Income Tax Slabs (Pakistan)!

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:

1. Where the taxable salary income does not exceed Rs. 400,000 the rate of income tax is 0%.
2. Where the taxable salary income exceeds Rs. 400,000 but does not exceed Rs. 800,000 the rate of income tax is Rs. 1000.
3. 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.
4. Where the taxable salary income exceeds Rs. 1,200,000 but does not exceed Rs. 2,400,000the rate of income tax is 5% of the amount exceeding Rs. 1,200,000. or Rs. 2000. which one is greater.
5. Where the taxable salary income exceeds Rs. 2,400,000 but does not exceed Rs. 4,800,000the rate of income tax is Rs. 60,000 + 10% of the amount exceeding Rs. 2,400,000.
6. Where the taxable salary income exceeds Rs. 4,800,000 the rate of income tax is Rs. 300,000 + 15% of the amount exceeding Rs. 4,800,000