Increase tax credits
Income Tax Slabs
As per Federal Budget 2023-2024 presented by Government of Pakistan, following slabs and income tax rates will be applicable for salaried persons for the year 2023-2024:
- Where the taxable salary income does not exceed Rs. 600,000, the rate of income tax is 0%.
- Where the taxable salary income exceeds Rs. 600,000 but does not exceed Rs. 1,200,000, the rate of income tax is 2.5% of the amount exceeding Rs. 600,000.
- Where the taxable salary income exceeds Rs. 1,200,000 but does not exceed Rs. 2,400,000, the rate of income tax is Rs. 15,000 + 12.5% of the amount exceeding Rs. 1,200,000.
- Where the taxable salary income exceeds Rs. 2,400,000 but does not exceed Rs. 3,600,000, the rate of income tax is Rs. 165,000 + 22.5% of the amount exceeding Rs. 2,400,000.
- Where the taxable salary income exceeds Rs. 3,600,000 but does not exceed Rs. 6,000,000, the rate of income tax is Rs. 435,000 + 27.5% of the amount exceeding Rs. 3,600,000.
- Where the taxable salary income exceeds Rs. 6,000,000, the rate of income tax is Rs. 1,095,000 + 35% of the amount exceeding Rs. 6,000,000.
