Income Tax Slabs
As per the Income tax ordinance passed by Government of Pakistan, following slabs and income tax rates will be applicable for salaried persons for the year 2017-2018:
- Where the taxable salary income does not exceed Rs 400,000, the rate of income tax is 0%.
- Where the taxable income exceeds Rs 400,000 but does not exceed Rs 500,000, the rate of income tax is 2% of the amount exceeding Rs 400,000.
- Where the taxable income exceeds Rs 500,000 but does not exceed Rs 750,000, the rate of income tax is Rs. 2,000 + 5% of the amount exceeding Rs 500,000.
- Where the taxable income exceeds Rs 750,000 but does not exceed Rs 1,400,000,the rate of income tax is Rs 14,500 + 10% of the amount exceeding Rs 750,000.
- Where the taxable income exceeds Rs 1,400,000 but does not exceed Rs 1,500,000, the rate of income tax is Rs 79,500 + 12.5% of the amount exceeding Rs 1,400,000.
- Where the taxable income exceeds Rs 1,500,000 but does not exceed Rs 1,800,000, the rate of income tax is Rs 92,000 + 15% of the amount exceeding Rs 1,500,000.
- Where the taxable income exceeds Rs 1,800,000 but does not exceed Rs 2,500,000, rate of tax is Rs 137,000 + 17.5% of the amount exceeding Rs 1,800,000.
- Where the taxable income exceeds Rs 2,500,000 but does not exceed Rs 3,000,000, the rate of income tax is Rs 259,500 + 20% of the amount exceeding Rs 2,500,000.
- Where the taxable income exceeds Rs 3,000,000 but does not exceed Rs 3,500,000, the rate of income tax is Rs 359,500 + 22.5% of the amount exceeding Rs 3,000,000.
- Where the taxable income exceeds Rs 3,500,000 but does not exceed Rs 4,000,000, the rate of income tax is Rs 472,000 + 25% of the amount exceeding Rs 3,500,000.
- Where the taxable income exceeds Rs 4,000,000 but does not exceed Rs 7,000,000, the rate of income tax is Rs 597,000 + 27.5% of the amount exceeding Rs 4,000,000.
- Where the taxable income exceeds Rs 7,000,000, rate of tax is Rs 1,422,000 + 30% of the amount exceeding Rs 7,000,000
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