The income tax is said to be the tax which you pay from your income which you receive when you work. The people will be getting all the updates about the income tax. The people will receive all the updates which will be given in your way.
The income tax has has to be given by the wages earner. The people who are employed and have the salary of charge can get the best wing of updates. The important sources will be given to you for it. The people will be given with the taxes in each spending of money
Tax Rates for Salaried Individuals | ||
S. N. | Taxable income | Tax Rate (%) |
1 | Where the taxable income does not exceed Rs.400,000 | 0% |
2 | Where the taxable income exceeds Rs.400,000 but does not exceed Rs.500,000 | 2% of the amount exceeding Rs.400,000 |
3 | Where the taxable income exceeds Rs.500,000 but does not exceed Rs.750,000 | Rs.2,000+5% of the amount exceeding Rs.500,000 |
4 | Where the taxable income exceeds Rs.750,000 but does not exceed Rs.1,400,000 | Rs.14,500+10% of the amount exceeding Rs.750,000 |
5 | Where the taxable income exceeds Rs.1,400,000 but does not exceed Rs.1,500,000 | Rs.79,500+12.5% of the amount exceeding Rs.1,400,000 |
6 | Where the taxable income exceeds Rs.1,500,000 but does not exceed Rs.1,800,000 | Rs.92,000+15% of the amount exceeding Rs.1,500,000 |
7 | Where the taxable income exceeds Rs.1,800,000 but does not exceed Rs.2,500,000 | Rs.137,000+17.5% of the amount exceeding Rs.1,800,000 |
8 | Where the taxable income exceeds Rs.2,500,000 but does not exceed Rs.3,000,000 | Rs.259,500+20% of the amount exceeding Rs.2,500,000 |
9 | Where the taxable income exceeds Rs.3,000,000 but does not exceed Rs.3,500,000 | Rs.359,500+22.5% of the amount exceeding Rs.3,000,000 |
10 | Where the taxable income exceeds Rs.3,500,000 but does not exceed Rs.4,000,000 | Rs.472,000+25% of the amount exceeding Rs.3,500,000 |
11 | Where the taxable income exceeds Rs.4,000,000 but does not exceed Rs.7,000,000 | Rs.597,000+27.5% of the amount exceeding Rs.4,000,000 |
12 | Where the taxable income exceeds Rs.7,000,000 | Rs.1,422,000+30% of the amount exceeding Rs.7,000,000 |
Income Tax Rates in Pakistan Calculator Procedure to Pay
By the way income Tax is one of the important sources through which a government finances its activities.
The personal income tax revenue is only 1.1% of GDP in Pakistan (11% of total tax revenues) and only 2% of working age population is registered as taxpayer.
Income Tax Rates in Pakistan Calculator Procedure to Pay
Tax Rates for Self-Employed Individuals | ||
S. N. | Taxable income | Tax Rate (%) |
1 | Where the taxable income does not exceed Rs.400,000 | 0% |
2 | Where the taxable income exceeds Rs.400,000 but does not exceed Rs.500,000 | 7% of the amount exceeding Rs.400,000 |
3 | Where the taxable income exceeds Rs.500,000 but does not exceed Rs.750,000 | Rs.7,000+10% of the amount exceeding Rs.500,000 |
4 | Where the taxable income exceeds Rs.750,000 but does not exceed Rs.1,500,000 | Rs.32,000+15% of the amount exceeding Rs.750,000 |
5 | Where the taxable income exceeds Rs.1,500,000 but does not exceed Rs.2,500,000 | Rs.144,500+20% of the amount exceeding Rs.1,500,000 |
6 | Where the taxable income exceeds Rs.2,500,000 but does not exceed Rs.4,000,000 | Rs.344,500+25% of the amount exceeding Rs.2,500,000 |
7 | Where the taxable income exceeds Rs.4,000,000 but does not exceed Rs.6,000,000 | Rs.719,400+30% of the amount exceeding Rs.4,000,000 |
8 | Where the taxable income exceeds Rs.6,000,000 | Rs.1,319,500+35% of the amount exceeding Rs.6,000,000 |
Here we will give you with the Salary Tax Calculator this tell you the annual income and the total tax which you must pay. You can also find the tax at your own salary. The updates will be listed time to time by this site. The help will be given at your way. The income tax which will you be given with can be given at the best way to the government