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January 21, 2025
Understanding the current income tax slabs is crucial for salaried individuals in Pakistan to ensure accurate tax planning and compliance. The Federal Board of Revenue (FBR) has updated the tax rates for the fiscal year 2024–2025, effective from July 1, 2024. This guide provides detailed information on the applicable tax slabs, calculation methods, and useful resources for salaried taxpayers.
The following table outlines the income tax slabs for salaried individuals as per the FBR's latest guidelines:
| Annual Taxable Income (PKR) | Tax Rate |
|---|---|
| Up to 600,000 | 0% |
| 600,001 – 1,200,000 | 5% of the amount exceeding 600,000 |
| 1,200,001 – 2,200,000 | 30,000 + 15% of the amount exceeding 1,200,000 |
| 2,200,001 – 3,200,000 | 180,000 + 25% of the amount exceeding 2,200,000 |
| 3,200,001 – 4,100,000 | 430,000 + 30% of the amount exceeding 3,200,000 |
| Above 4,100,000 | 700,000 + 35% of the amount exceeding 4,100,000 |
If your annual taxable salary is PKR 1,500,000:
First PKR 600,000: 0% tax
Next PKR 600,000 (600,001 – 1,200,000): 5% = PKR 30,000
Remaining PKR 300,000 (1,200,001 – 1,500,000): 15% = PKR 45,000
Total Tax Payable: PKR 30,000 + PKR 45,000 = PKR 75,000
The tax exemption limit remains at PKR 600,000.
Tax rates increase progressively with higher income brackets, reaching up to 35% for incomes above PKR 4.1 million.
Utilize online calculators for precise tax liability assessments.
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