Income Tax Calculator Pakistan 2024-2025 By AA Accounting & Tax Solutions
Calculate your income tax for the financial year 2024-2025 using
the updated tax slabs announced in the budget on 12 June 2024.
This tool helps you determine your monthly or yearly tax
based on your income.
Income Tax Slabs 2024-2025 By AA Accounting & Tax Solution
Budget 2024-25: Salaried Class to Face Up to 35% Income Tax
| Sr # | 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 | 5% of the amount exceeding Rs. 600,000 |
| 3 | Where taxable income exceeds Rs. 1,200,000 but does not exceed Rs. 2,200,000 | Rs. 30,000 + 15% of the amount exceeding Rs. 1,200,000 |
| 4 | Where taxable income exceeds Rs. 2,200,000 but does not exceed Rs. 3,200,000 | Rs. 180,000 + 25% of the amount exceeding Rs. 2,200,000 |
| 5 | Where taxable income exceeds Rs. 3,200,000 but does not exceed Rs. 4,100,000 | Rs. 430,000 + 30% of the amount exceeding Rs. 3,200,000 |
| 6 | Where taxable income exceeds Rs. 4,100,000 | Rs. 700,000 + 35% of the amount exceeding Rs. 4,100,000 |
Updated Income Tax for 2024-2025 in Pakistan
The Government of Pakistan has announced the new income tax slabs for the fiscal year 2024-2025 as part of the latest budget. These changes are aimed at broadening the tax base and ensuring a more equitable distribution of the tax burden among different income groups.
For the tax year 2024-2025, the key updates are as follows:
The government has also proposed to withdraw certain tax exemptions and introduce new taxes in various sectors to meet the revenue targets set by the International Monetary Fund (IMF). This includes imposing a sales tax on tractors and pesticides, which may lead to price increases in essential agricultural products, impacting farmers significantly:citation[oaicite:2]{index=2}:citation[oaicite:1]{index=1}.
Additionally, the Federal Board of Revenue (FBR) has issued new guidelines for computing tax on salary income, providing a structured framework for employers and employees to navigate the complexities of salary income taxation in the upcoming tax year:citation[oaicite:0]{index=0}.
For more detailed information and to access official documents,
you can visit the
Federal
Board of Revenue (FBR) official website.
Stay informed and make sure to calculate your tax liability accurately with our updated Income Tax Calculator for Pakistan 2024-2025.