The National Savings Division has scheduled the draw for the 1500 rupees prize bond on February 17, 2025, Monday.

Individuals holding the 1500 rupees prize bond will undoubtedly be excited about the upcoming draw. However, those fortunate enough to win a prize will also have to pay a significant amount in taxes.

New regulations have been introduced for prize bond winners, with one important update informing bondholders about the tax deductions that will apply to their winnings.

According to the new rules, a 15% tax deduction will be applied to the prize money for tax filers on the 1500 rupees prize bond.

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In addition, non-filers will face a 30% tax deduction if they win the prize. This new tax structure represents a significant change for prize bond winners.

For instance, the first prize of 3,000,000 rupees on the fifteen hundred rupees prize bond will result in a 450,000 rupees tax for tax filers, while non-filers will have to pay 900,000 rupees.

Similarly, other prize amounts will be subject to tax at the same rates, meaning tax filers will pay less tax compared to non-filers, reflecting the different tax rates applicable to them.