Income Tax Slabs
As per income tax exemption bill passed by Government of Pakistan, following slabs and income tax rates will be applicable for salaried persons for the year 2018-2019:
- Where the taxable salary income does not exceed Rs. 400,000 the rate of income tax is 0%.
- Where the taxable salary income exceeds Rs. 400,000 but does not exceed Rs. 800,000 the rate of income tax is Rs. 1000.
- Where the taxable salary income exceeds Rs. 800,000 but does not exceed Rs. 1,200,000 the rate of income tax is Rs. 2000.
- Where the taxable salary income exceeds Rs. 1,200,000 but does not exceed Rs. 2,500,000 the rate of income tax is 5% of the amount exceeding Rs. 1,200,000 or Rs. 2000. which one is greater.
- Where the taxable salary income exceeds Rs. 2,500,000 but does not exceed Rs. 4,000,000 the rate of income tax is Rs. 65,000 + 15% of the amount exceeding Rs. 2,500,000.
- Where the taxable salary income exceeds Rs. 4,000,000 but does not exceed Rs. 8,000,000 the rate of income tax is Rs. 290,000 + 20% of the amount exceeding Rs. 4,000,000.
- Where the taxable salary income exceeds Rs. 8,000,000 the rate of income tax is Rs. 1,090,000 + 25% of the amount exceeding Rs. 8,000,000.
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