The Federal Board of Revenue announced new rates for salary taxation
Through Finance Act, 2022, the Federal Board of Revenue has amended the rates for the salaried person as follow.
| Sr | Salary Slabs | Tax Rates |
|---|---|---|
| 1 | Where taxable income does not exceed Rs.600,000/- | No Tax |
| 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 |
0 Comments