SALARY TAX SLAB FOR TAX YEAR 2024
As per amended Finance Bill 2023 issued by the Federal Board
of Revenue (FBR). The new income tax slabs for the salaried individual under
the amended Finance Bill 2023 that will be applicable from July 01, 2023.
Section
149: For Salaried Individual (Tax Year 2024)
|
S. No. |
Taxable Income |
Rate of Tax |
|
1 |
Where taxable income does not exceed
Rs. 600,000 |
0 |
|
2 |
Where taxable income exceeds Rs.
600,000 but does not exceed Rs. 1,200,000 |
2.5% of the amount
exceeding Rs. 600,000 |
|
3 |
Where taxable income exceeds Rs.
1,200,000 but does not exceed Rs. 2,400,000 |
Rs. 15,000/- + 12.5% of the
amount exceeding Rs. 1,200,000 |
|
4 |
Where taxable income exceeds Rs.
2,400,000 but does not exceed Rs. 3,600,000 |
Rs. 165,000/- + 22.5% of the
amount exceeding Rs. 2,400,000 |
|
5 |
Where taxable income exceeds Rs.
3,600,000 but does not exceed Rs. 6,000,000 |
Rs. 435,000/- + 27.5% of the
amount exceeding Rs. 3,600,000 |
|
6 |
Where taxable income exceeds Rs.
6,000,000 |
Rs. 1,095,000/- + 35% of the
amount exceeding Rs. 6,000,000 |
Income tax slabs for the salaried individual for previous tax year 2023 are as follows
|
S. No. |
Taxable Income |
Rate of Tax |
|
1 |
Where taxable income does not exceed
Rs. 600,000 |
0 |
|
2 |
Where taxable income exceeds Rs.
600,000 but does not exceed Rs. 1,200,000 |
2.5% of the amount
exceeding Rs. 600,000 |
|
3 |
Where taxable income exceeds Rs.
1,200,000 but does not exceed Rs. 2,400,000 |
Rs. 15,000/- + 12.5% of the
amount exceeding Rs. 1,200,000 |
|
4 |
Where taxable income exceeds Rs.
2,400,000 but does not exceed Rs. 3,600,000 |
Rs. 165,000/- + 20% of the
amount exceeding Rs. 2,400,000 |
|
5 |
Where taxable income exceeds Rs.
3,600,000 but does not exceed Rs. 6,000,000 |
Rs. 405,000/- + 25% of the
amount exceeding Rs. 3,600,000 |
|
6 |
Where taxable income exceeds Rs.
6,000,000 but does not exceed Rs. 12,000,000 |
Rs. 1,005,000/- + 32.5% of the
amount exceeding Rs. 6,000,000 |
|
7 |
Where taxable income exceeds Rs.
12,000,000 |
Rs. 2,955,000/- + 35% of the
amount exceeding Rs. 12,000,000 |
