rate at 15%.
Otherwise, the normal rate
Slab rates for an individual or AOP, never below 15%; the 29% company rate for a company.
Check against NCCPL
NCCPL collects it and its computation governs — use this to know what to expect.
Reading the result
Acquisition date decides the regime
Two lots of the same scrip in the same account can be taxed under different rules purely because of when they were bought. The date of acquisition, not the date of sale, is what selects the treatment — which is why the calculator asks for it first.
For anyone who has accumulated a holding over several years, that means a single sale can straddle more than one regime. Selling "some shares" without identifying which lot leaves the tax position ambiguous.
NCCPL does most of this for you
For listed securities the gain is computed and the tax collected centrally rather than by each broker. The NCCPL certificate at year end is the authoritative record of what was computed and collected on your account, and it is the document to reconcile against — not your own trade-by-trade spreadsheet, which will differ in the details.
Losses are worth recording
A capital loss on securities is not simply a bad outcome to forget about. It can be set against gains under the rules that apply to it, so a year of mixed results is not taxed on the winners alone. Investors who only keep records of profitable trades lose that relief by default.
Where this stops
This works out the position on a disposal you describe. Unlisted shares, and securities held outside the central depository, fall outside the NCCPL mechanism and are handled differently.
FAQs
Capital gains tax on shares FAQs
How is capital gains tax on shares calculated?
On the gain — sale proceeds less cost — from disposing of listed securities. The rate depends on when you acquired them and, for anything bought on or after 1 July 2024, on whether you were on the Active Taxpayers' List at both the acquisition date and the disposal date. NCCPL computes and collects it from your CDC activity.
Do filers and non-filers really pay the same 15%?
No, and that is the most common mistake. Division VII charges 15% only to a person on the Active Taxpayers' List at both dates. A person not on the list is charged at the normal rate — the Division I slab rates for an individual or AOP, the Division II company rate for a company — with a proviso that for an individual or AOP the rate "shall not be less than 15% in any case". A non-filer with substantial other income can therefore pay up to 45% on the gain.
Does the holding period still matter?
Only for securities acquired between 1 July 2022 and 30 June 2024, which keep the sliding table: 15% up to a year, then 12.5%, 10%, 7.5%, 5%, 2.5% and nil once the holding period passes six years. Securities acquired on or after 1 July 2024 are not rated by holding period at all.
What about shares I have held for years?
Securities acquired between 1 July 2013 and 30 June 2022 are charged at 12.5% whatever the holding period or filer status. Anything acquired before 1 July 2013 is not chargeable — 0%.
Are futures treated differently?
Yes — future commodity contracts entered into by members of the Pakistan Mercantile Exchange are charged at 5% in every regime, regardless of holding period or filer status.
How is the non-filer slab rate worked out here?
The gain is stacked on top of the other taxable income you enter and the extra tax it causes is expressed as a rate on the gain. That is what charging a slice of income "at the normal rate" means. Leave other income blank and the gain is rated on its own, which usually falls below the 15% floor, so 15% applies.
Are capital losses adjustable?
Losses on securities can generally be set against gains on securities in the same tax year and carried forward for a limited period under the rules, but not against other heads of income. Enter your net gain here.
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