Pakistan’s federal government has jacked up the income tax rate for people earning Rs600,000 or above per year in the federal budget for the fiscal year 2024-25.
However, people earning Rs50,000 per month will be exempted from the income tax. The government has introduced different slabs to impose up to 45% tax on people. Per month 50k salary exempted from income tax
6 to 12 lac per year will give 5 percent tax. They were previously paying Rs1250 now it has been increased to Rs2500).
| Income Range | Tax Calculation |
| 0 – Rs600,000 | No Tax |
| Rs600,001 – Rs1,200,000 | Rs15% of the amount exceeding Rs600,000 |
| Rs1,200,001 – Rs1,600,000 | Rs90,000 + 20% of the amount exceeding Rs1,200,000 |
| Rs1,600,001 – Rs3,600,000 | Rs170,000 + 30% of the amount exceeding Rs1,600,000 |
| Rs3,600,001 – Rs5,600,000 | Rs650,000 + 40% of the amount exceeding Rs3,600,000 |
| Rs5,600,001 and above | Rs1,610,000 + 45% of the amount exceeding Rs5,600,000 |
15percent tax for those earning 12 to 22 lac per year (or 183344 per month). The tax will be Rs15,000 for them from previous 11667. 25% tax those earing 22 se 32 lac per year (or 267667 montly). They will pay Rs35884 tax instead of the previous Rs28770.
With new proposal, 30 percent tax for those earning 32 to 41 lac per year or Rs341667 per month. They will pay Rs53333 instead of the previous Rs47468.
