PakIncomeTax
FY 2024–25 Income Tax Slabs — Salaried Individuals
Finance Act 2024 — effective July 1, 2024 to June 30, 2025. Tax burden increased significantly. Rate in the Rs. 600K–1.2M band raised from 2.5% to 5%.
FY 2024–25 slab table
| Taxable Annual Income | Tax Rate |
|---|---|
| PKR 0 – PKR 6.00 Lac | 0% |
| PKR 6.00 Lac – PKR 12.00 Lac | 5% |
| PKR 12.00 Lac – PKR 22.00 Lac | PKR 30,000 + 15% of excess |
| PKR 22.00 Lac – PKR 32.00 Lac | PKR 1.80 Lac + 25% of excess |
| PKR 32.00 Lac – PKR 41.00 Lac | PKR 4.30 Lac + 30% of excess |
| Above PKR 41.00 Lac | PKR 7.00 Lac + 35% of excess |
Worked example — Rs. 150,000/month salary
For an annual taxable income of PKR 18.00 Lac in FY 2024–25, the tax payable works out to approximately PKR 1.20 Lac per year (PKR 10,000/month), before any medical allowance or other exemptions.
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Full slab wording (as published by FBR)
- Where the taxable salary income does not exceed Rs. 600,000, the rate of income tax is 0%.
- Where the taxable salary income exceeds Rs. 600,000 but does not exceed Rs. 1,200,000, the rate of income tax is 5% of the amount exceeding Rs. 600,000.
- Where the taxable salary income exceeds Rs. 1,200,000 but does not exceed Rs. 2,200,000, the rate of income tax is Rs. 30,000 + 15% of the amount exceeding Rs. 1,200,000.
- Where the taxable salary income exceeds Rs. 2,200,000 but does not exceed Rs. 3,200,000, the rate of income tax is Rs. 180,000 + 25% of the amount exceeding Rs. 2,200,000.
- Where the taxable salary income exceeds Rs. 3,200,000 but does not exceed Rs. 4,100,000, the rate of income tax is Rs. 430,000 + 30% of the amount exceeding Rs. 3,200,000.
- Where the taxable salary income exceeds Rs. 4,100,000, the rate of income tax is Rs. 700,000 + 35% of the amount exceeding Rs. 4,100,000.
About FY 2024–25
Finance Act 2024 — effective July 1, 2024 to June 30, 2025. Tax burden increased significantly. Rate in the Rs. 600K–1.2M band raised from 2.5% to 5%.