As per Lawkidunya, Section 149 of the Income Tax Ordinance, 2001 of Pakistan deals with the “Filing of return of income”. Here are the income tax rates applicable for the tax year 2024:

Tax Rates For Salaried Individuals

– Taxable income up to PKR 600,000: 0%
– PKR 600,001 – PKR 1,200,000: 5% of the amount exceeding PKR 600,000
– PKR 1,200,001 – PKR 2,200,000: PKR 30,000 + 15% of the amount exceeding PKR 1,200,000
– PKR 2,200,001 – PKR 3,200,000: PKR 180,000 + 25% of the amount exceeding PKR 2,200,000
– PKR 3,200,001 – PKR 4,100,000: PKR 430,000 + 30% of the amount exceeding PKR 3,200,000
– PKR 4,100,001 and above: PKR 700,000 + 35% of the amount exceeding PKR 4,100,000

Tax Rates For Non-Salaried Individuals (Business Income)

– Taxable income up to PKR 400,000: 0%
– PKR 400,001 – PKR 1,000,000: 5% of the amount exceeding PKR 400,000
– PKR 1,000,001 – PKR 2,000,000: PKR 30,000 + 15% of the amount exceeding PKR 1,000,000
– PKR 2,000,001 – PKR 4,000,000: PKR 180,000 + 25% of the amount exceeding PKR 2,000,000
– PKR 4,000,001 – PKR 6,000,000: PKR 580,000 + 30% of the amount exceeding PKR 4,000,000
– PKR 6,000,001 and above: PKR 1,180,000 + 35% of the amount exceeding PKR 6,000,000

Additional Taxes

– 10% surcharge on taxable income exceeding PKR 10 million
– 4% additional tax on income exceeding PKR 150 million
Note: These tax rates are subject to change, and individual circumstances may affect the actual tax liability. It’s essential to consult a tax professional or the Federal Board of Revenue (FBR) website for the most up-to-date information.