Adv Ch Shahid Bhalli

How Determine Tax on Salary in Pakistan For 2024

As per Lawkidunya, To determine the tax on salary in Pakistan for 2024, we’ll need to consider the taxable income and the applicable tax rates.

The tax rates for salaried individuals in Pakistan vary based on their income brackets. Here’s a general breakdown:
– Taxable Income up to PKR 600,000: No tax
– Taxable Income between PKR 600,001 and PKR 1,200,000: 2% of the amount exceeding PKR 600,000
– Taxable Income between PKR 1,200,001 and PKR 1,800,000: PKR 12,000 + 4% of the amount exceeding PKR 1,200,000
– Taxable Income between PKR 1,800,001 and PKR 2,500,000: PKR 36,000 + 6% of the amount exceeding PKR 1,800,000
– Taxable Income between PKR 2,500,001 and PKR 3,500,000: PKR 96,000 + 8% of the amount exceeding PKR 2,500,000
– Taxable Income between PKR 3,500,001 and PKR 5,000,000: PKR 220,000 + 11% of the amount exceeding PKR 3,500,000
– Taxable Income between PKR 5,000,001 and PKR 8,000,000: PKR 495,000 + 14% of the amount exceeding PKR 5,000,000
– Taxable Income above PKR 8,000,000: PKR 1,095,000 + 17% of the amount exceeding PKR 8,000,000

Keep in mind that these rates are subject to change, and individual circumstances may affect the actual tax liability. For accurate calculations, consider consulting a tax professional or using a reliable tax calculator.

Related Posts on Lawkidunya