Income Tax Calculator - Budget 2023-24: Find out how much income tax will be deducted from your salary - Pakistan
In the budget for the fiscal year 2023-24, the federal government has proposed exempting those earning up to Rs50,000 per month from paying income tax.
Check out last year's tax calculation - Fiscal Year 2022-23
The finance division has made some tweaks in revised tax rates for people earning considerable salaries amid the ongoing crisis.
Following are tax rates for the salaried class:
| Slabs | Rate | Fixed | Monthly From | Monthly To | Yearly From | Yearly To |
|---|---|---|---|---|---|---|
| Slab-1 | 0.0% | - | - | - | - | 60,0000 |
| Slab-2 | 2.5% | - | 5,0001 | 100,000 | 600,001 | 1,200,000 |
| Slab-3 | 12.5% | 15,000 | 100,001 | 200,000 | 1,200,001 | 2,400,000 |
| Slab-4 | 20% | 165,000 | 200,001 | 300,000 | 2,400,001 | 3,600,000 |
| Slab-5 | 25% | 405,000 | 300,001 | 500,000 | 3,600,001 | 6,000,000 |
| Slab-6 | 32.5% | 1,005,000 | 500,001 | 1,000,000 | 6,000,001 | 12,000,000 |
| Slab-7 | 35% | 29,955,000 | 1,000,001 | 99,999,999 | 12,000,001 | 1,199,999,988 |
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Monthly Take Home :
Annual Salary :
Annual Tax :
Effective Tax Rate in % :
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