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Basic Concepts of Income Tax

You will learn the fundamentals of income tax including taxable and none taxable sources. This brochure is to assist taxpayers.

Budget Document (PDF)

Federal Budget in Brief  2024-25. The fiscal year 2024-25 along with budget estimates and revised estimates for the fiscal year 2024-25.

Salary income is under PKR 600,000

If the annual salary income does not exceed PKR 600,000, then the income tax rate is 0%.

Salary income exceeds PKR 600,000 but is under PKR 1.2 Million

If the annual salary income exceeds PKR 600,000 but does not exceed PKR 1.2 million, then the rate of income tax is 5% of the amount exceeding PKR 600,000.

Salary income exceeds PKR 1.2 Million but is under PKR 2.2 Million

If the annual taxable income exceeds PKR 1.2 million but does not exceed PKR 2.2 million, the income tax rate is PKR 30,000 plus 15% of the amount exceeding PKR 1.2 million.

Salary income exceeds PKR 2.2 Million but is under PKR 3.2 Million

If the annual salary income exceeds PKR 2.2 million but does not exceed PKR 3.2 million, then the income tax rate is a flat PKR 180,000 plus 25% of the amount exceeding PKR 2.2 million.

Salary income exceeds PKR 3.2 Millions but is under PKR 4.1 Millions

If the annual salary income exceeds PKR 3.2 million but does not exceed PKR 4.1 million, then the income tax rate is a flat PKR 430,000 plus 30% of the amount that exceeds PKR 3.2 million.

Salary income exceeds PKR 4.1 million

If the annual salary income exceeds PKR 4.1 million, the income tax rate is a flat PKR 700,000 plus 35% of the amount exceeding PKR 4.1 million.